Carsome turns Ebitda positive in 1Q24 on business scale

CEO Cheng said Carsome will expand its services across the industry value-chain.

PETALING JAYA: Online used car platform Carsome Group Inc, which reported its first quarterly earnings before interest, taxes, depreciation and amortisation (Ebitda) positive result for the first quarter of financial year 2024, is poised for sustained growth, capitalising on the scale of its business in the region.

In a statement yesterday, the company said its gross profit per unit (GPU), which marks profitability on a per-transaction level, had increased 48% year-on-year (y-o-y), driven by vehicle transactions, and its artificial intelligence-driven pricing engine, which uses big data for precise price prediction.