AutoCanada Inc. Announces the Purchase of Two Volkswagen Dealerships

EDMONTON, Nov. 10, 2011 /CNW/ - AutoCanada Inc. ("AutoCanada") (TSX:ACQ) announced today that it has completed the purchase of the assets of two dealerships formerly known as Valley Autohouse, located in Abbotsford and Chilliwack, British Columbia, to be continued under the names of Abbotsford Volkswagen and Chilliwack Volkswagen. The two dealerships have been in receivership since October 27, 2011 and have ceased operations since that time.  It is Management's plan to resume operations during the week of November 14, 2011.  The Abbotsford facility is an approximately 9,300 sq. ft. leased facility which includes eight service bays and a six car showroom. The dealership has been in operation since 1986 and in 2010 retailed approximately 210 new and 190 used vehicles.  The Chilliwack facility is an approximately 4,500 sq. ft. leased facility which includes 3 service bays and a single car showroom.  The dealership has been in operation since 2002 and in 2010 retailed approximately 30 new and 40 used vehicles.

"We are extremely pleased to expand our presence in the Fraser Valley, a very strong market within one of our existing dealership platforms." stated Pat Priestner, CEO of AutoCanada.  "We are excited to continue to build our relationship with Volkswagen Canada and we believe that VW will continue to be one of the fastest growing brands in North America."

About AutoCanada

AutoCanada is one of Canada's largest multi-location automobile dealership groups, currently operating 24 franchised dealerships in six provinces and has over 1,100 employees.  AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Infiniti, Nissan, Hyundai, Subaru, Mitsubishi and Volkswagen branded vehicles. In 2010, our dealerships sold approximately 24,000 vehicles and processed approximately 317,000 service and collision repair orders in our 339 service bays at that time.

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

SOURCE AutoCanada Inc.

For further information:

Jeff Christie, CA
Vice-President, Finance
Phone:  (780) 732-7164
Email: jchristie@autocan.ca


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