Tesla, which is disrupting the car industry as we know it, among other things, by moving away from the dealership model, seems very different from Sonic Automotive, which is changing the way dealers sell cars. Yet a Morgan Stanley analyst called Sonic Automotive the Tesla of the car dealership industry, as reported by Techinsider.
Sonic has invested $45 million and four years of effort to develop the 60 minute car buying model. The idea is to take the hassle and wasted time out of buying a car, which in some cases, can seem to take as long as buying a home. Dealers can make the process paperless if not completely painless, and the customer can drive home their new car within an hour. The initial program will be rolled out before the end of the year, but Morgan Stanley thinks it may take a couple of years before it is perfected.