Edmonton, Alberta — AutoCanada reported its Q2 financials last Thursday, where it stated its parts, services and collision repair operations had a “robust performance.”
Consolidated gross profit increased to $318.7 million, up 14.1 percent. The primary drivers of gross profit were higher new vehicle sales volumes and strong performances from AutoCanada’s used retail vehicle division; its parts and services business and in collision repair.
Recent acquisitions were also a driver, wrote the company. In Q2 2023, AutoCanada acquired a dealership and collision centre in Windsor, Ont., and London Auto Collision in London, Ont.
For same-store metrics in Canadian operations, AutoCanada said gross profit increased 6.9 percent as a result of “strong performances from all areas of the business, particularly in parts, service and collision repair.”
Revenues for the quarter rang in at $1,548.6 million, marking an increase of 7.7 percent.
Click here for AutoCanada’s full Q2 2023 results.
