Fund managers including Milford Asset Management, Blackwattle Investment Partners, Wilson Asset Management, Yarra Capital Management, Ten Cap, Pendal Group, Antares Capital, Selector Funds Management, Firetrail Investments, Hyperion Asset Management, Forager Funds, Paradice Investment Management, Perennial Partners, Katana Asset Management, Oracle Advisory Group, Maple-Brown Abbott, Airlie Funds Management, Cooper Investors, Quest Asset Partners, Medallion Financial, Auscap Asset Management, Vertium Asset Management and Investors Mutual Limited have invested in CAR Group Limited (ASX:CAR).

Investors Mutual, Vertium and Auscap highlight a sharp valuation de-rating, arguing that a marketplace with network effects is less vulnerable to AI disruption than the market fears. Wilson Asset Management points to market leadership in Australia and growing international franchises.

Pendal noted revenue was slightly light and some quality issues in the result, and Wilson Asset Management remains on the sidelines. AI disruption concerns weighed on the share price.

CAR Group Limited, formerly Carsales.com Limited, is a global digital marketplace operator established in the 1990s. The company manages a diversified portfolio of vehicle marketplaces across Oceania, Asia, and The Americas. Key assets include carsales in Australia, Encar in South Korea, Trader Interactive in the U.S., and chileautos in Chile. Additionally, CAR Group maintains a majority stake in webmotors in Brazil. The company focuses on connecting buyers and sellers through its international digital platforms.