CHARLOTTE — Ongoing volatility in the used-car market continues to weigh on Sonic Automotive Inc.’s EchoPark brand. The Charlotte-based auto retailer said this week that it has “indefinitely suspended operations” at eight EchoPark locations and an unspecified number of related delivery/buy centers.
Sonic said it is making those moves to align its used-car, technology-driven EchoPark brand with current conditions in the pre-owned market, which has been impacted by lower production of new vehicles over the past three years. That’s contributed to a limited inventory of used vehicles and higher prices.
Sonic said that by suspending operations at those locations, it will be able to “allocate more vehicles to key markets and increase capacity to address current demand in those markets.”
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