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| Formerly | carsales.com ltd |
|---|---|
| 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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| Broadcast |
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| Digital & print |
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