CARSOME Records Strongest Quarterly Profitability Yet, Signalling a New Growth Phase in Southeast Asia

The Southeast Asian automotive industry continues to evolve rapidly, and one company that is clearly gaining momentum is CARSOME. The region’s largest integrated car e-commerce platform has reported its strongest quarterly gross profit per unit (GPU) since the company was founded, highlighting the effectiveness of its long-term strategy focused on profitability, operational efficiency, and sustainable growth.

For the first quarter of 2026, CARSOME delivered a series of impressive financial milestones that demonstrate how the company is strengthening its position in the used-car ecosystem across Southeast Asia.

Record GPU and Profitability Growth

According to the company’s latest financial results, total gross profit increased by 25% year-on-year to RM158 million, while Gross Profit per Unit (GPU) surged 30% to approximately RM5,300 per vehicle, the highest quarterly GPU ever recorded by the company.

Even more notable was CARSOME’s EBITDA performance, which climbed 85% year-on-year to RM29 million, reflecting stronger operating leverage and a more profitable business model.

The achievement marks the fifth consecutive quarter of year-on-year GPU growth, indicating that the company is not only selling vehicles more efficiently but is also generating greater value from each transaction.

What’s Driving the Growth?

Several key factors contributed to CARSOME’s impressive performance during the quarter.

A stronger contribution from retail vehicle sales played a major role, while higher financing penetration enabled the company to generate additional revenue streams from vehicle purchases. At the same time, continuous improvements in refurbishment processes and inventory management helped enhance operational efficiency throughout the business.

Together, these initiatives have strengthened unit economics and created a more resilient foundation for long-term profitability.

Malaysia and Singapore Continue to Lead

Among CARSOME’s core markets, Malaysia and Singapore delivered the strongest performance during the quarter.

Consumer demand for value-driven vehicle ownership solutions remained healthy, while financing products continued to gain traction among buyers. These factors helped support transaction growth and profitability across both markets.

Meanwhile, Indonesia and Thailand faced a more challenging operating environment due to macroeconomic uncertainties and a cautious consumer credit landscape. Despite these headwinds, CARSOME continues to maintain its regional presence while adapting its strategy to local market conditions.

Expanding Physical Presence Across the Region

Beyond financial performance, CARSOME is also investing in its future growth through network expansion.

The company has opened five new showrooms and inspection centres across Southeast Asia so far this year, including new facilities in Putrajaya and Alor Setar. These expansions are expected to improve customer accessibility and strengthen the company’s omnichannel approach to vehicle buying and selling.

In addition, CARSOME has extended its strategic financing partnership with JACCS into Singapore, providing greater access to financing solutions for customers and further strengthening its ecosystem.

Looking Ahead to Q2 2026

Management remains optimistic about the months ahead.

CARSOME expects continued sequential growth in both transactions and EBITDA during the second quarter of 2026. The outlook is supported by sustained retail demand, stronger financing contributions, and ongoing operational efficiencies across its integrated platform.

Group CEO Eric Cheng noted that the company’s integrated ecosystem is now producing increasingly consistent results across its core markets. As operating leverage continues to improve, CARSOME believes there remains significant room for expansion beyond its current scale.

Conclusion

CARSOME’s latest quarterly results demonstrate more than just strong financial performance, they reflect the maturity of a business model that is increasingly capable of balancing growth with profitability.

With record GPU figures, expanding infrastructure, improving operational efficiency, and continued investment in financing and retail capabilities, the company appears well-positioned to strengthen its leadership in Southeast Asia’s used-car market.

As the automotive industry continues its transformation, CARSOME’s Q1 2026 performance may well be a sign of an important new chapter for the region’s leading automotive e-commerce platform.