Sonic Automotive acquires Porsche Walnut Creek dealership

Sonic Automotive Inc., a company based in Charlotte, North Carolina, has announced the acquisition of Porsche Walnut Creek, a dealership located in Walnut Creek, California. This move expands Sonic Automotive's Porsche dealership portfolio to six locations across the United States. Prior to the acquisition, the Walnut Creek dealership was owned by Fletcher Jones Automotive Group.

The facility caters to the Walnut Creek, East Bay, and greater San Francisco Bay Area regions. David B. Smith, Chairman and Chief Executive Officer of Sonic Automotive, stated in a press release that the acquisition reflects the company's ongoing commitment to expanding in premium, high-performing markets. Porsche Walnut Creek has been serving the community since 2006, offering new and pre-owned Porsche vehicles, factory-trained service, and parts.

Mike Pardini, who has been working at the location for 22 years, will continue in his role as General Manager. The acquisition strengthens Sonic Automotive's California dealership portfolio, which already includes BMW, Honda, Jaguar, Land Rover, Lexus, Mercedes-Benz, MINI, and Toyota brands, as well as EchoPark Automotive and Harley-Davidson dealerships in the state.

Sonic Automotive currently operates 173 automotive and powersports franchises across 145 locations in 90 cities and 21 states, representing 24 automotive and 15 powersports brands. The acquisition announcement came as Porsche is set to introduce the Cayenne Electric, its first fully electric version of the Cayenne model, at dealerships. Financial details of the transaction have not been disclosed in the press release.