Car Group Ltd (ASX: CAR) was founded in 1997, it’s the largest automotive, motorcycle and marine classifieds business in Australia. It is headquartered in Melbourne and employs more than 1,200 people around the world. The company has operations in the Asia Pacific region and has stakes in businesses in Brazil, South Korea, Malaysia, Indonesia and Thailand.
The S&P/ASX 200 (ASX:XJO) fell 0.7% on Wednesday, the second straight negative session. CBA (ASX:CBA) and Carsales (ASX:CAR) are in the news.
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The Carsales share price is sitting around 10% lower than its all-time high. Could this be an opportunity to buy shares in a high-quality business on the dip? Or is the rally over?
The Carsales.com Ltd (ASX: CAR) share price jumped 3% in early trading on Wednesday after releasing its FY20 financial report to investors. The ASX 200 (ASX: XJO) was up 0.8%.
