AutoCanada Advances U.S. Exit Strategy with Illinois Dealership Sale

AutoCanada Inc. has taken a significant step in its exit strategy from the U.S. market by selling the Hyundai of Lincolnwood dealership in Illinois. This move is part of the company’s broader plan to divest its American operations.

Details of the Illinois Dealership Sale

The transaction generated approximately $3.3 million in cash. This amount accounts for goodwill and fixed assets, not including inventory and net working capital. The dealership had been classified as part of discontinued operations since the end of 2024.

Financial Impact of U.S. Divestiture

To date, AutoCanada has secured around $65.8 million in gross proceeds from the sale of its U.S. assets, after adjusting for working capital. The company anticipates total proceeds from the divestiture of all U.S. dealerships will fall within the previously estimated range of $115 million to $130 million.

AutoCanada’s Operations Overview

In addition to its U.S. sales, AutoCanada operates 64 auto dealerships across eight provinces in Canada, along with 33 collision centers. The company is streamlining its operations to focus solely on its Canadian assets.

This strategic shift marks a pivotal moment for AutoCanada as it realigns its business to enhance its performance in the Canadian market. The transaction reinforces the company’s commitment to its core operations while managing its exit from the competitive U.S. automotive landscape.