Carro, Asia Pacific's largest and fastest-growing online automotive platform, has announced a record financial performance for the fiscal year 2025 (FY2025), posting revenues of S$1.2 billion (approximately US$898 million). This achievement represents a strong 15% growth compared to the previous year, underscoring Carro's robust market expansion and operational success.
Carro's revenue growth was complemented by a best-ever gross profit of S$149 million (around US$111 million), marking a 20% year-on-year increase. The company's gross profit margin (GPM) improved to 12.4% in FY2025, up from 11.8% in FY2024. This margin expansion was driven primarily by ancillary services, which now account for over 55% of Carro's gross profit, showcasing the company's successful shift towards ecosystem-led income sources.
Additionally, Carro reported an EBITDA of S$43 million (US$32 million), reflecting strong earnings before interest, taxes, depreciation, and amortization. The company's total assets stood at S$1.3 billion, illustrating its significant scale and financial health.
Carro's financial performance in FY2025 highlights its effective marketplace margin expansion strategy and continuous productivity optimization. Over the past year, the company extended its operational footprint beyond Southeast Asia, scaling up in markets including Hong Kong, the Special Administrative Region (SAR) of China, and Japan. These expansions reinforce Carro's ambition to become a leader across the broader Asia Pacific automotive and mobility ecosystem.
The company continues to leverage its innovative technology and comprehensive online platform to facilitate vehicle transactions, financing, insurance, and after-sales services. Its focus on ancillary revenue streams also positions it well for sustained long-term profitability.
Carro's record-breaking fiscal results reflect its leadership in the digital transformation within the automotive sector. The combination of marketplace growth, ecosystem development, and operational efficiency creates a robust foundation for future expansion in an increasingly competitive environment.
Looking ahead, Carro is poised to capitalize further on emerging opportunities in vehicle retail, financing, and digital services across Asia. With its proven business model and strong financial footing, Carro aims to sustain momentum and drive innovation that benefits customers, partners, and stakeholders alike.