Australia's CAR Group gains as Citi sees growth levers offsetting Brazil slowdown

CAR

07/10/2026 05:45

** Shares of CAR Group CAR.AX rise as much as 1.3% to A$22.43 before trimming gains to 0.7% in late Sydney trade
** Citi keeps online auto marketplace operator at "buy" with PT of A$33 as pricing, add-ons and market share gains offset softer Brazil sales
** Says Brazil used-vehicle sales are flat YoY in the first quarter of 2027, with August and September each down 1%
** Brokerage assumes 15% YoY Brazil growth in the first half of 2027, broadly in line with the 2H26
** Citi says "slowing vehicle sales represent a headwind", but sees media revenue, market share, among others supporting growth
** Stock down 27.5% YTD

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))