AutoCanada has sold three British Columbia dealerships for gross proceeds of approximately $32.2 million. The proceeds included $3.4 million for the sale of the real estate.
The sale included Island Chevrolet Buick GMC in Duncan, Abbotsford Volkswagen and Chilliwack Volkswagen, which generated about $111 million in revenue during the year ending on March 31, 2026. Together, they recorded a net loss of $1 million during the period.
The three B.C. dealerships were outside AutoCanada’s main regional groups, which, according to the company, limited opportunities to share services and reduce costs across nearby locations.
“While we are committed to growing our dealership network across Canada, we will not tolerate assets that do not meet our long-term return objectives,” CEO Samuel Cochrane said.
The sale comes as AutoCanada works to improve its dealership results and lower its debt. Revenue from continuing operations fell 4.1% to $1.19 billion in the first quarter, while the company recorded a net loss of $3.3 million. It earned $9.7 million during the same period in 2025.
The net proceeds will be used to pay down its revolving credit facility. AutoCanada’s net debt stood at 3.96 times the earnings measure used by its lenders at March 31. Its target range is between 2.0 and 3.0 times.
AutoCanada is also selling its U.S. dealership portfolio, which operates under the Leader Automotive Group name in Illinois.
Following the B.C. sale, AutoCanada operates 61 franchised dealerships and three independent used vehicle dealerships in Canada. Its collision division operates 37 collision centres.
