AutoCanada acquired North Toronto Auction

AutoCanada acquired North Toronto Auction (NTA), a fee-based used vehicle auction business, located in Innisfil, Ontario.

Operating for over 19 years, NTA operates an auction facility and has transacted over 5,000 vehicles per year. NTA’s operations provide in-house, in-person and online auction solution, which may be utilized to facilitate vehicle sales for both AutoCanada’s used and franchise dealerships.

“We’re excited to add NTA’s high-quality auction operations and proprietary digital auction software to the Used Digital Retail Division as it has the potential to facilitate wholesale vehicle transactions at scale, both internally, across AutoCanada dealerships, and externally to other dealers,” said Paul Antony, executive chairman. “This represents our initial foray into the auction business; however, many of the successful used vehicle operators in the U.S. also own their own auctions as it allows for the vertical integration of inventory management and a reduction in fees paid to auctions. We are pleased to welcome the experienced NTA management team to the AutoCanada family, and we look forward to continuing its legacy into the future.”