→Accreditation: delete overly promotional section
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{{Infobox company |
{{Infobox company |
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|name = CAR Group Limited |
|name = CAR Group Limited |
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|former_name = |
|former_name = carsales.com ltd |
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|logo = Logo of cargroup.png |
|logo = Logo of cargroup.png |
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|type = [[Public company]] |
|type = [[Public company]] |
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'''CAR Group Limited''', formerly '''Carsales''' is a digital marketplace company. It operates primarily in [[Oceania]], [[Asia]] and [[Americas|The Americas]]. It is listed on the [[Australian Securities Exchange]]. |
'''CAR Group Limited''', formerly '''Carsales''' is a digital marketplace company. It operates primarily in [[Oceania]], [[Asia]] and [[Americas|The Americas]]. It is listed on the [[Australian Securities Exchange]]. |
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Since its establishment in 1997, CAR Group has expanded its digital presence, focusing on |
Since its establishment in 1997, CAR Group has expanded its digital presence, focusing on technology and advertising in the automotive sales sector. |
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CAR Group has wholly owned digital marketplace businesses in Australia (Carsales), South Korea (Encar), the United States (Trader Interactive) and Chile (chileautos) in addition to being a majority shareholder of WebMotors in Brazil. |
CAR Group has wholly owned digital marketplace businesses in Australia (Carsales), South Korea (Encar), the United States (Trader Interactive) and Chile (chileautos) in addition to being a majority shareholder of WebMotors in Brazil. |
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In March 2013, a 20% stake in ICar Asia was purchased followed the next month by a 30% shareholding in WebMotors of Brazil from [[Banco Santander]].<ref>[https://announcements.asx.com.au/asxpdf/20130314/pdf/42dnv7d5p5bwpj.pdf ASX statement] Carsales 14 March 2013</ref><ref>[https://announcements.asx.com.au/asxpdf/20130417/pdf/42f99bx7179r6d.pdf Carsales to acquire 30 per cent of WebMotors] Carsales 30 April 2013</ref> In April 2023, it acquired a further 40% stake.<ref>[https://web.archive.org/web/20231115062007/https://app.sharelinktechnologies.com/announcement/asx/b7da48d2f58a7866ceb8ed7812346af6 Carsales completes acquisition of further 40% of WebMotors] Carsales 29 April 2023</ref> |
In March 2013, a 20% stake in ICar Asia was purchased followed the next month by a 30% shareholding in WebMotors of Brazil from [[Banco Santander]].<ref>[https://announcements.asx.com.au/asxpdf/20130314/pdf/42dnv7d5p5bwpj.pdf ASX statement] Carsales 14 March 2013</ref><ref>[https://announcements.asx.com.au/asxpdf/20130417/pdf/42f99bx7179r6d.pdf Carsales to acquire 30 per cent of WebMotors] Carsales 30 April 2013</ref> In April 2023, it acquired a further 40% stake.<ref>[https://web.archive.org/web/20231115062007/https://app.sharelinktechnologies.com/announcement/asx/b7da48d2f58a7866ceb8ed7812346af6 Carsales completes acquisition of further 40% of WebMotors] Carsales 29 April 2023</ref> |
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In March 2014, a 49% share of SK Encar, Korea was purchased from [[SK C&C]].<ref>[https://announcements.asx.com.au/asxpdf/20140306/pdf/42n6rm5yscks94.pdf Carsales to acquire 49% of South Korea's number one online car classifieds website] Carsales 6 March 2014</ref> It purchased the other 51% in 2016.<ref>[https://www.smh.com.au/business/companies/carsales-spends-244-million-to-become-full-owner-of-south-koreas-skencar-20171120-gzopfo.html Carsales spends $244 million to become full owner of South Korea's SKEncar] ''[[Sydney Morning Herald]]'' 11 November 2017</ref> In 2016 Soloautos of Mexico |
In March 2014, a 49% share of SK Encar, Korea was purchased from [[SK C&C]].<ref>[https://announcements.asx.com.au/asxpdf/20140306/pdf/42n6rm5yscks94.pdf Carsales to acquire 49% of South Korea's number one online car classifieds website] Carsales 6 March 2014</ref> It purchased the other 51% in 2016.<ref>[https://www.smh.com.au/business/companies/carsales-spends-244-million-to-become-full-owner-of-south-koreas-skencar-20171120-gzopfo.html Carsales spends $244 million to become full owner of South Korea's SKEncar] ''[[Sydney Morning Herald]]'' 11 November 2017</ref> In 2016 Soloautos of Mexico and Chileautos of Chile were purchased.<ref>[https://www.smh.com.au/business/carsales-completes-mexican-acquisition-20151005-gk17iw.html Carsales completes Mexican acquisition] ''[[Sydney Morning Herald]]'' 5 October 2015</ref><ref>[https://web.archive.org/web/20170222032441/https://www.afr.com/business/media-and-marketing/carsales-pays-20m-to-buy-an-83pc-in-chileautos-20160328-gnsq1k.html Carsales pays $20m to take Chileautos majority stake] ''Australian Financial Review'' 29 March 2016</ref> |
