Stock Spotlight: CAR Group Limited (ASX:CAR)

This week's Stock Spotlight is ASX-listed CAR Group Limited.


About CAR Group Limited.


CAR Group Limited engages in the operation of online automotive, motorcycle, and marine classifieds business in Australia, New Zealand, Brazil, South Korea, Malaysia, Indonesia, Thailand, Chile, China, the United States, and Mexico. The company operates through six segments: Australia - Online Advertising Services; Australia - Data, Research and Services; Investments; North America; Latin America; and Asia segments. The Australia - 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 for corporate customers comprising automotive manufacturers and finance companies. The Australia - 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 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.


Source: Yahoo Finance



Key Stats

Source: Yahoo Finance, ASX. Data as of 20/08/24.


Price Performance

Growth Potential

  • Leading market position in online car classifieds in Australia.
  • Overseas expansion provides new growth opportunities and higher growth opportunities – e.g. South Korea, North America, and Brazil.
  • Increasingly diversified geographic coverage.
  • Bolt-on acquisitions provide opportunities to supplement organic growth.
  • The Company can sustain high single-digit and low double-digit revenue growth.
  • CAR’s move into adjacent products and industries.
  • Looking to take more of the car buying experience online with dealers (i.e. increasing its total addressable market).
  • Product innovation helps drive increased moat around CAR’s market position.

Key Risks


  • Trading on relatively higher trading multiples.
  • Competitive pressures, that is car dealer driven substitute platform or the No. 2 & 3 player gain ground on CAR.
  • Motor vehicle sales remain subdued.
  • Value destructive acquisition / execution risk with international strategy.
  • Not immune from broader downturn in economy (consumer likely to delay a significant purchase in time of uncertainty).

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Disclaimer: This article does not constitute financial advice nor a recommendation to invest in the securities listed. The information presented is intended to be of a factual nature only. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing.

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