In a statement, Carsome said it made over US$305 million in total revenue, amid a 20% decline in the total industry volume (TIV) for new car sales in September.

Carsome CEO Eric Cheng said this quarter’s results highlighted its disciplined approach to profitability and the impact of consistent performance across three consecutive quarters.

“The substantial rise in Ebitda through improved gross margins and continuous ancillary income improvements reflect our team’s effective execution and strategic prioritisation.

“It is a reflection of our business resilience and steady path towards its first full profitable year.”

Cheng also said the ancillary income for the group rose by 26%, bringing overall gross margins to over 10%.

He went on to say that the group’s consistent performance highlighted Carsome’s commitment to optimising profitability since late last year.

By increasing gross margin while maintaining transaction scale, Carsome has achieved a 16% increase in gross profit per unit, which “significantly boosted” overall profitability, he said.

Separately, Carsome said it had strengthened its strategic partnerships with local and regional lenders to further reinforce its market position.