CAR Group
Formerly | Carsales |
---|---|
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 innovative technology and advertising solutions 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.
History
Carsales was founded by Greg Roebuck and Wal Pisciotta in
In October 2005,
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
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]
References
- ^ Carsales.com promotes Cameron McIntyre to CEO as founder Greg Roebuck retires Mumbrella 20 January 2017
- Publishing & Broadcasting Limited3 October 2005
- ^ Carsales.com.au Publishing & Broadcasting Limited 31 October 2005
- Australian Competition & Consumer Commission13 August 2009
- ^ "Carsales float revved up for first trading day". The Australian.
- ^ Nine unloads Carsales.com Australian Financial Review 6 March 2011
- ^ ASX statement Carsales 14 March 2013
- ^ Carsales to acquire 30 per cent of WebMotors Carsales 30 April 2013
- ^ Carsales completes acquisition of further 40% of WebMotors Carsales 29 April 2023
- ^ Carsales to acquire 49% of South Korea's number one online car classifieds website Carsales 6 March 2014
- Sydney Morning Herald11 November 2017
- Sydney Morning Herald5 October 2015
- ^ Carsales pays $20m to take Chileautos majority stake Australian Financial Review 29 March 2016
- ^ Carsales targets RVs, snowmobiles and trucks in $800m US deal Australian Financial Review 12 May 2021
- ^ Carsales pounces on fast-growing US RV and truck trader Australian Financial Review 27 June 2022
- ^ Change of company name and amended constitution Carsales 1 November 2023