2025 Mitsubishi Xforce HEV hits Thailand with RM118k starting price, 4.1L/100km efficiency - is it a HR-V killer?
All-New 2025 Volvo EX90 previewed in Malaysia, from est. RM450k - Closer Look At New Swedish EV SUV Flagship
2025 Proton Saga gets new Blue colour for Egypt, CKD operations started, annual capacity 40k units, EVs planned
Home News Auto News CARSOME Delivers Record 2Q2024 Results and Announces RM200mil New Financing Partnerships to Drive Further Profitable Growth CARSOME Delivers Record 2Q2024 Results and Announces RM200mil New Financing Partnerships to Drive Further Profitable Growth Auto News Jim Kem | September 12, 2024 01:01 pm CARSOME Group Inc., Southeast Asia’s largest car e-commerce platform, announced its most successful quarter yet in 2Q2024. The company traded around 35,000 vehicles and achieved a 9% quarter-on-quarter (QoQ) revenue growth, surpassing USD310 million (about RM1.3 billion). Despite the tough macroeconomic environment, CARSOME maintained a gross margin above 10%, with EBITDA growing over three times compared to the previous quarter. This milestone continues the profitable growth streak that began in December 2023. To further bolster its expansion, CARSOME has formed new financing partnerships with Ambank Group and Maybank, securing over RM200 million in additional working capital. These partnerships will help fuel the company’s growth in financing, insurance, aftersales, and otherrelated services, enhancing its ability to offer a one-stop solution for dealers and customers. Eric Cheng, CARSOME’s Co-founder, Chairman, and Group CEO, attributed the strong performance to the company’s effective strategies and brand strength, saying: "This quarter’s results are a continuation of our profitable growth strategy. Our GPU (Gross Profit per Unit) is up by more than 5% QoQ, even as customer acquisition costs continue to come down significantly, which is a testament to our strong execution, our value proposition, and our brand equity. We will continue on this path and remain on track to deliver a record year.” “I am honored by the support from our banking partners, and I am very excited about CARSOME Capital and the opportunities to expand our ancillary offerings. We have established a strong operational track record empowered by a robust in-house origination and underwriting capability, with NPL below 2% for retail and 0.1% for wholesale. With the additional financing support and our demonstrated capabilities, we are well-positioned to leverage our scale to expand this business further. This will allow us to better serve current and new customers throughout their vehicle ownership journey, keeping CARSOME top-of-mind," he said. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags Carsome Used Cars Malaysia Carlist Group Capital Profit Revenue Q2 2024 Print Jim Kem Content Producer There's just something about cars. It's a conveyance, it's a liability, it's a tool; but it can also be a source of joy, pride, inspiration and passion. It's much like clothes versus fashion. And like the latter, the pursuit of perfection never ends. Related News Why Selling Your Car to CARSOME is Safer Than Selling it Privately Insights Jim Kem | November 26, 2024 Selling your car privately can seem appealing, often promising higher returns compared to trade-ins. However, this route comes with its fair share of ... CARSOME Achieves Full-Year Profitability in 2024 with Robust Margins; Reports USD 10.5 Million EBITDA Auto News Jim Kem | March 21, 2025 CARSOME Group Inc (CARSOME), Southeast Asia’s largest integrated car e-commerce platform, has reported an adjusted EBITDA of USD10.5 million for the ... JPJ registered RM28 million in revenue on MyJPJ App, new version coming in end 2025 Auto News Nur Ramieza Abdul Wahid | August 26, 2024 RM28 million revenue has recorded last month through MyJPJ applications, according to the Road Transport Department (JPJ). This prior to the ... Mileage Tampering: What Is It And How You Can Avoid It When Buying A Used Car? Buying Guides Jim Kem | April 02, 2024 In the realm of prospective vehicle ownership, especially when looking in the used market, the issue of mileage tampering remains a significant ... Comments
CARSOME Delivers Record 2Q2024 Results and Announces RM200mil New Financing Partnerships to Drive Further Profitable Growth Auto News Jim Kem | September 12, 2024 01:01 pm CARSOME Group Inc., Southeast Asia’s largest car e-commerce platform, announced its most successful quarter yet in 2Q2024. The company traded around 35,000 vehicles and achieved a 9% quarter-on-quarter (QoQ) revenue growth, surpassing USD310 million (about RM1.3 billion). Despite the tough macroeconomic environment, CARSOME maintained a gross margin above 10%, with EBITDA growing over three times compared to the previous quarter. This milestone continues the profitable growth streak that began in December 2023. To further bolster its expansion, CARSOME has formed new financing partnerships with Ambank Group and Maybank, securing over RM200 million in additional working capital. These partnerships will help fuel the company’s growth in financing, insurance, aftersales, and otherrelated services, enhancing its ability to offer a one-stop solution for dealers and customers. Eric Cheng, CARSOME’s Co-founder, Chairman, and Group CEO, attributed the strong performance to the company’s effective strategies and brand strength, saying: "This quarter’s results are a continuation of our profitable growth strategy. Our GPU (Gross Profit per Unit) is up by more than 5% QoQ, even as customer acquisition costs continue to come down significantly, which is a testament to our strong execution, our value proposition, and our brand equity. We will continue on this path and remain on track to deliver a record year.” “I am honored by the support from our banking partners, and I am very excited about CARSOME Capital and the opportunities to expand our ancillary offerings. We have established a strong operational track record empowered by a robust in-house origination and underwriting capability, with NPL below 2% for retail and 0.1% for wholesale. With the additional financing support and our demonstrated capabilities, we are well-positioned to leverage our scale to expand this business further. This will allow us to better serve current and new customers throughout their vehicle ownership journey, keeping CARSOME top-of-mind," he said. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags Carsome Used Cars Malaysia Carlist Group Capital Profit Revenue Q2 2024
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Why Selling Your Car to CARSOME is Safer Than Selling it Privately Insights Jim Kem | November 26, 2024 Selling your car privately can seem appealing, often promising higher returns compared to trade-ins. However, this route comes with its fair share of ...
CARSOME Achieves Full-Year Profitability in 2024 with Robust Margins; Reports USD 10.5 Million EBITDA Auto News Jim Kem | March 21, 2025 CARSOME Group Inc (CARSOME), Southeast Asia’s largest integrated car e-commerce platform, has reported an adjusted EBITDA of USD10.5 million for the ...
JPJ registered RM28 million in revenue on MyJPJ App, new version coming in end 2025 Auto News Nur Ramieza Abdul Wahid | August 26, 2024 RM28 million revenue has recorded last month through MyJPJ applications, according to the Road Transport Department (JPJ). This prior to the ...
Mileage Tampering: What Is It And How You Can Avoid It When Buying A Used Car? Buying Guides Jim Kem | April 02, 2024 In the realm of prospective vehicle ownership, especially when looking in the used market, the issue of mileage tampering remains a significant ...