Carsome posts tenth profitable quarter as SEA’s used-car race matures
For years, Southeast Asia’s online used-car platforms were judged mainly by how fast they could expand: more inspection centres, more listings, more buyers, more cities. Carsome’s latest numbers suggest the sector has entered a different phase, one where scale still matters, but profitability is becoming the sharper test. The Malaysia-headquartered used-car e-commerce group reported record […]…
Southeast Asia's used-car e-commerce platforms have shifted from focusing on rapid expansion to prioritizing profitability, as evidenced by Carsome's latest financial results. The Malaysia-based company reported a record EBITDA of US$8.3 million for the second quarter of 2026, a 38 percent increase from the previous year. This marks the tenth consecutive profitable quarter for Carsome, demonstrating the company's ability to achieve operating leverage as it scales its operations.
Carsome sold 35,903 vehicles in the quarter, a 11 percent increase year-on-year. Gross profit rose by 15 percent to about US$43.8 million, driven by a higher share of retail transactions, financing services, warranties, and related services. These services typically create stronger unit economics compared to wholesale used-car transactions that drive scale.
Co-founder and Group CEO Eric Cheng attributed the company's success to its ability to generate faster growth in each area than the previous one, highlighting the benefits of operating leverage. Carsome's tenth consecutive EBITDA-positive quarter indicates that the company has found a more sustainable balance between growth and cost control in the used-car market, where high operating costs and thin margins are common challenges for digital automotive players.
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