Auto dealership company AutoCanada reports Q4 loss, sales up from year ago
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$0 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*No charge for 4 weeks then price increases to the regular rate of $19.00 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.75/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 07/03/2024 (639 days ago), so information in it may no longer be current.
EDMONTON – AutoCanada Inc. reported a loss in its fourth quarter compared with a profit a year earlier as its revenue rose nearly seven per cent.
The automobile dealership group said it lost $22.6 million or 81 cents per share for the quarter ended Dec. 31.
The loss compared with profit of $14.8 million or 52 cents per diluted share a year earlier.
Revenue totalled $1.48 billion, up from $1.39 billion in its fourth quarter of 2022.
AutoCanada executive chair Paul Antony says the company saw solid growth in new vehicle sales and a robust contribution from parts, service, and collision repair.
He says the gains were tempered by a decrease in used vehicle sales, primarily in the U.S. market, as well as higher interest rates and consumer preferences for affordable vehicles and minimal financing.
This report by The Canadian Press was first published March 7, 2024.
Companies in this story: (TSX:ACQ)