EDMONTON, AB, Aug. 13,
2024 /CNW/ - AutoCanada Inc. ("AutoCanada or the
"Company") (TSX: ACQ) announced that it identified a cybersecurity
incident on August 11, 2024 that has
impacted its internal IT systems.
Immediately upon detecting the incident, AutoCanada took action
to safeguard its network and data. This included engaging
with leading cybersecurity experts to assist us with containment
and remediation efforts, as well as to conduct a thorough
investigation to understand the scope and impact of the
incident.
As the investigation is ongoing, the full scope, nature and
impact of the incident, including the extent to which any customer,
supplier or employee data has been accessed is not yet known.
Although our business operations remain open at this time, the
incident may result in disruptions until the relevant systems are
fully restored.
About AutoCanada
AutoCanada is a leading North American multi-location automobile
dealership group currently operating 84 franchised dealerships,
comprised of 28 brands, in eight provinces in Canada as well as a group in Illinois, USA. AutoCanada currently sells
Acura, Alfa Romeo, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge,
FIAT, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Lincoln, Mazda, Mercedes-Benz, MINI, Nissan,
Porsche, Ram, Subaru, Toyota, Volkswagen, and Volvo branded
vehicles. In addition, AutoCanada's Canadian Operations segment
currently operates three used vehicle dealerships and one used
vehicle auction business supporting the Used Digital Retail
Division, 13 RightRide division locations, and 11 stand-alone
collision centres within our group of 27 collision centres. In
2023, the Company generated revenue in excess of $6 billion and our dealerships sold over 100,000
retail vehicles.
Additional information about AutoCanada is available at the
Company's website at www.autocan.ca and www.sedarplus.ca.
Forward-Looking Statements
Certain statements contained in this press release are
forward-looking statements and information (collectively,
"forward-looking statements") within the meaning of the applicable
Canadian securities legislation. We hereby provide cautionary
statements identifying important factors that could cause our
actual results to differ materially from those identified in these
forward-looking statements. Any statements that express, or involve
discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always,
through the use of words or phrases such as "will likely result",
"are expected to", "will continue", "is anticipated", "projection",
"vision", "goals", "objective", "target", "schedules", "outlook",
"anticipate", "expect", "estimate", "could", "should", "plan",
"seek", "may", "intend", "likely", "will", "believe" and similar
expressions) are not historical facts and are forward looking. In
particular, this press release contains forward-looking statements
with respect to, among other things, our assessment of the scope
and impact of the cybersecurity incident.
AutoCanada cautions that the foregoing list of assumptions,
risks and uncertainties is not exhaustive and may be impacted by,
among other things, ongoing risks arising as a result of the
cybersecurity incident and our ability to mitigate and address
those risks. The Company's Annual Information Form and other
documents filed with securities regulatory authorities (accessible
through the SEDAR website at www.sedarplus.com) describe the risks,
material assumptions and other factors that could influence actual
results and which are incorporated herein by reference. The
forward-looking statements contained in this press release speak
only as of the date hereof and AutoCanada assumes no obligation to
publicly update or revise them to reflect new events or
circumstances, except as may be required pursuant to applicable
securities laws.
SOURCE AutoCanada Inc.