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Article: Sonic Automotive Buys Plymouth, Mich.-Based Car Dealerships.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 16, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Jim Fuquay, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News
Jan. 16--Sonic Automotive, the second-largest auto dealership chain, said Tuesday that it has bought Don Massey Dealerships, whose 16 stores include Massey Cadillac in Dallas.
Sonic, headed by Texas Motor Speedway chief Bruton Smith, owns Garry McKinney Toyota in Fort Worth and Dallas dealerships Lute Riley Honda, Volvo of Dallas and North Central Ford. It made an unsuccessful run at the Frank Parra Autoplex in Irving last year.
Sonic operates 154 franchise dealerships in 13 states, with revenues of $4.7 billion and net income of $58.1 million during the first ...