CARSOME Group Inc. reported FY2025 EBITDA of $23 million, more than doubling year-on-year, reflecting continued margin expansion and cost discipline across its core markets.
The Southeast Asian integrated car e-commerce player reported a 16 percent increase in gross profit, while gross profit per unit (GPU) rose 22 percent year-on-year to a record high, underscoring stronger unit economics and improved operational leverage across its core markets.
The FY2025 results reflect progress following two years of cost management, balance sheet adjustments, and capital allocation measures. The company’s performance was driven primarily by Malaysia and Singapore, where transaction volumes remained stable despite softer regional automotive demand. Management attributed margin expansion to inventory management, pricing optimization, and higher contribution from ancillary services. The increase in GPU suggests earnings improvement supported by margin performance rather than volume growth alone.
During the year, CARSOME expanded dealer financing offerings and scaled its Value Plus retail proposition aimed at affordability-focused consumers. The company also strengthened partnerships with financial institutions to support financing penetration across its platform. Financing and related services continue to represent higher-margin revenue streams compared with vehicle transactions, contributing to overall gross profit growth.
Eric Cheng, Co-Founder and Group Chief Executive Officer, said the FY2025 results reflect the company’s operational focus in recent years and noted continued opportunity in the used-car segment as automotive demand patterns evolve.
Operating across Malaysia, Indonesia, Thailand, and Singapore, CARSOME continues to position itself as a digital consolidator in Southeast Asia’s fragmented used-car market — a segment that remains structurally underpenetrated online compared to developed markets.
CARSOME operates in Malaysia, Indonesia, Thailand and Singapore. The company focuses on digitalising used-car transactions and providing services across the vehicle ownership lifecycle. Its subsidiaries include iCar Asia, WapCar, CarTimes, CARSOME Academy and CARSOME Capital, which operate across automotive content, vehicle inspection, ownership transfer, financing and training services.
The company strives to continue boosting its operational efficiency and margin performance in the coming financial year.
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