EDMONTON, AB, Nov. 4, 2021 /CNW/ - AutoCanada Inc.
("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North
American automobile dealership group, announced today the addition
of Crystal Lake Chrysler Jeep Dodge Ram, Inc ("Crystal Lake"),
a Stellantis dealership located in Crystal Lake, Illinois. Crystal Lake is
AutoCanada's first Stellantis dealership in the United States ("U.S."), expands our
presence in the Chicago
metropolitan market, and is expected to generate approximately
$72 million in annualized
"The addition of this dealership in an attractive growth market
further bolsters AutoCanada's presence in southern Illinois and adds to our existing U.S. base,"
said Executive Chairman, Paul
Antony. "We see strong potential for continued growth and
improvement in the U.S., with the right management team in place
and the right focus on selling cars and driving profitability."
This acquisition was financed using existing balance sheet
AutoCanada is a leading North American multi-location automobile
dealership group currently operating 66 franchised dealerships,
comprised of 27 brands, in eight provinces in Canada as well as a group in Illinois, USA. AutoCanada currently sells
Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC,
Buick, Cadillac, Ford, Infiniti,
Nissan, Hyundai, Subaru, Audi, Volkswagen, Kia, Mazda,
Mercedes-Benz, BMW, MINI, Volvo, Toyota, Lincoln, Honda and Porsche branded vehicles.
Additionally, the Company's Canadian operations segment currently
operates two used vehicle dealership supporting the Used Digital
Retail Division, and three stand-alone collision centres (within
our group of 18 collision centres). In 2020, our dealerships sold
approximately 66,000 vehicles and processed over 756,000 service
and collision repair orders in our 1,098 service bays generating
revenue in excess of $3 billion.
Additional information about AutoCanada Inc. is available at
www.sedar.com and the Company's website at www.autocan.ca.
SOURCE AutoCanada Inc.