Sonic Automotive, Inc. Reports Solid First Quarter Earnings

Sets New Car Market Share Records, Raises its Annualized Cost Reduction Target to $135 Million

CHARLOTTE, N.C., May 8, 2009: Sonic Automotive, Inc. , the nation's third-largest automotive retailer, today reported that 2009 first quarter earnings from continuing operations were $5.4 million, or $0.13 per diluted share, before adoption of APB 14-1. The Company's first quarter of 2009 also included pretax expense of $2.0 million, or $0.03 per diluted share, related to the Company's successful debt restructuring efforts. Excluding these restructuring charges, first-quarter profit from continuing operations was $0.16 per diluted share before the adoption of APB 14-1, as shown in the attached reconciliation table.

B. Scott Smith, the Company's President said, "Our continued focus on executing the basic blocking and tackling of our playbook produced solid results in the most difficult automotive business environment in at least a generation. We made money and moved the business forward, demonstrating the power of Sonic's ongoing business strategy. Our playbook execution, including Pre-Owned, e-Commerce and Fixed Operations, provided the needed support as the new vehicle environment continued to struggle."

"We are very pleased that despite the adversity in the new vehicle environment, Sonic set all-time new car market share records during the quarter. Our advertising and internet marketing initiatives resulted in 83 of our dealerships taking share by exceeding their local markets for the quarter. Our used vehicle business continues to outperform the industry confirming the fact that our pre-owned strategic initiatives are having a positive impact on our overall revenue mix and generating the intended results. Traffic to our internet websites was up 36%, and we posted the fourth highest customer pay quarter in our service department history."

Mr. Smith continued, "On the cost front, our SG&A expenses were down over $23 million compared to the first quarter of last year. Adjusting our business model to respond to the current economy continues to be a primary focus. We made significant additional progress after announcing our cost reduction initiatives in March, and have raised our targeted annualized cost reductions to $135 million compared to our previously disclosed projection of $125 million. We believe that when SG&A is adjusted for rent, we are a top-performer among our peers."

"We have lowered our number of associates by roughly 10% over the last six months. We now have fewer people making more money. As a result, we're proud to say that our associate turnover is at an all-time low and associate satisfaction levels have never been higher, all of which complement our all-time high customer satisfaction scores."

Presentation materials for the Company's May 8, 2009 earnings conference call at 11:00 A.M. (Eastern) can be accessed on the Company's website at www.sonicautomotive.com by clicking on the "For Investors" tab and choosing "Webcasts & Presentations" on the right side of the monitor.

To access the live broadcast of the call over the Internet go to: CCBN or SONIC

A live audio of the call will be accessible to the public by calling (877) 791-3416. International callers dial (706) 643-0958. Callers should dial in approximately 10 minutes before the call begins.

A conference call replay will be available one hour following the call for seven days and can be accessed by calling: 800-642-1687, Conference ID: 98605797, International callers dial (706) 645-9291.