Automotive News Updates

AutoCanada buys 11 shops from Autopoint, greater than doubling presence in Ontario

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EDMONTON — AutoCanada Inc. says it has purchased 11 auto dealerships from the Autopoint Group in southwestern Ontario.

Monetary phrases of the deal weren’t instantly accessible.

AutoCanada says the dealerships generate annual income of over $345 million, promoting and servicing Honda, Acura, Nissan, Infiniti, Subaru, and Kia autos.

The deal will increase AutoCanada’s dealership depend in Ontario to 18 from seven.

AutoCanada says it has additionally signed a deal to purchase North London Toyota from Autopoint, however the acquisition stays topic to circumstances, together with OEM approval.

AutoCanada operates 78 franchised dealerships, together with 28 manufacturers, in eight provinces in Canada in addition to a bunch in Illinois.


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