CAR Group Limited
TypeASX 100 listed
  • ASX: CAR
  • S&P/ASX 100 component
IndustryMedia, Internet, Online Classifieds and E-Commerce
Founded1997
FoundersGreg Roebuck and Wal Pisciotta
Headquarters
Cremorne, Victoria Australia
Area served
Australia, New Zealand, Chile, Brazil, South Korea, the US, Canada, China, Malaysia, Thailand
Key people
Cameron McIntyre (CEO)
Number of employees
1800
Websitehttps://www.cargroup.com

CAR Group Limited (formerly carsales.com Limited) is a digital marketplace business listed on the ASX 100. It operates primarily in Oceania, Asia and The Americas.

Since its establishment in the 1990s, 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. CAR Group's strategy aims to develop leading digital marketplaces for vehicle transactions globally.[1]

CAR Group was recognised by Forbes as one of the most innovative growth companies in 2017.[2]

History

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.

In 2009, carsales listed on the Australian Stock Exchange (ASX) and became known as carsales.com Limited[3]

In March 2017, Greg Roebuck stood down from his role as CEO and was replaced by the then COO, Cameron McIntyre.[4]

In 2023 carsales.com Limited was renamed to CAR Group Limited.[5]

This change clearly delineates the listed parent company from its marketplace brands around the globe (carsales in Australia, Encar in South Korea, Trader Interactive in the USA, Chileautos in Chile and webmotors in Brazil).

Acquisitions

  • 2005 acquisition of online classified business PBL Media websites owned ACP Magazines Limited (Carpoint.com.au, Boatpoint.com.au, Bikepoint.com.au and Ihub.com.au) along with research and statistic company Equipment Research Group Pty Ltd (ERG). In return ACP would take up a 41 per cent stake in carsales.
  • 2007 acquisition of RedBook Australia and Asia
  • 2010 acquisition of Quicksales
  • 2013 acquisition of 30% stake in webmotors (Brazil)
  • 2014 acquisition of 49.9% stake in SK Encar (Korea)
  • 2016 acquisition of soloautos (Mexico)[6] and chileautos (Chile)[7]
  • 2017 acquisition of remaining 50.1% of SK Encar for $244 million (after previously having purchased 49.9% for $126 million in April 2014)[8]
  • 2021 acquisition of 49% stake in non-auto marketplace group Trader Interactive (US) [9]
  • 2022 acquisition of remaining 51% stake in Trader Interactive (US)[10]
  • 2023 acquisition of a further 40% stake in Webmotors, Brazil[11]

Accreditation

  • Top 100 globally for gender equality by EQUILEAP[12]
  • 2023 AFR Best Places To Work[13]
  • Since 2018 Great Place to Work certified [14] and named on the Australia's Best Workplaces™ 2023 List[15] (carsales, Australia)
  • Since 2015 Workplace Gender Equality Agency (WGEA) Employer of Choice and certified Breastfeeding Friendly Workplace [16] (carsales, Australia)
  • Since 2019 Australian Association of Graduate Employers (AAGE) Top Graduate Employer [17] (carsales, Australia)
  • Family Inclusive Workplace [18] (carsales, Australia)
  • Named on the 2022 and 2023 AAGE Top Intern Programs list (carsales, Australia) [19]
  • Certified carbon neutral for Australian business operations under the Australian Government’s carbon-neutral certification program Climate Active[20] (carsales, Australia)
  • Since 2016 Great Place to Work certified (Webmotors, Brazil)[21]
  • 2023 Empresa Top 10 (chileautos, Chile) [22]
  • Best Family Friendly Management (Encar, South Korea)[23]

References

  1. ↑ "Home". CAR Group Investor. Retrieved 15 November 2023.
  2. ↑ "Most Innovative Growth Companies #12". Forbes.
  3. ↑ "Carsales float revved up for first trading day". The Australian.
  4. ↑ , "Carsales co-founder and CEO Greg Roebuck resigns, replaced by COO"
  5. ↑ CAR Group, Press Release (1 November 2023). "Change of company name and amended constitution".
  6. ↑ "Carsales completes Mexican acquisition". The Sydney Morning Herald. 5 October 2015. Retrieved 25 July 2018.
  7. ↑ "Carsales pays $20m to take Chileautos majority stake". Financial Review. 29 March 2016. Retrieved 25 July 2018.
  8. ↑ Duke, Jennifer (21 November 2017). "Carsales spends $244 million to become full owner of South Korea's SKEncar". The Sydney Morning Herald. Retrieved 25 July 2018.
  9. ↑ "Carsales targets RVs, snowmobiles and trucks in $800m US deal". Australian Financial Review. 12 May 2021.
  10. ↑ "Carsales pounces on fast-growing US RV and truck trader". Australian Financial Review. 27 June 2022.
  11. ↑ CAR Group, Press release (29 April 2023). "carsales completes acquisition of further 40% of webmotors".
  12. ↑ Equileap (2023). "Gender Equality Global Report and Ranking" (PDF).
  13. ↑ "Tech companies embrace new ways of working after pandemic fatigue". Australian Financial Review. 20 April 2023. Retrieved 15 November 2023.
  14. ↑ greatplacetowork.com.au https://greatplacetowork.com.au/gptwcertified/carsales-com-ltd/. {{cite web}}: Missing or empty |title= (help)
  15. ↑ "Australia Best Workplaces™ 2023 Medium Companies". Great Place To Work Australia. Retrieved 15 November 2023.
  16. ↑ "WGEA Employer of Choice for Gender Equality citation holders | WGEA". www.wgea.gov.au.
  17. ↑ "carsales.com - Top 75 Graduate Employers". topgraduateemployers.
  18. ↑ "carsales: Fostering a culture of inclusivity for all". Family Friendly Workplaces.
  19. ↑ "2023 Top Intern Programs". topinternprograms.
  20. ↑ "Climate Active".
  21. ↑ "Certificadas Great Place to Work (Brasil)". certificadas.gptw.com.br. Retrieved 15 November 2023.
  22. ↑ "Annual Report FY23". CAR Group Investor. Retrieved 15 November 2023.
  23. ↑ "Annual Report FY23". CAR Group Investor. Retrieved 15 November 2023.
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