Business
AUTOCANADA COMPLETES SALE OF NORTH CITY HONDA
AutoCanada Inc. (TSX: ACQ), a multi-location Canadian automobile dealership group, today announced the completion of the sale of North City Honda in Chicago, Illinois. This dealership is part of the U.S. dealerships reclassified as discontinued operations at year-end 2024.
About this update from Honda Motor Co., Ltd.
[{"type":"image","alt":"AutoCanada Inc. Logo (CNW Group/AutoCanada Inc.)","displaySize":"","headline":null,"caption":"AutoCanada Inc. Logo (CNW Group/AutoCanada Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":76,"url":"https://media.zenfs.com/en/cnwgroup.com/cfa19e9ed4848677e28b484e5b9b15d5"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cihZ3_481vjCmXnWzmV0Pw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTEzNDtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/cfa19e9ed4848677e28b484e5b9b15d5","width":400,"height":76}},"href":"https://mma.prnewswire.com/media/2758699/AutoCanada_Inc__AUTOCANADA_COMPLETES_SALE_OF_NORTH_CITY_HONDA.html","hrefExternal":true,"rel":"nofollow","lazy":false},{"type":"text","content":"EDMONTON, AB, Aug. 26, 2025 /CNW/ - AutoCanada Inc. (TSX: ACQ), a multi-location Canadian automobile dealership group, today announced the completion of the sale of North City Honda in Chicago, Illinois. This dealership is part of the U.S. dealerships reclassified as discontinued operations at year-end 2024.","length":309,"tagName":"p"},{"type":"text","content":"In the 12 months ending June 30, 2025, North City Honda generated sales of $66.6 million and a net loss of $3.2 million. AutoCanada received approximately $18.2 million in cash on the sale for goodwill and fixed assets, excluding inventory and net working capital, with proceeds directed toward reducing the outstanding balance of the Company's revolving credit facility.","length":375,"tagName":"p"},{"type":"text","content":"All dollar amounts in this press release are in Canadian dollars.","length":65,"tagName":"p"},{"type":"text","content":"About AutoCanada","length":16,"tagName":"p"},{"type":"text","content":"AutoCanada's Canadian Operations segment operates 64 franchised dealerships in Canada, comprised of 23 brands, in eight provinces. AutoCanada currently sells Acura, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, and Volkswagen branded vehicles. AutoCanada's Canadian Operations segment also operates three independent used dealerships and 12 stand-alone collision centres within our group of 29 collision centres. In 2024, our Canadian dealerships sold approximately 85,000 new and used retail vehicles. Our collision centres offe...