Carousell launches auto unit as car marketplaces emerge as its largest vertical

Singapore’s Carousell announced the launch of Carousell Auto Group, which would encompass its automobile classifieds platforms across the region.

Lucas Ngoo, co-founder, Carousell / Source: Carousell

Under the group’s umbrella are the operations of Mudah Auto in Malaysia, Cho Tot Xe in Vietnam, and Carousell Auto in the Philippines, Hong Kong, and Singapore, as well as transactional platforms OneShift and Revo Financial.

The move is part of Carousell’s plans to invest “aggressively” to establish an automobile ecosystem in the region, it said in a statement. The startup said that the autos vertical is now its largest vertical, contributing a third of its total revenue.

With the launch of its auto unit, the online classifieds major also appointed Gaurav Bhasin to serve as chief strategy officer for Carousell in addition to his role as the company’s CEO for Malaysia. Bhasin will lead the strategy and execution of Carousell Auto in his new role.

He will work closely alongside the firm’s co-founder, Lucas Ngoo, to scale across all of Carousell Auto’s markets.

“We want to transform Carousell Auto Group into a one-stop shop for everything auto-related,” said Ngoo. “Soon, our users across the region will be able to sell and buy their cars quickly in a seamless manner and have access to the entire autos ecosystem of workshops, accessories, and services.”

The launch of the new auto arm comes months after Carousell expanded its presence in the marketing space with the launch of Carousell Media Group. JJ Eastwood, an adtech veteran with over 20 years of experience from companies such as eBay and Rocket Fuel, was also tasked to lead the new unit’s operations as managing director.