Sonic buys Las Vegas Cadillac dealerships

Friday, July 28, 2000 | 10:36 a.m.

Las Vegas' two Cadillac dealerships are being sold to Las Vegas Motor Speedway owner Bruton Smith's Sonic Automotive Inc.

Cashman Cadillac, 2711 E. Sahara Ave., and Cadillac West, 5185 W. Sahara Ave., both owned by President Tim Cashman, are being sold to Charlotte, N.C.-based Sonic.

Terms of the sale were not disclosed.

Cashman said Thursday he would not discuss the status of the company's 165 employees or his plans until after the sale is completed. He said the deal is subject to approval by General Motors Corp. and should take 60 to 90 days to close.

Sonic entered the Las Vegas auto market a year ago when the company acquired Integrity Dodge from owner Tom Saitta. The dealership changed its name to Nevada Dodge.

Two more local dealerships -- Honda West (formerly Falconi Honda) and Volvo of Las Vegas -- were acquired by Sonic, a Fortune 500 company, in December. In 1999, Sonic bought 71 dealerships with revenues of $3 billion. Currently, the company operates 172 dealership franchises and 30 collision repair centers in 13 states and owns and operates franchises for 31 different brands of cars and trucks.

For the first quarter of 2000, the company had revenues of $1.46 billion, up from $593.5 million for the same period in 1999, and earnings totaled $17.4 million, up from $6.7 million.

Cashman Cadillac, which opened in 1972, is managed by Fred Hugelmann, while Cadillac West, which opened in 1989, is managed by Nick Rivellini. Both dealerships offer several different models of the American-made luxury car.

Tim Cashman is the grandson of James "Big Jim" Cashman, a prominent civic leader who opened his first auto business in Las Vegas in 1910.

James Cashman, who has a Las Vegas middle school and a downtown convention center and baseball stadium named in his honor, was a founding member of the Las Vegas Valley Water District, the Las Vegas Chamber of Commerce and the Rotary Club. He helped generate legislation that led to construction of what is now Hoover Dam and he helped create the annual Helldorado celebration in 1936.