 Sonic Automotive, Inc. 1 Q1 2012 Earnings Review April 23, 2012 Exhibit 99.2 |
 Sonic Automotive, Inc. 2 Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events, are not historical facts and are based on our current expectations and assumptions regarding our business, the economy and other future conditions. These statements can generally be identified by lead-in words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “foresee”, “may” ,”will” and other similar words. Statements that describe our Company’s objectives, plans or goals are also forward-looking statements. Examples of such forward-looking information we may be discussing in this presentation include, without limitation, further implementation of our operational strategies and playbooks, future debt retirement, capital expenditures, operating margins and revenues, inventory levels and new vehicle industry sales volume. You are cautioned that these forward-looking statements are not guarantees of future performance, involve risks and uncertainties and actual results may differ materially from those projected in the forward-looking statements as a result of various factors. These risks and uncertainties include, among other things, (a) economic conditions in the markets in which we operate, (b) the success of our operational strategies, (c) our relationships with the automobile manufacturers and (d) new and pre-owned vehicle sales volume. These risks and uncertainties, as well as additional factors that could affect our forward-looking statements, are described in our Form 10-K for the year ending December 31, 2011. These forward-looking statements, risks, uncertainties and additional factors speak only as of the date of this presentation. We undertake no obligation to update any such statements. |
 Sonic Automotive, Inc. 3 Sonic Automotive Q1 2012 o Quarter in Review o Financial Results o Operations Recap o Summary and Outlook |
 Sonic Automotive, Inc. 4 Overall Results Record Revenue Growth – up 9.3% New retail vehicle revenue up 12.1% - volume up 11.2% - exceeds industry retail volume growth Pre-owned revenue up 9.0% F&I revenue up 20.7% Fixed Operations revenue up 5.1% SG&A to gross declined to 79.4% Income from continuing operations of $19.5 million up 24.1% Q1 2012 diluted EPS from continuing operations was $0.33 per share vs. $0.27 in prior year period |
 Sonic Automotive, Inc. Q1 2012 Results 5 B/(W) than Q1 2011 (amounts in millions, except per share data) Q1 2012 $ % Revenue $ 1,988 $ 170 9% Gross Profit $ 312 $ 25 9% Operating Profit $ 53 $ 5 10% Continuing Ops: Profit (after tax) $ 19 $ 4 24% Diluted EPS $ 0.33 $ 0.27 22% |
 Sonic Automotive, Inc. SG&A to Gross 30 bps Improvement Q1 2011 Q1 2012 79.7% 79.4% |
 Sonic Automotive, Inc. Capital Spending 7 (amounts in millions) YTD Q1 2012 Estimated 2012 Real Estate Acquisitions $ 0.0 $ 14.5 All Other Cap Ex 12.0 118.9 Subtotal $ 12.0 $ 133.4 Less: Mortgage Funding (10.7) (33.5) Total Cash Used – Cap Ex $ 1.3 $ 99.9 |
 8 Debt Covenants Compliant with all Covenants Covenant Actual Q1 2012 Liquidity Ratio >= 1.05 1.16 Fixed Charge Coverage Ratio >= 1.20 1.64 Total Lease Adjusted Leverage Ratio <= 5.50 3.95 Sonic Automotive, Inc. |
 Sonic Automotive, Inc. New Vehicles Includes Fleet (1) (1) Source: JD Power 11.2% 10.4% 12.4% Sonic - Retail Industry - Retail SAAR Q1 2012 Q1 2011 B/(W) Retail Revenue $1.0 billion 12.1% $909 million Retail Volume Selling Price Gross Margin % GPU Retail Gross Profit 29,685 26,703 11.2% $ 34,311 $ 34,036 $276 6.2% 6.3% (10 bps) $ 2,131 $ 2,155 ($ 24) $ 63 million $ 58 million 9.9% 9 |
 Sonic Automotive, Inc. Pre-Owned Retail Vehicles Q1 2012 Q1 2011 B/(W) Retail Volume 26,547 24,895 6.6% Pre-Owned Related Gross* $ 84 million $ 76 million $ 8 million Pre-Owned to New Ratio .89 to 1 .93 to 1 10 * - Includes: pre-owned vehicle + reconditioning + F&I gross Continue to make progress toward our goal of 100 per store per month Used Retail Sales Per Store 75 77 74 80 82 90 Jan Feb Mar 2011 2012 |
 Sonic Automotive, Inc. 11 B/(W) than Q1 2011 (amounts in millions) Q1 2012 $ % Revenue $ 302 $ 15 5.1% Gross Profit $ 147 $ 6 FY YOY Gross Profit Change Breakdown: Fixed Operations 3.9% • Customer Pay Up 8.1% • Whsl. Parts Up 7.3% • Internal & Sublet Up 10.2% • Warranty Down 14.2% |
 Sonic Automotive, Inc. 12 Summary and Outlook Continue to grow organically and improve our base business Automotive retail industry steadily increased in Q1 Expect new vehicle inventories to normalize in Q2 Investment in technology and training will continue Confirm 2012 continuing operations diluted earnings per share guidance of $1.55 - $1.65. |
 13 Sonic Automotive, Inc. |