AUTOCANADA ACQUIRES NORTH TORONTO AUCTION [Daily Finance]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Daily Finance
group, announced that it has acquired North Toronto Auction (“NTA”), a fee-based used vehicle auction business, serving dealers and consumers alike, located in Innisfil, Ontario Operating for over 19 years serving Toronto and surrounding areas, NTA operates a state-of-the-art auction facility and has historically transacted over 5,000 vehicles per year. NTA's operations provide an in-house, in-person and online auction solution, which may be utilized to facilitate vehicle sales for both AutoCanada's used and franchise dealerships. Further, NTA has the ability to be utilized as a wholesale engine, balancing and redistributing vehicles inside and outside the AutoCanada network across North America , through a frictionless inventory management and transfer process. Additionally, NTA is also a source of vehicles as its sales team sources auction vehicles from governments, financial institutions, repossession companies, dealerships, rental fleets, and more. Apart from continuing to stren
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