Citi expects CAR Group's North America business to slow down in second half of FY25

CAR

06/03/2025 19:56

** Analysts at Citi expect Australia-based CAR Group's CAR.AX digital marketplace business Trader Interactive to slow down by 8% in the second half of fiscal 2025

** Trader Interactive is a digital marketplace that connects buyers and sellers in North America

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

** Citi warns risk in Trader Interactive's recovery 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

** Eight of 14 analysts rate the stock "buy" or higher, five "hold" and one "sell" or lower; with a median PT of A$40.68, according to data compiled by LSEG

** Stock up 1.8% this year, as of last close

($1 = 1.5798 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))