Sonic has absolutely no sales issues. The trick to making Sonic sell loads has also been shown: couple him with Mario.
Mario & Sonic @ The Olympics sold 12.64 million. Just to clarify, that's more than Sonic 1, 2 and 3 combined.
And the non-Mario installments are still huge successes. Across all platforms, Sonic Unleashed sold 3.93 million. For a comparison, that's more than Uncharted: Drake's Fortune. Sonic Rush sold over 3 million too.
While you can debate Sonic's recent quality, his sales are still quite amazing. His games have sold around 43 million so far this generation. Grand Theft Auto sold somewhere around 54 million on consoles last generation. Sonic is poised to beat that.
Sonic isn't anywhere near Mario (180m this gen) sales wise, but it never was. It's roughly as large compared to Mario as it always has been. Which, all things considered, is pretty brilliant.
I believe Sonic is either in the top 10 best selling franchises of the generation, or close to.