Latest news with #PaulAntony
Cision Canada
a day ago
- Automotive
- Cision Canada
AutoCanada Selects CarGurus as Preferred Partner Powering its Digital Marketing and Business Intelligence Strategy
EDMONTON, AB, July 21, 2025 /CNW/ - AutoCanada Inc. (TSX: ACQ), a multi-location North American automobile dealership group, today announced that it has selected CarGurus (Nasdaq: CARG), the fastest-growing automotive shopping site in Canada 1, as its preferred partner in Canada. Through this long-term relationship, AutoCanada will have access to the power and reach of CarGurus' leading listings marketplace, advanced digital marketing and retail solutions, and market intelligence powered by proprietary data and predictive insights. "Consumer expectations continue to evolve and AutoCanada remains committed to delivering a best-in-class experience that supports shoppers at every stage of their journey," said Paul Antony, Executive Chairman of AutoCanada. "We believe partnering with CarGurus will enable AutoCanada to fuel our growth through enhanced marketing performance, deeper data-driven decision-making, and greater access to high-quality consumer connections." AutoCanada dealers will benefit from CarGurus' solutions that help maximize visibility, connect with ready-to-buy shoppers, and make more data-informed decisions on vehicle pricing, inventory management, and digital advertising. The group's 64 franchised dealerships and three used car dealerships in Canada will also have ongoing access to strategic consultation from CarGurus' in-person dealer engagement team, helping them navigate shifting market dynamics and consumer behavior. "By combining our performance-driven solutions and deep market intelligence with AutoCanada's extensive dealership network, we aim to help their stores connect with more car buyers with greater efficiency and leverage actionable insights," said Sam Zales, President & Chief Operating Officer at CarGurus. "We value the opportunity to deepen our relationship as AutoCanada's strategic partner." About AutoCanada 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. In addition, AutoCanada's Canadian Operations segment currently 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. In addition, our collision centres offer an opportunity for the Company to retain customers at every touchpoint within the automotive ecosystem. AutoCanada's U.S. Operations segment, operating as Leader Automotive Group, operates 17 franchised dealerships comprised of 15 brands, in Illinois, USA. Leader currently sells Audi, Chevrolet, Chrysler, Dodge, Honda, Hyundai, Jeep, Kia, Lincoln, Mercedes-Benz, Porsche, Ram, Subaru, Toyota, and Volkswagen branded vehicles. In 2024, our U.S. dealerships sold approximately 12,900 new and used retail vehicles.
Edmonton Journal
a day ago
- Automotive
- Edmonton Journal
Canadian auto dealership chain on the hunt to buy competitors, dumps U.S. laggards
An Alberta-based chain of auto dealerships is in pursuit of Canadian competitors to buy after selling more than a dozen struggling car lots in the United States. Article content AutoCanada Inc., which already owns 64 dealerships in eight provinces, says it has ambitions to dramatically expand its reach in Canada, with plans to leave the U.S. completely. It's putting Canadian dealerships on notice that it aims to be a top consolidator in the industry. Article content Article content Article content 'As long as everything holds like this, there's no reason why this company couldn't be double the size or greater in the next three to five years,' said Paul Antony, the chair of AutoCanada's board. Article content Article content The company, based in Edmonton, is selling 13 dealerships in the U.S. to undisclosed buyers for $82.7 million, leaving four other American lots to offload before its strategy to exit the country is finished. Article content AutoCanada took its first shot at the U.S. market in 2018, when it bought eight dealerships and an auto mall in and around Chicago for $110 million, but Antony said the deal was a mistake. Article content 'The reason I was brought in to AutoCanada was this deal actually nearly bankrupt the company because they were under-performing assets,' he said. Article content 'We were forced to try and put somebody in to fix it. And we've gone through several leaders in the United States. What was clear to me is that our time is better spent in Canada for now.' Article content Article content Antony says U.S tariffs and Canadian counter-tariffs on autos did not factor into the company's decision to sell. He says it was mainly focused on finding the right price and buyer to take on its American dealerships. Article content Article content As the company shifts its focus north of the border, Antony says sales are steady at the Canadian dealerships. Article content Analysts had predicted that tariffs would spike the price tag of new vehicles, turning customers away. But that hasn't been the case so far. Article content Canadian auto sales were up by 5.5 per cent in the first six months of the year, compared to the same stretch of 2024, according to a Scotiabank report. Still, sales have slowed meaningfully since a spike earlier in the year when car buyers were likely trying to get ahead of tariffs, the report said.
