Sonic Automotive Selects MenuVantage as Exclusive Menu Selling Software Provider
ORLANDO, FLORIDA - MAY, 2006 – MenuVantage, a fully customizable, web-based menu selling system that integrates seamlessly with major Dealer Management Systems (DMS), today announced that Sonic Automotive has chosen MenuVantage to be its exclusive Menu Selling software provider for all 174 franchises nationwide. Sonic Automotive, Inc., a Fortune 300 company, is one of the largest automotive retailers in the United States.
“Sonic Automotive conducted extensive due diligence for almost a year; researching many software providers. It became clear in our analysis that MenuVantage was the best fit with how Sonic operates its F& I practices,” commented Richard O’Connor, Vice President of Finance & Insurance of Sonic Automotive. "Most importantly, we chose MenuVantage as it showed the unique ability to provide our dealerships with compliance and best practices in all areas of F&I, as well as increased profitability,” Mr. O’Connor continued.
MenuVantage Chief Marketing Officer Phillip Battista added, "MenuVantage is proud to have been selected by Sonic Automotive, one of the premier operators in the automotive industry. We look forward to providing the technology that will enable Sonic’s dealerships to take F&I performance to another level."
MenuVantage provides dealers with superior F&I tools to ensure compliance and increased per unit profit. The system offers F&I Departments the most advanced technology available on the market including electronic submission of warranty and F&I products to providers, real time service contract rating for over 50 providers, and dynamic printing of documents on regular paper.
MenuVantage has seen a strong increase in market presence and currently processes more than 67,000 deals per month for 2,300 users at automotive dealerships nationwide; the average deal with MenuVantage produces $903 per unit compared to $633 per unit without the system – a 30% increase in revenue.
About Sonic Automotive:
Sonic Automotive, Inc., a Fortune 300 company based in Charlotte, N.C., is one of the largest automotive retailers in the United States operating 174 franchises and 38 collision repair centers. Sonic can be reached on the Web at http://www.sonicautomotive.com.
SOURCE Sonic Automotive, Inc.
CONTACT: Jeffrey C. Rachor, President and Chief Operating Officer, +1-704-566-2400, or J. Todd Atenhan, Investor Relations, +1-888-766-4218, both of Sonic Automotive, Inc. |