CAR Group Limited
ASX-CAR
Company Overview
CAR Group Limited operates online automotive, motorcycle, and marine classifieds business in Australia, Brazil, South Korea, Malaysia, Indonesia, Thailand, Chile, China, the United States, and Mexico. The company operates through Online Advertising Services; Data, Research and Services; Carsales Investments; North America; Latin America; and Asia segments. The Online Advertising Services segment offers classified advertising that allows private and dealer customers to advertise automotive and non-automotive goods and services for sale across the carsales network; products, including subscriptions, lead fees, listing fees, and priority placement services; and display advertising services, such as placing advertisements on carsales network websites for corporate customers comprising automotive manufacturers and finance companies. The Data, Research and Services segment offers software as a service, research and reporting, valuation, appraisals, and website development and hosting services, as well as photography services. The Carsales Investments segment holds investment in consumer and wholesale tyre markets, as well as provides mobility and vehicle inspection services. The North America segment operates digital non-automotive marketplaces. The Latin America segment digital automotive marketplaces. The Asia segment is involved in digital automotive classified business, as well as provides automotive data and advertising services. The company was formerly known as carsales.com Ltd and changed its name to CAR Group Limited in November 2023. CAR Group Limited was incorporated in 1996 and is headquartered in Melbourne, Australia.
Name
CAR Group Limited
CEO
William John Elliott
Website
cargroup.com
Sector
Interactive Media and Services
Year Founded
1996
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Bulls Say
Car Group's online marketplace for Australian automotive, www.carsales.com.au, has established itself as the undisputed leading online marketplace for automotive, supported by networks effects and cost advantages.
Car Group has launched new products in Australia to capture a larger part of the automotive retail value chain, which will increase its take rate over time.
Car Group has a history of successful overseas expansions and recent investments in lower-maturity online marketplaces in the United States and Brazil provide opportunity for growth.
Bears Say
Car Group's recent investments in overseas online marketplaces have been done at arguably expensive multiples.
Car Group invests in online marketplaces in developing markets, especially Latin America, where significant investment may be required to capture the market.
Self-driving cars may affect the share of the population owning private vehicles and therefore shrink the market in which Car Group operates.