CAR Group Bull Says Trends Softened in May, June

Dow Jones07-15

Citi pares its price target on CAR Group by 12% to A$30.60/share, highlighting softening trends toward the end of 2H. Analyst Siraj Ahmed notes that traffic to Carsales.com.au was up 14% in 2H compared to a year ago. "However app traffic slowed in May/June which combined with weak used car sales in June (-16% year-over-year) could point to softening used car demand into FY27," Citi says. Still, the bank retains a buy call on CAR's stock. The softening trends could impact CAR's ability to push through price increases. But Citi says media growth, dealer add-ons, and other offsets should drive 10% Ebitda growth in FY27, or 12% growth when currency swings are stripped out. CAR ended Tuesday at A$25.47. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 14, 2026 19:10 ET (23:10 GMT)

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But Citi says media growth, dealer add-ons, and other offsets should drive 10% Ebitda growth in FY27, or 12% growth when currency swings are stripped out. CAR ended Tuesday at A$25.47. 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Analyst Siraj Ahmed notes that traffic to Carsales.com.au was up 14% in 2H compared to a year ago. \"However app traffic slowed in May/June which combined with weak used car sales in June  could point to softening used car demand into FY27,\" Citi says. Still, the bank retains a buy call on CAR's stock. The softening trends could impact CAR's ability to push through price increases. But Citi says media growth, dealer add-ons, and other offsets should drive 10% Ebitda growth in FY27, or 12% growth when currency swings are stripped out. CAR ended Tuesday at A$25.47.  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