CAR Bull Sees Demand Supporting Brazil Business -- Market Talk

Dow Jones04-10

0132 GMT - Brazil's used-vehicle sales seem to be holding up despite recent interest-rate hikes, which Citi analyst Siraj Ahmed points out is good news for Australia-listed classifieds group CAR. Ahmed tells clients in a note that annual growth in used-vehicle sales accelerated to 17% in March, from 12% in February. He says this is positive for CAR's local Webmotors platform, which generates revenue from sales leads. Investors have been worried that higher interest rates in the country could dampen demand, he adds. Citi keeps a buy rating and A$42.00 target price on CAR shares, which are up 5.7% at A$33.05. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 09, 2025 21:32 ET (01:32 GMT)

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Investors have been worried that higher interest rates in the country could dampen demand, he adds. Citi keeps a buy rating and A$42.00 target price on CAR shares, which are up 5.7% at A$33.05. 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