Mercedes-Benz USA and Sonic Automotive Announce Settlement of all Legal Disputes

Mercedes-Benz USA and Sonic Automotive, Inc.

today announced a settlement of all legal disputes between the two companies effective immediately. Mike Slagter, Mercedes-Benz USA's Vice President of Sales, stated "This agreement allows both companies to wholly focus on their business goals moving forward. For MBUSA, that means continuing to elevate the customer experience within the brand as volumes grow and new customers enter the brand." Jeff Dyke, Sonic's Executive Vice President of Operations, added that he was "pleased with the action and cooperative spirit of both companies as they settled their differences." Mr. Dyke relayed that this agreement was important to Sonic as it "resets the relationship with Mercedes-Benz and allows Sonic to focus on our own growth and acquisition plans within the Mercedes-Benz network as well as across the industry." Both companies declined to provide details of the settlement.