{"id":15088,"date":"2024-01-26T00:11:46","date_gmt":"2024-01-25T16:11:46","guid":{"rendered":"https:\/\/carro.sg\/blog\/?p=15088"},"modified":"2025-11-05T17:37:21","modified_gmt":"2025-11-05T09:37:21","slug":"carro-opens-two-new-branches-in-kingkaew-and-tiwanon","status":"publish","type":"post","link":"https:\/\/carro.co\/sg\/blog\/carro-opens-two-new-branches-in-kingkaew-and-tiwanon\/","title":{"rendered":"Carro opens two new branches in Kingkaew and Tiwanon, eyeing expansion plans off a profitable FY2023"},"content":{"rendered":"<ul>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Two latest additions put Carro\u2019s total branches in Thailand to five, with existing branches in Suan Luang, Chonburi, Ayutthaya<\/span><\/i><\/li>\r\n \t<li style=\"font-weight: 400;\" aria-level=\"1\"><i><span style=\"font-weight: 400;\">Carro\u2019s\u00a0 expansion plans come off the back of a profitable FY2023 and\u00a0 a record-breaking EBITDA of US$4 million in Q1 FY2024\u00a0 <\/span><\/i><i><span style=\"font-weight: 400;\">\r\n<\/span><\/i><\/li>\r\n<\/ul>\r\n<figure id=\"attachment_15089\" aria-describedby=\"caption-attachment-15089\" style=\"width: 700px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-15089\" src=\"https:\/\/carro.sg\/blog\/wp-content\/uploads\/2024\/01\/PR-1-Kingkaew-1.jpg\" alt=\"Kingkaew and Tiwanon\" width=\"700\" height=\"426\" title=\"\"><figcaption id=\"caption-attachment-15089\" class=\"wp-caption-text\">Branch in Kingkaew<\/figcaption><\/figure>\r\n\r\n<span style=\"font-weight: 400;\">Carro, Southeast Asia\u2019s largest and most profitable online used car platform, has unveiled two new branches in Kingkaew and Tiwanon, bringing Carro Certified cars that are As Good As New to more people across the suburbs of Bangkok city.\u00a0\u00a0\u00a0<\/span>\r\n\r\n<span style=\"font-weight: 400;\">Fong Hon Sum, CEO of International Marketplace of Carro, says, <\/span><i><span style=\"font-weight: 400;\">\u201cThailand remains one of our key expansion markets in Southeast Asia and these new branches are the beginning of our exciting plans. <\/span><\/i><i><span style=\"font-weight: 400;\">Everyone deserves to own a Carro Certified vehicle and w<\/span><\/i><i><span style=\"font-weight: 400;\">e\u2019re very much focused on delivering a trustworthy buying and selling experience to people who are not living in the heart of Bangkok city.<\/span><\/i><span style=\"font-weight: 400;\">\u201d<\/span>\r\n\r\n<span style=\"font-weight: 400;\">These expansion plans in Thailand come off the back of robust financials across the region <\/span><span style=\"font-weight: 400;\">driven by strong recurring ecosystem ancillaries, namely in fintech, insurtech, aftersales, and mobility.<\/span>\r\n\r\n<figure id=\"attachment_15090\" aria-describedby=\"caption-attachment-15090\" style=\"width: 700px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-15090\" src=\"https:\/\/carro.sg\/blog\/wp-content\/uploads\/2024\/01\/PR-2-Tiwanon-1.jpg\" alt=\"kingkaew and tiwanon\" width=\"700\" height=\"426\" title=\"\"><figcaption id=\"caption-attachment-15090\" class=\"wp-caption-text\">Branch in Tiwanon<\/figcaption><\/figure>\r\n\r\n<span style=\"font-weight: 400;\">Earlier\u00a0 in\u00a0 June 2023, Carro clocked its highest EBITDA of over US$4 million, exceeding profitability targets for Q1 FY2024, despite a seasonally weaker quarter given the Hari Raya, Lebaran and Songkran holidays across the region.<\/span>\r\n\r\n<span style=\"font-weight: 400;\">Carro\u2019s Q1 FY2024 (April-June 2023) Gross Profit Margins increased to 14%, well-ahead of FY2023's Gross Profit Margins of 9%. Its EBITDA is now at an annualised run-rate of over US$50 million, more than 10 times of what it achieved for the entire FY2023.\u00a0<\/span>\r\n\r\n<span style=\"font-weight: 400;\">Thailand Country Head Shahrol Azman Ahmad says, <\/span><i><span style=\"font-weight: 400;\">\u201c<\/span><\/i><span style=\"font-weight: 400;\">We want Carro to be the number 1 choice for used cars, not just in terms of buying and selling, but for all things car-related throughout the ownership journey. Our expansion plans in Thailand are part of the bigger vision that we have for this key market and Group as a whole and we\u2019re looking forward to ramping up our presence. \u201d\u00a0\u00a0<\/span>\r\n\r\n<span style=\"font-weight: 400;\">The two new locations are at:<\/span>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td><b>Kingkaew Branch<\/b><\/td>\r\n<td><b>Tiwanon Branch<\/b><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">456 Moo 7 Racha Thewa,\r\n<\/span><span style=\"font-weight: 400;\">Bang Phli District,\r\n<\/span><span style=\"font-weight: 400;\">Samut Prakan 10540<\/span><span style=\"font-weight: 400;\">Tel: <\/span><span style=\"font-weight: 400;\">02-460-9380<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">1\/2 ON Tiwanon,\r\n<\/span><span style=\"font-weight: 400;\">Tambon Talat Kwan,\r\n<\/span><span style=\"font-weight: 400;\">Mueang Nonthaburi District,\r\n<\/span><span style=\"font-weight: 400;\">Nonthaburi 11000<\/span><span style=\"font-weight: 400;\">Tel: <\/span><span style=\"font-weight: 400;\">02-460-9380<\/span><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>","protected":false},"excerpt":{"rendered":"<p>Two latest additions put Carro\u2019s total branches in Thailand to five, with existing branches in Suan Luang, Chonburi, Ayutthaya Carro\u2019s\u00a0 expansion plans come off the back of a profitable FY2023 and\u00a0 a record-breaking EBITDA of US$4 million in Q1 FY2024\u00a0 Carro, Southeast Asia\u2019s largest and most profitable online used car platform, has unveiled two new &hellip;<\/p>\n","protected":false},"author":77,"featured_media":15090,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[727],"tags":[],"class_list":["post-15088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-announcements"],"_links":{"self":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/15088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/users\/77"}],"replies":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/comments?post=15088"}],"version-history":[{"count":3,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/15088\/revisions"}],"predecessor-version":[{"id":15093,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/posts\/15088\/revisions\/15093"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media\/15090"}],"wp:attachment":[{"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/media?parent=15088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/categories?post=15088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carro.co\/sg\/blog\/wp-json\/wp\/v2\/tags?post=15088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}