AUTOCANADA AND KIJIJI EXPAND RELATIONSHIP
EDMONTON, AB and TORONTO, March 31, 2023 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, and Kijiji, the most visited automotive marketplace in Canada, announced today that they have agreed to strengthen and expand their existing strategic relationship. This includes a continuation of Kijiji's role as AutoCanada's preferred online marketplace partner in Canada, as well as the integration of consumer solutions developed by AutoCanada Used Digital on Kijiji.
The long-term agreement provides AutoCanada dealerships with expanded access to Kijiji's significant shopper audience while providing Kijiji with AutoCanada's nationwide inventory, both of which will provide car shoppers with greater selection on the Kijiji platform. AutoCanada Used Digital consumer solutions will also provide Kijiji users with value-added services in connection with used vehicle purchases and sales.
"Kijiji has been a trusted business partner since 2018 and we are very excited to expand our relationship across both our franchise and used vehicle initiatives," said Paul Antony, Executive Chairman of AutoCanada. "The integration of AutoCanada Used Digital consumer solutions on the Kijiji platform will also accelerate our existing efforts on the used vehicle segment of our business."
"We're thrilled to continue to partner with AutoCanada and are looking forward to unlocking increased value and functionality for our Kijiji users," said Leanne Kripp, Head of Autos at Kijiji. "We're confident this extended partnership will further improve the customer experience as we continue to provide AutoCanada's strong inventory offering to over 10 million users ."
AutoCanada is a leading North American multi-location automobile dealership group currently operating 82 franchised dealerships, comprised of 28 brands, in eight provinces in Canada as well as a group in Illinois, USA. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Ford, Infiniti, Nissan, Hyundai, Subaru, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, BMW, MINI, Volvo, Toyota, Lincoln, Acura, Honda and Porsche branded vehicles. In addition, AutoCanada's Canadian Operations segment currently operates three used vehicle dealerships and one used vehicle auction business supporting the Used Digital Retail Division, 11 RightRide division locations, and 10 stand-alone collision centres within our group of 25 collision centres. In 2022, our dealerships sold approximately 100,000 vehicles and processed over 900,000 service and collision repair orders in our 1,367 service bays generating revenue in excess of $6 billion.
Kijiji is the first marketplace in Canada to enable millions of Canadians to shop locally and sustainably. Since 2005, Kijiji has been a leader in helping Canadians make money and shop great deals in their communities. We span across over 400 categories from Home, Autos, Electronics, Services and more on our app. We are the #1 most visited automotive marketplace in Canada and #1 in Real Estate for rentals.
Forward Looking Statements
Certain statements contained in this press release are forward-looking statements and information (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. We hereby provide cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in these forward-looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "projection", "vision", "goals", "objective", "target", "schedules", "outlook", "anticipate", "expect", "estimate", "could", "should", "plan", "seek", "may", "intend", "likely", "will", "believe" and similar expressions) are not historical facts and are forward looking.
Further, any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by applicable law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.
The forward-looking statements included in this press release are not guarantees of future performance and should not be unduly relied upon. Readers are cautioned that forward-looking statements are based on current expectations, estimates and projections that, by their nature, forward-looking statements involve a number of known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated and described in the forward-looking statements. These known and unknown risks and uncertainties include, but are not limited to: future operating results, the impact of the COVID-19 pandemic on our operations, financial condition and liquidity and the duration of such impacts; potential changes in the regulatory and legislative environment; volatility in interest and tax rates; operating risks inherent in the automotive retail industry; and changes in general economic conditions including the capital and credit markets.
Forward-looking statements involve estimates and assumptions and are subject to risks, uncertainties and other factors some of which are beyond our control and difficult to predict. Accordingly, actual results or outcomes may differ materially from those expressed in the forward-looking statements.
AutoCanada cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The forward-looking statements contained in this press release speak only as of the date hereof and AutoCanada assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.
SOURCE AutoCanada Inc.