The company’s gross profit margin for the full year increased to 9%, underpinned by strong ancillary income growth which represents close to 60% of Carro’s gross profit in the final quarter.
Singapore-based Carro has reported recorded ebitda in its FY2023 ended March at US$4 million ($5.41 million), the used car platform’s highest-ever full-year positive ebitda.
Revenue for the full year exceeded US$800 million on the back of a US$1.5 billion gross merchandise value (GMV). Carro sold and financed over 120,000 vehicles across Indonesia, Thailand, Malaysia and Singapore.
