ENCINO, Calif., Aug. 26, 2025 (GLOBE NEWSWIRE) — NETSOL Technologies, Inc. (Nasdaq: NTWK), a leader in AI-powered solutions and services enabling OEMs, dealerships and financial institutions to sell, finance and lease assets, has announced its selection by Sonic Automotive, Inc. (NYSE: SAH), a Fortune 500 automotive and powersports dealership group, to lead a discovery engagement focused on defining the requirements and roadmap for a next-generation omnichannel digital retail platform powered by NETSOL’s Transcend Retail.
This strategic engagement supports Sonic Automotive’s continued investment in digital innovation by defining a scalable platform architecture that enhances customer experience and dealer operations across its EchoPark Automotive operations. Leveraging the capabilities of NETSOL’s Transcend Retail platform as both a foundation and a flexible framework, the engagement will explore new opportunities to unify workflows, enable deeper system integration, and support a seamless, connected retail journey.
Led by NETSOL’s Transcend Retail team in close collaboration with Sonic stakeholders, the initiative will produce a future-state blueprint aligned with Sonic’s vision for an elevated, technology-driven retail experience. This partnership reflects the broader momentum among top dealership groups embracing digital-first strategies to stay ahead of evolving consumer expectations.
“Our industry-leading digital retail platform (Transcend Retail) revolutionizes how dealerships sell, finance and deliver cars with a fully digital, integrated solution that simplifies the entire customer journey,” said Najeeb Ghauri, Founder and CEO of NETSOL Technologies Inc. “By leveraging Sonic’s current technology assets and the power of our Transcend Retail platform, we’re not just supporting Sonic’s growth in the used car market – we’re pioneering a scalable model that sets the standard for the future of automotive retail.”
“This discovery project represents a pivotal step in Sonic Automotive’s commitment to embracing digital-first retail models,” he added. “The partnership underscores a broader industry trend as leading dealership groups prioritize digital transformation to stay competitive in today’s fast-evolving automotive marketplace.”
“We take pride in delivering exceptional guest experiences and are excited to partner with NETSOL on this digital retail initiative,” said David B. Smith, Chairman and CEO of Sonic Automotive. “We look forward to developing innovative ways to enhance our digital retail operations with the Transcend Retail platform and deliver a world-class experience for our EchoPark Automotive guests.”
About NETSOL Technologies
NETSOL Technologies delivers state-of-the-art solutions for the asset finance and leasing industry, serving automotive and equipment OEMs, auto captives and financial institutions across over 30 countries. Since its inception in 1996, NETSOL has been at the cutting edge of technology, pioneering innovations with its asset finance solutions and leveraging advanced AI and cloud services to meet the complex needs of the global market. Renowned for its deep industry expertise, customer-centric approach and commitment to excellence, NETSOL fosters strong partnerships with its clients, ensuring their success in an ever-evolving landscape. With a rich history of innovation, ethical business practices and a focus on sustainability, NETSOL is dedicated to empowering businesses worldwide, securing its position as the trusted partner for leading firms around the globe.
About Sonic Automotive
Sonic Automotive, Inc., a Fortune 500 company based in Charlotte, North Carolina, is on a quest to become the most valuable diversified automotive retail and service brand in America. Our company culture thrives on creating, innovating, and providing industry leading guest experiences, driven by strategic investments in technology, teammates, and ideas that ultimately fulfill ownership dreams, enrich lives, and deliver happiness to our guests and teammates. As one of the largest automotive and powersports retailers in America, we are committed to delivering on this goal while pursuing expansive growth and taking progressive measures to be the leader in these categories. Our new platforms, programs, and people are set to drive the next generation of automotive and powersports experiences. More information about Sonic Automotive can be found at sonicautomotive.com and ir.sonicautomotive.com.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company’s products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words “expects,” “anticipates,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company’s actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
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