Carsome Group Inc, Southeast Asia’s largest integrated car e-commerce platform starts 2025 strong, posting earnings before interest, taxes, depreciation, and amortization (EBITDA) of $4.3 million in the first quarter, and continuing the positive momentum from its profitable close to FY2024.

The firm said in a statement on Thursday that in the first quarter, the group’s gross profit rose 12 percent year-on-year while its gross profit per unit (GPU) improved 24 percent from 2024 on the back of a resilient topline performance.

During the quarter, both wholesale and retail segments delivered record margin performance, driven by improved pricing algorithms, optimized sourcing strategies, and stronger unit economics.

The group remains focused on driving profitable growth across its core markets while strengthening its integrated automotive ecosystem.

“Carsome is off to a strong start in 2025, building on the solid foundation of our proven profitability in FY2024,

“As we continue to refine our execution and unlock even greater operating leverage through our integrated model, our business fundamentals remain strong and resilient,” said Eric Cheng, Co-founder and Group Chief Executive Officer of Carsome.

He said the firm is on track to surpass its goals, including becoming operational cash flow positive this year.

“We are confident in the growth potential of our core markets, and we are excited about the momentum we are gaining,

“Recent strategic partnerships are already playing a pivotal role in driving topline growth and accelerating our path toward further success,” he added.

Carsome said the firm continues to forge partnerships that strengthen its ecosystem, broaden access to financing, enhance services, and contribute to the community.

These include its partnership with JACCS to scale financing for underserved customers via Carsome Capital, collaboration with Petronas AutoExpert to improve aftersales support, and
alliance with the Football Association of Malaysia (FAM) to champion national pride.

In April, Carsome also supported the Selangor state government and Ministry of Transport in aiding families affected by the gas pipeline fire in Putra Heights.

These efforts underscore the Group’s ongoing commitment to making a meaningful impact, one that will continue to shape its direction in 2025.

Based in Malaysia, Carsome is Southeast Asia’s largest integrated car e-commerce platform.

With operations across Malaysia, Indonesia, Thailand, and Singapore, the firm aims to digitize the region’s used car industry by reshaping and elevating the car transaction and
ownership experience.

Together with subsidiary brands iCar Asia, WapCar, and CarTimes, and CARSOME Capital, Carsome provides end-to-end solutions to consumers and used car dealers across the decision funnel, from car content consumption, car inspection, and ownership transfer to financing and other ancillary services, promising to bring trust, transparency, and choice to its customers.

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