• On 11 February Car Group (formerly Carsales.com) reported solid Half Year 2024 financial results.
  • The stock price fell slightly on the release, only to rally, reaching an all-time high on 29 February.
  • The stock price is up 873% since its 2009 listing on the ASX.

Car Group was a fintech (financial technology) disruptor before the term became part of the investment world’s lexicon. Founded in 1997 when the internet was in its infancy, the company brought automotive sellers and buyers out of the print media into the digital age.

Today the company operates multiple adjunct businesses on multiple websites around the world. The company’s financial performance survived COVID and took a big leap between FY 2022 and FY 2023 as the world fretted from high inflation and interest rates, recession fears, and war.

Car Group Financial Performance

Car Group Financial Performance 2023

Source: ASX

Half Year 2024 results continued the trend, with a 60% increase in revenues and a 34% increase in net profit. The stock price hit all-time highs at the end of calendar year 2023 and again in 2024. Over five years the share price is up 187%.


Top Australian Brokers


car group limited stock price chart overview 2024

Source: ASX

The company has a five-year average dividend yield of 2.37%, paying a dividend of $0.61 per share in FY 2023.

An analyst at Alto Capital has a SELL recommendation on CAR Group shares, citing the company’s strong Half Year 2024 results and stock price performance suggesting investors “may want to consider taking a profit by selling into strength.

Marketscreener.com has an analyst consensus  of OUTPERORM recommendation on Car Group shares, with four of the fifteen analysts reporting at BUY, three at OUTPERFORM, five at HOLD, and three at UNDERPERFORM.

The Wall Street Journal has an analyst consensus HOLD recommendation on Car Group shares, with six of the seventeen analysts reporting at BUY, six at HOLD, four at UNDERWEIGHT, and one at SELL.

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