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Carro launches new cars, discounts as it marks 10th anniversary
Singapore-based online car marketplace Carro has launched new car offerings for private-hire drivers, as the company marks its tenth anniversary.
Previously focused on used cars, the company will now sell parallel-imported vehicles along with in-house financing and after-sales services.
Carro’s new lineup features two pricing options: a premium package, which includes a 10-year warranty and 10 servicing sessions, and a basic package, offering a five-year warranty and five servicing sessions.
Private-hire vehicle drivers can access loan tenures of up to ten years through Carro’s financing unit, Genie Financial Services, with no down payment required.
This initiative aims to support drivers looking for full ownership of vehicles without rental-related constraints.
The launch promotion offers discounts of up to S$4,000 (around US$3,000) on selected models, including the Toyota Voxy and Honda Stepwagon. Carro plans to expand its offerings to include electric vehicle options in the future.
Recent Carro developments
| Timeline |
|---|
| 10-Dec-2024 🚗 Carro swaps growth for profitability, as losses fall 92% in FY24 Carro cuts operating losses by 92%, focusing on higher-margin revenues despite a 6% drop in revenue to $781M. |
| 29-Aug-2024 🚗 Carro’s next pit stop? Recruitment services Carro’s acquisition of Kaidee paves the way for a new recruitment platform, OKAI, leveraging AI-driven hiring solutions. |
| 20-Jun-2024 🚗 Carro bags $55m loan from HSBC’s $1b ASEAN Growth Fund Carro secures $55.5M loan from HSBC for Genie Financial Services to expand its used-car financing across Southeast Asia. |
| 15-Apr-2024 🚗 Carro eyes $100m pre-IPO raise to push valuation to $1.5b Carro aims to raise $100 million, positioning for an IPO with a potential valuation over $1.5 billion amid Asian market growth. |
| 27-Mar-2024 🚗 Carro posts 67% revenue jump in FY 2023, generates positive adjusted EBITDA Carro’s revenue soared 67% to S$1.1B, driven by ecosystem growth despite rising losses from strategic investments. |
| 07-Mar-2024 🚗 Carro enters Hong Kong with Beyond Cars acquisition Carro expands its presence by acquiring Beyond Cars, enhancing its used-car services in Hong Kong and boosting growth potential. |
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