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In 2021 a 49% stake in non-auto marketplace group Trader Interactive, United States was purchased.<ref>[https://web.archive.org/web/20210512030810/https://www.afr.com/companies/media-and-marketing/carsales-raising-600m-for-us-online-listings-deal-20210512-p57r43 Carsales targets RVs, snowmobiles and trucks in $800m US deal] ''Australian Financial Review'' 12 May 2021</ref> In 2022 it acquired the remaining 51% stake.<ref>[https://web.archive.org/web/20221202002734/https://www.afr.com/companies/media-and-marketing/carsales-mops-up-us-rv-and-truck-trader-for-1-2b-20220627-p5awvt Carsales pounces on fast-growing US RV and truck trader] ''Australian Financial Review'' 27 June 2022</ref> In 2023 Carsales was renamed to CAR Group.<ref>[https://web.archive.org/web/20231115062008/https://app.sharelinktechnologies.com/announcement/asx/5c0ceeef393fd5e0dfddeb684bcb4d36 Change of company name and amended constitution] Carsales 1 November 2023</ref> |
In 2021 a 49% stake in non-auto marketplace group Trader Interactive, United States was purchased.<ref>[https://web.archive.org/web/20210512030810/https://www.afr.com/companies/media-and-marketing/carsales-raising-600m-for-us-online-listings-deal-20210512-p57r43 Carsales targets RVs, snowmobiles and trucks in $800m US deal] ''Australian Financial Review'' 12 May 2021</ref> In 2022 it acquired the remaining 51% stake.<ref>[https://web.archive.org/web/20221202002734/https://www.afr.com/companies/media-and-marketing/carsales-mops-up-us-rv-and-truck-trader-for-1-2b-20220627-p5awvt Carsales pounces on fast-growing US RV and truck trader] ''Australian Financial Review'' 27 June 2022</ref> In 2023 Carsales was renamed to CAR Group.<ref>[https://web.archive.org/web/20231115062008/https://app.sharelinktechnologies.com/announcement/asx/5c0ceeef393fd5e0dfddeb684bcb4d36 Change of company name and amended constitution] Carsales 1 November 2023</ref> |
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==References== |
==References== |
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{{Reflist}} |
{{Reflist}} |
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==External links== |
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*[https://www.cargroup.com Official website] |
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{{Nine Entertainment}} |
{{Nine Entertainment}} |
![]() | |
Formerly | carsales.com ltd |
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Company type | Public company |
ASX: CAR | |
Industry | Media, Internet, Online Classifieds and E-Commerce |
Founded | 1997 |
Founders | Greg Roebuck Wal Pisciotta |
Headquarters | Cremorne, Victoria, Australia |
Area served | Australia Brazil Canada Chile China Malaysia New Zealand South Korea Thailand United States |
Key people | Cameron McIntyre (CEO) |
Revenue | $781 million (2023) |
$278 million (2023) | |
Number of employees | 1,800 |
Subsidiaries | Carsales SK Encar Trader Interactive WebMotors (70%) |
Website | www.cargroup.com |
CAR Group Limited, formerly Carsales is a digital marketplace company. It operates primarily in Oceania, Asia and The Americas. It is listed on the Australian Securities Exchange.
Since its establishment in 1997, CAR Group has expanded its digital presence, focusing on technology and advertising in the automotive sales sector.
CAR Group has wholly owned digital marketplace businesses in Australia (Carsales), South Korea (Encar), the United States (Trader Interactive) and Chile (chileautos) in addition to being a majority shareholder of WebMotors in Brazil.
Carsales was founded by Greg Roebuck and Wal Pisciotta in Melbourne, Australia in 1997 with what was at the time just a small idea of moving print classified advertisements for motor vehicles onto the internet.[1]
In October 2005, ACP Magazines' online classified businesses; Carpoint.com.au, Boatpoint.com.au, Bikepoint.com.au, Ihub.com.au and statistic company Equipment Research Group were acquired. In return ACP's parent, Publishing & Broadcasting Limited, took a 41% stake in Carsales.[2][3] In August 2007 Red Book was purchased.[4]
In 2009, Carsales was listed on the Australian Securities Exchange.[5] In 2010, Quicksales was purchased. In March 2011, Nine Entertainment, as Publishing & Broadcasting Limited had become, sold its 49% shareholding in Carsales.[6]
In March 2013, a 20% stake in ICar Asia was purchased followed the next month by a 30% shareholding in WebMotors of Brazil from Banco Santander.[7][8] In April 2023, it acquired a further 40% stake.[9]
In March 2014, a 49% share of SK Encar, Korea was purchased from SK C&C.[10] It purchased the other 51% in 2016.[11] In 2016 Soloautos of Mexico and Chileautos of Chile were purchased.[12][13]
In 2021 a 49% stake in non-auto marketplace group Trader Interactive, United States was purchased.[14] In 2022 it acquired the remaining 51% stake.[15] In 2023 Carsales was renamed to CAR Group.[16]
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