CAR Group falls; Citi expects co's North America business to slow down

CAR

07/03/2025 24:53

Updates with share moves

** Shares of Australia-based CAR Group CAR.AX fall nearly 4% to A$35.220, their lowest level since August 13, 2024

** Analysts at Citi expect CAR's digital marketplace business, Trader Interactive, to slow down by 8% in the second half of fiscal 2025

** Trader Interactive connects buyers and sellers in North America

** CAR, which works as an online marketplace for automobiles around the world, reported HY adjusted net profit of A$177.3 million ($112.23 million) in early February, 3% below Visible Alpha consensus

** Citi warns recovery in Trader Interactive to be further delayed

** "We see RV retail sales over next few months and TI's price increase in June quarter as next catalysts" - Citi

** Stock down 2.2% this year, as of 0045 GMT

($1 = 1.5798 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))