Sonic Automotive Inc (SAH) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Exhibit 99.1

FOR IMMEDIATE RELEASE

Sonic Automotive, Inc. Posts Record Fourth Quarter Profits and Full Year Retail Unit Sales

CHARLOTTE, N.C. – February 20, 2013 – Sonic Automotive, Inc. (NYSE: SAH), one of the nation’s largest automotive retailers, today reported preliminary diluted earnings per share from continuing operations of $0.52, an increase of 44.4% compared to $0.36 in the prior year quarter. 2012 fourth quarter net income from continuing operations were $28.8 million, a 35.5% increase over prior year results of $21.2 million. When adjusting for charges recorded in the prior year period related to legal and lease charges, 2012 fourth quarter net income from continuing operations improved $3.4 million, or 13.2%, from an adjusted fourth quarter 2011 result of $25.4 million.

For the full year 2012, the Company grew adjusted net income from continuing operations by 19.6% to $1.71 per diluted share compared to $1.43 per diluted share in the prior year. The adjustments for both periods are detailed further in the attached tables.

During the quarter, the Company repurchased 3.5 million shares of its Class A common stock at an average price of $19.27 per share. For the year, the Company repurchased 4.4 million shares of its Class A common stock at an average price of $19.00 per share. The fully diluted share count was reduced from 65.5 million shares for the full year of 2011 to 54.0 million shares going into 2013, a reduction of 17.6%.

Subsequent to the end of the fourth quarter, Sonic’s Board of Directors authorized an additional $100 million to be used in the Company’s share repurchase program. When combined with previously unused authorized amounts, Sonic has approximately $144.2 million of total authorization from its Board of Directors to repurchase shares of the Company’s Class A Common Stock.

Q4 2012 Highlights – New Retail Volume Outpaces Industry; Annual Cost Lower than Target