Sonic Automotive CEO David Smith arrested for assault and strangulation charges
Smith is the son of Speedway Motorsports founder
The CEO of Sonic Automotive Inc, one of the largest U.S. auto dealer groups, was charged Monday with assault and strangulation, according to a report.
David Bruton Smith was arrested by the Charlotte-Mecklenburg Police Department and charged with assault by strangulation, assault on a female and false imprisonment.
Cops told the Charlotte Observer that "the victim stated the suspect assaulted and unlawfully restrained her without her consent.”
The head of the Charlotte-based car sales company was released after he posted a $30,000 bond, according to the Mecklenburg County Sheriff’s Office.
He has been in his current role since September 2018.
Sonic operates more than 85 stores in 14 states.
Smith is the son of O. Burton Smith, the executive chairman of Speedway Motorsports LLC. The company owns and operates several auto raceways including the Atlanta Motor Speedway, Charlotte Motor Speedway, Las Vegas Motor Speedway and the Texas Motor Speedway, according to Sonic's web site.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SAH | SONIC AUTOMOTIVE INC. | 56.74 | +5.66 | +11.08% |
Sonic Automotive was incorporated in 1997 and before the pandemic hit, the company employed about 9,300 workers. In its 2019 annual report. the Fortune 500 company reported an all-time record total revenue of more than $10.4 billion with a gross profit of $1.5 billion.