Australian used car platform CarPlace acquired by Singapore’s car marketplace Carro

With the acquisition of CarPlace, a prominent Australian used car marketplace run by Autoleague, one of Australia’s biggest automotive companies, Carro, the top online automobile marketplace in Asia Pacific, now has a physical presence in three of the country’s four biggest markets.

Carro said in a statement on Thursday that the expansion expands its reach to eight markets in the region.

As part of the agreement, Carro will launch wholesale operations from Victoria and take over showrooms in Queensland and Western Australia. Autoleague joins Carro as a strategic investor and continues to be a strategic shareholder of CarPlace.

Carro intends to use its in-house solutions for dealer networks, customer experience, asset management, inventory monitoring, vehicle inspections, and lead management.

With an annual sales volume of 2.3 million used automobiles and a rapidly increasing penetration of electric vehicles, Australia is one of the biggest used car marketplaces in Asia Pacific, according to Aaron Tan, co-founder and CEO of Carro. The CEO continued, “The market is ready for a technology and AI-powered platform to transform the used car landscape.”

In addition, Carro hopes to expand its wholesale business and establish itself as one of the few Asia Pacific companies equipped to service the import corridor between Australia and Japan. Tan stated that Carro is well-positioned to introduce popular new and used Japanese models into the Australian market thanks to its presence in Japan.

The partnership shows faith in Carro’s technology infrastructure, efficient operations, and dedication to transparency, according to Dan Kawai, Managing Director and CEO of Autoleague. Autoleague is dedicated to collaborating closely with Carro to support its goals in Australia.