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Singapore-based online car marketplace Carro has entered the Australian automotive market through the acquisition of CarPlace, a leading Australian used-car platform operated by Autoleague. The move marks Carro’s expansion into its eighth market and strengthens its position as one of the fastest-growing used-car marketplaces in the Asia-Pacific region.
The acquisition gives Carro an immediate presence in Western Australia, Queensland, and Victoria, three of Australia’s largest automotive markets. While financial details of the transaction were not disclosed, the deal represents a significant step in Carro’s international growth strategy as the company continues to explore expansion opportunities ahead of a potential dual listing.
As part of the agreement, Autoleague, one of Australia’s largest automotive groups, will remain a strategic shareholder in CarPlace while also becoming a strategic investor in Carro. The partnership is expected to support the long-term growth of both companies in the competitive automotive sector.
Carro plans to introduce its proprietary technology and digital solutions to enhance vehicle inspections, inventory management, stock tracking, customer lead generation, dealer network operations, and overall customer experience across Australia. The company believes these innovations will help improve efficiency and transparency in the country’s used-car industry.
According to Carro co-founder and CEO Aaron Tan, Australia represents a major growth opportunity due to its large automotive market, which records approximately 2.3 million used-car sales annually. He also highlighted the increasing demand for electric vehicles as a key driver of future growth.
Beyond retail operations, Carro aims to expand its wholesale vehicle business in Australia, including importing vehicles from Japan and supplying dealers across the country. Wholesale operations focus on selling vehicles in bulk to dealerships rather than directly to consumers.
Founded in 2015, Carro has raised more than S$700 million from major investors, including SoftBank Vision Fund and several sovereign wealth funds. The company employs over 4,500 people and currently operates in Singapore, Malaysia, Indonesia, Thailand, Japan, Taiwan, Hong Kong, and now Australia.
