Heaptalk, Jakarta — Carsome Group announced has recorded a positive EBITDA in Q1 2024 and a significant improvement in its Gross Profit Per Unit (GPU), which marked profitability in the level of every single transaction. The GPU has notably increased by 48% YoY, primarily fueled by vehicle transactions, and Carsome’s AI-driven Pricing Engine, which utilizes big data for price prediction.
Apart from a robust increase in its GPU, the integration of data analytics, digitalization, and automation across the ecosystem, including ancillary services like financing, insurance, and aftersales through Carsome Capital and Carsome Aftersales become substantial factors which drive profitability.
The adoption of this technology enhances the effectiveness of core operations and services, contributing to the GPU and leading to a marked ancillary income per unit by over 80% in 2023.
Since its inception in 2025, this car e-commerce platform has also marked another achievement in its trajectory, surpassing the sale of 50,000 cars. Carsome achieved this milestone only two years after crossing 10,000 cars in 2021. The Group also traded over 150,000 cars last year.
Alongside these financial gains, Carsome has accomplished significant operational efficiency, reducing Customer Acquisition Costs (CAC) by 37%. This reduction was driven by leveraging its substantial brand equity and integrating Carsome’s comprehensive ecosystem services, which streamlined the customer journey and enhanced cost efficiency across the region.
The Group financing and insurance arm, Carsome Capital, noted over an 80% increase in last year’s revenue, resulting in a 3x Profit Before tax (PBT) YoY increase. Carsome claimed that its financing and insurance arm was one of the company’s first entities to reach PBT profitability, and 2023 marked its second consecutive year of net profitability.
The company explained that PBT’s growth was mainly contributed by its quality origination capability, developed the Group’s transactional platforms, and robust in-house underwriting capability, driven by more than 50,000 managed transactions and collective data insights from Carsome’s various listing and media platforms.
Its retail unit, Carsome Certified, has seen its customer satisfaction improve from an industry-high 77 Net Promoter Score (NPS) to 83 points, while its wholesale business achieved an NPS of 76 points. AddiGroup’sy, the group’s monthly active digital users have grown to over 18 million compared to the former 15 million in 2022. Its content and media ecosystem, including brands under iCar Asia and Wapcar, contributed to the improvement.
“While we are on track tGroup’sve the Group’s first full-year profitability this year, we are also continuing our long-term vision of driving profitability growth and extending our leadership in the region and the industry. Our commitment is to lead and innovate within the automotive sector, creating opportunities that anticipate and fulfill the evolving needs of our customers across SEA,” Carsome’s Co-Founder, Chairman, and Group Chief Executive Officer, Eric Cheng, said.
