CAR Group falls; Citi expects co's North America business to slow down

Shares of Australia-based CAR Group CAR.AX fall nearly 4% to A$35.220, their lowest level since August 13, 2024

Analysts at Citi expect CAR's digital marketplace business, Trader Interactive, to slow down by 8% in the second half of fiscal 2025

Trader Interactive connects buyers and sellers in North America

CAR, which works as an online marketplace for automobiles around the world, reported HY adjusted net profit of A$177.3 million ($112.23 million) in early February, 3% below Visible Alpha consensus

Citi warns recovery in Trader Interactive to be further delayed

"We see RV retail sales over next few months and TI's price increase in June quarter as next catalysts" - Citi

Stock down 2.2% this year, as of 0045 GMT

($1 = 1.5798 Australian dollars)