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Tag: used cars

  • Carsome Posts US$8.3 Million Quarterly EBITDA as Retail Shift Widens Margins

    Carsome Posts US$8.3 Million Quarterly EBITDA as Retail Shift Widens Margins

    Malaysian used-car platform Carsome posted an operating EBITDA of US$8.3 million for the second quarter of 2026. That is a 38 per cent increase from the same period a year earlier.

    Sales reached 35,903 vehicles during the three months ended June 30, up 11 per cent. That volume lifted gross profit 15 per cent to US$43.8 million. The result gave Carsome its tenth straight profitable quarter on an EBITDA basis. Consumer retail transactions and auto financing drove the gains.

    Retail and Financing Drive Margin Expansion

    Gross profit outpaced unit sales as the platform shifted volume toward retail buyers. Ancillary products helped widen margins. Financing packages, extended warranties and direct retail margins yield higher earnings per transaction than wholesale dealer auctions.

    Under a new agreement, Carsome will serve as the exclusive official trade-in partner for Suzuki Cars Malaysia. The pact channels structured inventory directly into its inspection network. It secures steady supply while carmakers use trade-in valuations to support new-vehicle sales as borrowing costs pinch consumer budgets.

    Other players across Southeast Asia show a similar pattern. Regional rivals Carro, based in Singapore, and Indonesia’s Moladin have also pivoted away from venture-funded volume acquisition. Both now target unit profitability, credit distribution and ancillary services.

    Showroom Additions in Malaysia and Jakarta

    Physical inspection hubs and retail centres led network growth during the quarter. In Malaysia, Carsome opened three locations in Sungai Petani, Bukit Tinggi in Klang, and Sungai Buloh. That took its domestic network to 55 inspection centres and showrooms.

    Across Indonesia, the company added four locations in Greater Jakarta, expanding its local footprint to 10 sites. Vehicle ownership in Indonesia trails Malaysia and Thailand. Even so, the market offers heavy transaction volume for operators able to resolve fragmented title transfers, vehicle vetting and buyer credit access.

    Looking ahead, management will focus the rest of the financial year on transaction growth, financing attachment rates and fixed-cost efficiency across its 65 combined retail locations.

  • Auto firm links sales of used cars and new vehicles

    Auto firm links sales of used cars and new vehicles

    An auto services firm is riding the internet and technologies such as big data to adopt a new business model that integrates used-car and new-car sales businesses, including features such as financing and after-sales services.

    On Oct 31, Guazi.com, China’s largest used-car dealer, announced its transformation into a car trading company, connecting its used-car business with Maodou.com, its newly developed brand of new-car retail.

    The integrated services span the entire life cycle of a car. Guazi’s user database and technical services would be used by Maodou.com as well.

    Called “CARS”, the new company offers its customers a “one-stop” shop for buying, selling and renting new cars and used cars, said Yang Haoyong, CEO of Maodou.com.

    “On Maodou.com, consumers can choose to rent a new car for up to four years, and then decide whether to buy the car or rent another new car,” he said.

    The used car will later be put up for sale on Guazi. The new car platform is especially welcome for young consumers, as price is a key factor for them, Yang said.

    “The down-payment for a new car is now as low as zero to 10 percent. Four years later, if the user wants, he can return the car and get another brand new one,” he said.

    “The market is now large. But consumers lack confidence in the used-car market in China. Maodou may be a great news for those who prefer a new car but haven’t saved enough money yet.

    “Additionally, the new brand satisfies the needs of those people, especially the millennials, who are constantly pursuing new things.”

    CARS has received funding from global investors such as Capital Today, Bank of China Group Investment Ltd, and Hong Kong-based DST Global.

    It has also teamed up with more than 10 financial institutions such as Bank of China, China Merchants Bank, Industrial and Commercial Bank of China, and Shanghai Pudong Development Bank, to build common digital platforms to push car sales and rentals.

    Zhao Xiang, an auto analyst at Beijing-based research firm Analysys, said: “The new-car service is a wise choice. Those selling used cars on Guazi usually tend to buy a new car, so Maodou would be helpful for them.

    “From this kind of ecosystem, auto companies can expand their business and broaden channels to monetize traffic (to their websites, apps and offline stores).”

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