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AutoCanada, Inc. ( OTCPK:AOCIF ) Q3 2024 Earnings Conference Call November 13, 2024 6:00 PM ET Company Participants Paul Antony - Executive Chairman Sam Cochrane - CFO Conference Call Participants David Ocampo - Cormark Securities Luke Hannan - Canaccord Genuity Krista Friesen - CIBC Maxim Sytchev - National Bank Financial Operator Thank you for joining AutoCanada's Conference Call to discuss Financial Results for the Third Quarter of 2024. I'm John, your moderator for today's call.
Before we begin, I'd like to remind everyone that today's discussion may include forward-looking statements, which are subject to risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements. I encourage you to review AutoCanada's filings on SEDAR+ for a discussion of these risks, the third quarter news release, financial statements, and MD&A.
All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions].
I'd like to remind everyone that this conference call is being recorded today, Wednesday, November 13, 2024. Now, I'd like to turn the conference call over to Mr. Paul Antony, Executive Chairman of AutoCanada, Inc.
Please go ahead, Mr. Antony. Paul Antony Thank you, operator.
Hello everyone and thank you for joining us. I want to begin by noting that today's call was prerecorded. So, while I won't be able to join for the live Q&A, our CFO, Sam Cochrane, will be able at the end to take your questions.
During the third quarter of 2024, the Canadian automotive industry continued to experience the effects of softer market conditions, affordability, pressures driven by inflation, a softening labor market, and higher interest rates have impacted consumer preferences. We're seeing these dynamics reflected in lower gross profit per unit as well as reduced demand for finance and insurance products as consumers focus on.
