Singapore-based online used-car marketplace Carro‘s losses widened more than sixfold year on year (y-o-y), exceeding its revenue, according to the latest numbers released for the financial year that ended Mar. 31.

Only a year ago, the digital auto retailer announced record earnings before interest, taxes, depreciation and amortization (EBITDA) of $11 million for the first quarter.

June EBITDA was at $4 million, another record, with an annualized run-rate of over $50 million, more than 10 times what it achieved for the entire year, according to a blog post by the company.

The secondhand automotive company, which recently acquired Hong Kong-based BeyondCars for an undisclosed amount, is now active in seven markets, adding Hong Kong to Singapore, Malaysia, Indonesia, Thailand, Japan and Taiwan.

The AIM Group has contacted Carro for comment and will update this article if we receive a response.

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