Callander, Ontario -- AutoCanada Inc. has completed the sale of North City Honda in Chicago, marking another step in the company’s strategy to shed underperforming U.S. assets.
The Edmonton-based dealership group confirmed on August 26 that it had received about $18.2 million in cash for goodwill and fixed assets, excluding inventory and net working capital. The proceeds will be applied to reducing the outstanding balance of AutoCanada’s revolving credit facility.
North City Honda, one of the U.S. stores reclassified as discontinued operations at the end of 2024, generated $66.6 million in sales and a net loss of $3.2 million in the 12 months ending June 30, 2025.
The sale of North City Honda follows a broader divestment program designed to streamline operations and bolster the balance sheet after a period of financial pressure in its U.S. segment.
AutoCanada had previously classified its U.S. operations as a discontinued segment in its 2024 financial reporting. The company is continuing efforts to sell its remaining four U.S. dealerships: Hyundai of Lincolnwood, Kia of Lincolnwood, Toyota of Lincoln Park and Toyota of Lincolnwood, all of which are also located in Illinois.
AutoCanada’s U.S. operations, which operate under the Leader Automotive Group banner, sold about 12,900 vehicles in 2024. Its Canadian operations span 64 franchised dealerships and 29 collision centres, with roughly 85,000 new and used retail vehicles sold last year.
