Auto Dealer Goes On $200 Million Buying Spree In Ontario
Auto Dealer Goes On $200 Million Buying Spree In Ontario
CanadaOne Auto Group has acquired 20 Ontario dealerships so far this year to stake a claim in Ottawa’s flourishing auto sales market
An Edmonton-based car dealer, CanadaOne Auto Group, has been investing heavily in the Ontario region’s auto retail landscape. So far this year, CanadaOne has acquired 20 auto dealership properties in the area for an aggregated transaction volume of $201 million.
In total, the sales have accounted for approximately 5% of all retail space sold in Ontario this year, both in terms of square footage and dollar volume.
CanadaOne employs more than 3,000 people in its 42 dealerships across Canada, with locations in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
The flourishing Ontario auto trade has benefitted from a combination of factors. Since the beginning of 2018, Ontario auto sales have surged from $4.5 billion to $6 billion. This growth reflects a robust post-pandemic economic recovery and population growth.
Historically, there has been a strong correlation between auto sales and the size of the labor force in Ontario, notwithstanding the auto sales blip experienced throughout the pandemic.
In addition, Prime Minister Justin Trudeau recently announced plans to impose 100% tariffs on Chinese electric vehicle (EV) companies, a move aimed at protecting the burgeoning domestic EV market and encouraging local production.
Ontario is also experiencing a boom in the development of EV battery factories. These facilities are crucial for supporting the growing demand for electric vehicles and positioning Ontario as a key player in the global EV market.
Also, the new bridge set to open between Windsor and Detroit, will enhance cross-border trade by streamlining logistics and reducing transportation costs, making it easier for Canadian manufacturers to export vehicles and parts to the United States and vice versa.
The combination of increased sales, strategic tariffs, and infrastructure advancements paints a promising picture for the auto industry’s future in Canada, particularly Ontario.
Source CoStar. Click here for the full story.
Comments
FOR LEASE – Office – Toronto
Address: 88 Laird Dr, Toronto, ON M4G 3V1 Available area: 2,860 Sq Ft Whole building (excluding the ...
FOR SALE – Office – Mississauga
Address: 2155 Dunwin St 28, 31, 32 Available area: 4,059 Sq Ft Price: $1,700,000 Exceptional Opportu ...
FOR SALE – Land – Meaford, ON
Available area: 18.57 Acres Price: $1,275,000 Prime opportunity to own nearly 20 acres of vacant, fr ...
SUBLEASED – Industrial Space – Mississauga
Address: 1725 Matheson Boulevard, 2 Mississauga L4W1Z1 Available Area: 7,515 SF Lease Rate: $13.00 S ...
FOR LEASE – Industrial Space – Uxbridge
Address: 22 Anderson Blvd, Uxbridge, ON Available Area: 15,341 SF Lease Rate: $16.00 Per Sq Ft + TM ...
FOR LEASE – Office/Medical – Toronto
Address: 685 Sheppard Ave E, Toronto Available area: 3,901 Sq Ft – $23.50 Sq Ft Net + $17.68/2 ...
FOR SUBLEASE – Office Space – Oakville
Address: Unit 100 – 1415 Joshuas Creek Dr., Oakville Available area: 8,399 ...
FOR LEASE – Office Spaces – Scarborough
Address: 2300 Lawrence Ave E, Toronto Available units: #218 – 1,248 SF – $11.00 psf + $1 ...
Toronto Commercial Properties
Stephen & Mariya Lilly
Brokers
Office: 416-494-7653
Mariya Cell: 416-824-5078
Stephen Cell: 416-802-4228
descargar vídeo de facebook zonaleros | Nov 2,2024
Your blog has quickly become one of my favorites. Your writing is both insightful and thought-provoking, and I always come away from your posts feeling inspired. Keep up the phenomenal work!
bestiptv smarters | Nov 7,2024
I do not even know how I ended up here but I thought this post was great I do not know who you are but certainly youre going to a famous blogger if you are not already Cheers