CARSOME Group Inc (CARSOME), Southeast Asia’s largest integrated car e-commerce platform, has reported an adjusted EBITDA of USD10.5 million for the 2024 financial year, marking a significant milestone as the company sustains its profitability, which it first achieved in December 2023.
The year 2024 was transformative for CARSOME, as it maintained a steady revenue stream while securing profitability with a 25% year-on-year increase in Gross Profit per Unit (GPU) driven by improved unit economics, stronger metal margins, enhanced monetisation of platform services, and rising ancillary revenue. Additionally, lower refurbishment and logistics costs contributed to this growth.
CARSOME has also strengthened its financial partnerships. After collaborating with AmBank Group in 2024, the company is now teaming up with Japan Consumer Credit Service Co., Ltd. (JACCS) to expand financing solutions for both retail consumers and dealers in a move that aims to unlock new business opportunities and provide better access to financial services.
CARSOME’s Co-founder and Group Chief Executive Officer, Eric Cheng, said, “Achieving full-year profitability is a major milestone as we enter our 10th year, proving the strength of our business model and our ability to create long-term shareholder value,”
“We are excited to continue this momentum into 2025. With stronger profitability, we will further invest in our ecosystem and collaborate with financial partners to make vehicle ownership more accessible for everyone,” he added.
