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Sonic Automotive, Inc. Announces Preliminary Q4 Results

18 January 2001

Sonic Automotive, Inc. Announces Preliminary Fourth Quarter Results and Revised Outlook For 2001

    CHARLOTTE, N.C., Jan. 17 Sonic Automotive, Inc.
announced today preliminary sales of $1.5 billion for the three
months ended December 31, 2000.  This represents an increase of approximately
25% compared to sales of approximately $1.2 billion for the quarter ended
December 31, 1999.  Preliminary same store sales for the quarter ended
December 31, 2000 declined approximately 2%.  Preliminary sales for the year
ended December 31, 2000 of $6.1 billion represented an increase of
approximately 79% compared to sales of $3.4 billion for the year ended
December 31, 1999.

    Fourth Quarter Results
    The Company estimates that its fourth quarter 2000 diluted earnings per
share will be in the range of  $0.29 to $0.31.  This will result in diluted
earnings per share for the year ended December 31, 2000 in the range of $1.70
to $1.72 compared to previously announced Company estimates of between $1.84
to $1.87.  Sonic will report actual fourth quarter 2000 results on
February 26, 2001.

    Calendar 2001 Outlook
    O. Bruton Smith, the Company's Chairman and Chief Executive Officer
stated, "The abrupt slowdown in new vehicle sales of domestic manufacturers'
brands has negatively impacted both sales volume and margins.  Because of this
rapid slowdown, many of our dealerships currently have excess new vehicle
inventory and have over invested in promotion.  We have taken aggressive
action to correct these conditions and expect to be in a more favorable
position by the end of the first quarter of 2001.  Assuming continuation of
current industry trends and no additional acquisitions, we are now targeting
earnings per share for the first quarter of 2001 of $0.22 to $0.24 and
earnings per share for the year ending December 31, 2001 of $1.43 to $1.47."