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Is Sonic’s (SAH) EchoPark Unit the Sole Driver of the Stock?

Sonic Automotive’s SAH shares have rallied 23.2% over the past three months, outperforming the industry’s growth of 13.4%. The auto sector and S&P 500 declined 0.9% and 1%, respectively, in the same time frame. One of the leading automotive retailers in the United States, Sonic sports a Zacks Rank #1 (Strong Buy) and a VGM Score of A. Amid the rising demand for cars due to preference for personal mobility and economic growth, it looks well poised to maintain its bull run on the bourses. You can see the complete list of today’s Zacks #1 Rank stocks here.

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EchoPark: The Major Growth Engine of Sonic

Sonic’s EchoPark business, which operates independently from the franchised dealerships business, sells used cars and light trucks as well as arranges finance & insurance product sales for customers in

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Lotus unit takes step toward e-car switch

Units of Lotus and electric-vehicle upstart Nio signed an investment pact as the Chinese owner of the iconic maker of British sports and racing cars seeks to transform it into an all-electric brand.

Lotus Technology and Nio will explore collaboration in areas including high-end intelligent EVs, according to a statement. The unit, which develops electric cars for the Lotus brand globally, broke ground on its global headquarters in Wuhan last week and plans to roll out a range of new models over the next five years.

The first, a sport utility vehicle code named Type 132, will debut next year. This will be followed in 2023 by a four-door coupe and another SUV in 2025. An all-new electric sports car, the Type 135, will hit the market in 2026.

The models are in addition to the Evija all-electric hypercar and the Emira, the last gas-powered sports car from Lotus, both

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