AutoCanada Inc. ACQ-T reported a loss in its fourth quarter compared with a profit a year earlier as its revenue rose nearly seven per cent.
The automobile dealership group said it lost $22.6-million or 81 cents per share for the quarter ended Dec. 31.
The loss compared with profit of $14.8-million or 52 cents per diluted share a year earlier.
Revenue totalled $1.48-billion, up from $1.39-billion in its fourth quarter of 2022.
AutoCanada executive chair Paul Antony says the company saw solid growth in new vehicle sales and a robust contribution from parts, service, and collision repair.
He says the gains were tempered by a decrease in used vehicle sales, primarily in the U.S. market, as well as higher interest rates and consumer preferences for affordable vehicles and minimal financing.