Canada's largest publicly-owned auto dealership group is determined to prop up its stock value after a year of significant changes in its executive structure.
Improving the efficiency of dealership operations, managing financing and debt, and expanding its brands and dealerships is a viable business model at a time when falling oil prices, unemployment and a drop in auto sales in Alberta have hit the Edmonton-based company, said Steven Landry, president of AutoCanada Inc.
The company’s basic earnings per share dropped precipitously over the last two years, falling to just nine cents a share in 2016, from 93 cents in 2015. In 2014, it was $2.31 a share.
“If you can’t control the industry and you can’t control oil, what you can do is manage your way in those environments,” Landry said in an interview with Automotive News Canada.