Tom Orysiuk, President and CEO of AutoCanada
“Management believes Ontario offers attractive returns in a growing market, and is currently engaged in discussions with potential acquisition targets,” said the company in its Q3 2015 earnings report.
AutoCanada also said it has approached OEMs that do not currently accept public ownership, and thinks it is making headway.
Having closed its recent purchase of Hunt Club Nissan in Ottawa, Ont., along with an Ottawa Nissan Open Point dealership, the company said it will likely meet its acquisition targets by May 2016.
AutoCanada reported revenue from existing and new dealerships increased 6.9 per cent or $50.7-million to $781.2-million in Q3 2015. That represents a gain from $730.5-million in the same quarter in 2014.
“With our third quarter and year-to-date operating and financial results as the back-drop we are looking forward to a strong finish to 2015 and towards ensuring AutoCanada being well prepared to face continued challenges in Alberta in fiscal 2016,” said Tom Orysiuk, President and CEO of AutoCanada.