Yahoo
a day ago
- Automotive
- Yahoo
Canadian auto dealership chain on the hunt to buy competitors, dumps U.S. laggards
An Alberta-based chain of auto dealerships is in pursuit of Canadian competitors to buy after selling more than a dozen struggling car lots in the United States. AutoCanada Inc., which already owns 64 dealerships in eight provinces, says it has ambitions to dramatically expand its reach in Canada, with plans to leave the U.S. completely. It's putting Canadian dealerships on notice that it aims to be a top consolidator in the industry. 'As long as everything holds like this, there's no reason why this company couldn't be double the size or greater in the next three to five years,' said Paul Antony, the chair of AutoCanada's board. The company, based in Edmonton, is selling 13 dealerships in the U.S. to undisclosed buyers for $82.7 million, leaving four other American lots to offload before its strategy to exit the country is finished. AutoCanada took its first shot at the U.S. market in 2018, when it bought eight dealerships and an auto mall in and around Chicago for $110 million, but Antony said the deal was a mistake. 'The reason I was brought in to AutoCanada was this deal actually nearly bankrupt the company because they were under-performing assets,' he said. 'We were forced to try and put somebody in to fix it. And we've gone through several leaders in the United States. What was clear to me is that our time is better spent in Canada for now.' Antony says U.S tariffs and Canadian counter-tariffs on autos did not factor into the company's decision to sell. He says it was mainly focused on finding the right price and buyer to take on its American dealerships. As the company shifts its focus north of the border, Antony says sales are steady at the Canadian dealerships. Analysts had predicted that tariffs would spike the price tag of new vehicles, turning customers away. But that hasn't been the case so far. Canadian auto sales were up by 5.5 per cent in the first six months of the year, compared to the same stretch of 2024, according to a Scotiabank report. Still, sales have slowed meaningfully since a spike earlier in the year when car buyers were likely trying to get ahead of tariffs, the report said. Car prices were supposed to spike because of tariffs Canada's auto industry at 'hinge moment' Bullish on the Canadian market, Antony says he's looking to drive down costs and pay off debt to prepare AutoCanada for its expansion. 'I think that what you'll find over the course of the next year or two is with our new business model, we're going to be in a position to really get into the mergers and acquisition business, and really, really increase the size and scope of our business,' he said. • Email: rsouthwick@ Sign in to access your portfolio
CTV News
11-07-2025
- Automotive
- CTV News
Auto dealership company AutoCanada looking for a chief executive
EDMONTON — AutoCanada Inc. says it has started a search for a chief executive after Paul Antony announced he will transition from his role as executive chair. Once a new chief executive is in place, the company says Antony will serve as non-executive chair for a transition period.
Winnipeg Free Press
11-07-2025
- Automotive
- Winnipeg Free Press
Auto dealership company AutoCanada looking for a chief executive
EDMONTON – AutoCanada Inc. says it has started a search for a chief executive after Paul Antony announced he will transition from his role as executive chair. Once a new chief executive is in place, the company says Antony will serve as non-executive chair for a transition period. AutoCanada lead independent director Chris Harris thanked Antony for his service and dedication to the company. He says Antony navigated AutoCanada through many challenges and built a strong foundation. The company says Antony helped AutoCanada strengthen its balance sheet, significantly reduce its debt and position itself as a credible consolidator in the Canadian auto retail business. AutoCanada operates auto dealerships in Canada and the United States under a wide variety of brands. This report by The Canadian Press was first published July 11, 2025. Companies in this story: (TSX:ACQ)
