Operator

Thank you for joining AutoCanada's conference call to discuss the financial results for the first quarter of 2026. I'm Louie, 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 first quarter news release, financial statements and MD&A.

[Operator Instructions]

I'd now like to turn the call over to Mr. Samuel Cochrane, Chief Executive Officer and Interim Chief Financial Officer of AutoCanada Inc. You may begin.

Samuel Cochrane
CEO & Interim CFO

Good evening, everyone, and thank you for joining us. Before discussing our quarter, I want to begin with a few comments on the broader operating environment. As we move through the first quarter and into the early part of the second quarter, the Canadian automotive market remained soft. Industry demand for new light vehicles continued to decline year-over-year as consumers faced elevated vehicle pricing, persistent affordability concerns, rising fuel costs and broader macroeconomic uncertainty.

Fuel prices are an important factor to monitor closely. Higher fuel costs can influence consumer appetite for vehicle purchases, impact discretionary spending on service and maintenance, which can sometimes be deferred and even affect kilometers driven, which has implications for collision demand over time. While collision remains a resilient business, we are mindful that consumer behavior can shift in this type of