AutoCanada considers selling U.S. stores!
AutoCanada faced several headwinds during the second quarter's $33M Q2 loss.
AutoCanada Inc. is exploring the sale of its U.S. dealerships and other “non-profitable and non-core assets,” as the company swung to a loss for the second quarter amid falling sales, a significant used-vehicle inventory write-down and fallout from the CDK Global cyberattack.?
AutoCanada Inc. is a North American multi-location automobile dealership group currently operating 85 franchised dealerships, consisting of 28 brands in eight provinces in Canada and a group in Illinois, USA.
#AutoCanada currently sells #Chrysler, #Dodge, #Jeep, #Ram, #FIAT, #AlfaRomeo, #Chevrolet, #GMC, #Buick, #Cadillac, #Ford, #Infiniti, #Nissan, #Hyundai, #Subaru, #Audi, #Volkswagen, #Kia, #Mazda, #Mercedes-Benz, #BMW, #MINI, #Volvo, #Toyota, #Lincoln, #Acura, #Honda and #Porsche branded vehicles. In addition, AutoCanada's Canadian Operations segment currently operates 3 used vehicle dealerships and 1 used vehicle auction business supporting the Used Digital Retail Division, 13 RightRide division locations, and 11 stand-alone collision centres within its group of 28 collision centres. In 2023, the Company generated revenue in excess of $6 billion and our dealerships sold over 100,000 retail vehicles.
AutoCanada is a publicly traded company on the Toronto Stock Exchange, traded as TSX: ACQ and headquartered in Edmonton, Alberta.