ACQ AutoCanada Inc

EDMONTON, AB, Nov. 16, 2023 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced that it has received approval to open a Porsche Classic & Service Centre in Windsor, Ontario.

Porsche Classic & Service Centre Windsor (the "Centre") will offer Classic Porsche vehicle sales, service and parts. In principle, Porsche Classic takes over the care of Porsche vehicles 10 years after their end of production.  The Centre will be the first Porsche Classic centre in Canada and there are currently only four Porsche Classic partners within Porsche centres in Canada.  The Centre will also be a Genuine Porsche service and parts centre.

Porsche Classic & Service Centre Windsor will complement Porsche Centre London, AutoCanada's existing Porsche dealership in London, Ontario.  Porsche Classic & Service Centre Windsor is expected to be completed in the fourth quarter of 2025.

"We would like to thank Porsche Cars Canada for its continued confidence in AutoCanada through the awarding of this opportunity," said Paul Antony, Executive Chairman of the Company.  "We are excited to be able to open the first standalone Porsche Classic Centre in Canada and to better serve Porsche customers in Southwestern Ontario by increasing service capacity and reducing drive times."

Porsche Classic aims to preserve and maintain legendary vehicles and the latest classics. Decades of experience with classic Porsche vehicles make the experts the right contacts when it comes to original parts, restoration and repair.

In principle, Porsche Classic takes over the care of vehicles 10 years after their end of production. The experts are therefore currently looking after the 356, 911 (up to and including the 996 generation), 912, 959, 914, 924, 944, 928, 968, Boxster (Type 986), Carrera GT (Type 980) and the first-generation Cayenne models (Type 9PA). From 2023 onward, the 911 (Type 997), Boxster and Cayman (Type 987) models are also supported by Porsche Classic.

The Genuine Parts and Accessories business unit has a key role to play in the maintenance of the many classic Porsche models. With the production and provision of more than 80,000 Porsche Classic genuine parts, Porsche ensures that its classics will be on the road for a long time to come. Since 2023, there have been new issues of more than 2,000 original parts, and the range is growing steadily. The Performance Parts range and other lifestyle and accessory products with a historical reference have been added, which serve to enhance performance or increase the comfort, design and also the everyday suitability of the classic vehicles. Technical literature is also available. The full scope of Porsche Classic is completed by the factory restoration and the fulfilment of individual customer dreams within the scope of the newly launched Sonderwunsch programme.

AutoCanada is a leading North American multi-location automobile dealership group currently operating 83 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 3 used vehicle dealerships and 1 used vehicle auction business supporting the Used Digital Retail Division, 12 RightRide division locations, and 11 stand-alone collision centres within our group of 27 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. 

Additional information about AutoCanada is available at www.sedarplus.ca and the Company's website at www.autocan.ca. 

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", "shall" and similar expressions) are not historical facts and are forward-looking and may 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, these factors could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. Therefore, any such forward-looking statements are qualified in their entirety by reference to the factors discussed throughout this press release.

The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedarplus.ca) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference.

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.

SOURCE AutoCanada Inc.