Digital car advertising for the car market is utilizing the increased use of mobile devices.
Digital advertising is becoming increasingly evident in the automotive industry due to its reliability; for instance, customers can check prices digitally while standing in an automotive dealership.
These services are offered by websites which are dedicated to providing an online marketplace for buyers & sellers of the vehicles, and these sites enable customers to post an advertisement for sale of the vehicle/used car business while dealerships are also hosted by these websites – new car business. These websites enable the customers to conduct research for the vehicles and allow them to compare brands, models, colours and prices conveniently from their smartphones or computers. Websites or portals eradicate the need for paying a visit to a car dealership for necessary information regarding any vehicle and adds value to the customer.
carsales.com Ltd (ASX: CAR)
Founded in 1997, carsales.com Ltd (ASX: CAR) is a well-known brand in Australia. carsales.com operates the largest online classified business in Australia and offers automotive, motorcycle and marine classifieds. Recently, the company reported that a strategic review is underway while it is pursuing the sale of its interest in Stratton Finance Pty Ltd. It was reported that carsales.com would sell its 50.1% stake in Stratton, and timing of the sale would be determined after the completion of a strategic review. CAR had appointed Miles Advisory Partners to conduct the strategic review.
As per the release, to-be divested arm ‘Stratton’ would be classified as a discontinued operation and a non-current asset held for sale in the FY19 financial disclosure. Also, the disclosure of FY19 financial statements would be reported separately as results from continuing operations (excluding Stratton) and discounted operations (Stratton). Lastly, the current book value of Stratton would be carried in the books as a held for sale while carsales.com expects to achieve the valuation through the sale process, and CAR would monitor the developments regarding the valuation.
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