AutoCanada Inc. Announces Purchase of Hyundai Dealership

EDMONTON, April 12 /CNW/ - AutoCanada Inc. ("AutoCanada") (TSX:ACQ) announced today that it has completed the purchase of the assets of the dealership formerly known as Future Hyundai, located in Mississauga, Ontario, to be continued under the name 401/Dixie Hyundai. The approximately 9,500 sq. ft. leased facility out of which the dealership operates provides for eight service bays and a five car showroom. The dealership has been in operation since 1996 and in 2009 retailed approximately 600 new and 250 used vehicles.

"Hyundai is a great franchise that has experienced strong growth and has developed a world-class product line up," stated Pat Priestner, CEO of AutoCanada. "This acquisition allows us to build upon our dealership platform in the greater Toronto area, the largest customer base in Canada, with the right franchise for this marketplace, and to have the opportunity to build on our strong partnership with Hyundai Auto Canada in Mississauga."

    
    About AutoCanada
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AutoCanada is one of Canada's largest multi-location automobile dealership groups, currently operating 23 franchised dealerships in six provinces and has over 1,100 employees. AutoCanada currently sells Chrysler, Dodge, Jeep(R), Infiniti, Nissan, Hyundai, Subaru, Mitsubishi and Volkswagen branded vehicles. In 2009, its franchised automobile dealerships sold approximately 23,000 vehicles, processed approximately 300,000 service and collision repair orders in our 331 service bays and generated revenue of approximately $777 million.

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

For further information: Tom Orysiuk, CA, Executive Vice-President and Chief Financial Officer, Phone: [phone], Email: [email protected]