Sonic Automotive Inc was incorporated in Delaware in 1997. It retails automotive in the United States. As of December 31, 2013, it operated 102 dealerships. Its dealerships provide services including sales of both new and used cars and light trucks; sales of replacement parts, performance of vehicle maintenance, manufacturer warranty repairs, paint and collision repair services; and arrangement of extended service contracts, financing, insurance and other aftermarket products for its customers. The retail automotive industry is highly competitive. Depending on the geographic market, the Company competes both with dealers offering the same brands and product lines as them and dealers offering other manufacturers' vehicles. Numerous federal and state regulations govern its business of marketing, selling, financing and servicing automobiles. It is also subject to laws and regulations relating to business corporations.