Latest news with #Carsome
The Sun
2 days ago
- Automotive
- The Sun
Carsome off to strong start with US$4.3 million Ebitda in Q1
PETALING JAYA: Carsome Group Inc, Southeast Asia's largest integrated car e-commerce platform, registered a strong start to 2025, posting earnings before interest, taxes, depreciation and amortisation of US$4.3 million (RM18.1 million) in the first quarter, continuing the positive momentum from its profitable close to FY24. In Q1'25, the group's gross profit rose 12% year-on-year, while its gross profit per unit (GPU) improved 24% from 2024, driven by a resilient topline performance. During the quarter, both wholesale and retail segments delivered record margin performance, driven by improved pricing algorithms, optimised 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 co-founder and group CEO Eric Cheng said, 'Carsome is off to a strong start in 2025, building on the solid foundation of our proven profitability in FY24. As we continue to refine our execution and unlock even greater operating leverage through our integrated model, our business fundamentals remain strong and resilient. 'We are on track to surpass our 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/' Caresome continues to forge partnerships that strengthen its ecosystem, broaden access to financing, enhance services and contribute to the community. These include its partnership with Japan Consumer Credit Service a member of Mitsubishi UFJ Financial Group, to scale financing for underserved customers through Carsome Capital. Furthermore, Carsome has established collaborations with Petronas AutoExpert to enhance after-sales support and an alliance with the Football Association of Malaysia to champion national pride. In April, Carsome supported the Selangor state government and the 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.
Yahoo
05-04-2025
- Automotive
- Yahoo
Vincent Tan, Carsome step up with cash, free cars as aid for Putra Heights fire victims grows
SUBANG JAYA, April 5 — Transport Minister Anthony Loke today announced that 400 families affected by the Putra Heights gas pipeline fire have each received RM3,000 — 300 from Berjaya Group founder Tan Sri Vincent Tan and 100 from real estate company Matrix Concepts Holdings. He added that car e-commerce company Carsome is providing victims with 50 vehicles for free use for a month, with 20 delivered today and another 30 set to be delivered next week. 'I would like to express my gratitude to several corporate companies that have come forward to provide assistance to the victims of the fire in Putra Heights,' he told reporters when met at an aid handover ceremony here today. 'Many corporate companies have stepped forward to provide aid, demonstrating the strong spirit of cooperation among Malaysians.' He added that 63 new motorcycles would be sponsored to replace those destroyed in the incident, with handover and registration set for next Monday. 'This shows that there is substantial support from private companies, complementing the assistance provided by the government,' he said. He further reassured victims that the government would assist in rebuilding homes deemed 'total losses', and that further announcements will be made on the matter. 'While the process will take some time, our immediate priority is to alleviate their burden, which is why corporate aid is being expedited directly to the victims,' Loke said. The gas pipeline fire in Putra Heights broke out on the morning of April 1, sending flames over 30 metres into the air and reaching temperatures of 1,000 degrees Celsius. It took emergency responders nearly eight hours to fully extinguish the blaze, which left 87 homes completely destroyed and damaged 148 others.
