Tuesday, November 13, 2007
Lanelogic, Sonic Automotive Expand Partnership
Dallas-based online used vehicle trading network lanelogic Inc. reported Tuesday that one of the country's largest auto retailers, Sonic Automotive, has adopted lanelogic's trading system for its Southeastern dealerships. The financial impact of the deal was not revealed. However, lanelogic said that the transaction expands its original partnership with Sonic. Installation of the extended network, lanelogic noted, is complete and additional dealerships will be added in the coming weeks. Jeff Dyke, regional chief operating officer for Sonic Automotive, said lanelogicís used car trading technology will help his company decrease its wholesale loss and inventory turn time while increasing retail gross profit. Founded in November 2005, lanelogic is a privately held company backed by Cain Capital LLC, Copart Inc., HBK Investments LP and founder Bruce Thompson.