Aussies do well with LatAm classies

Apr 21, 2016 at 08:24 pm by Staff


Australian companies taking their classified experience and technology to Latin America are set to drive future investment into the region.

Writing in AIM's Classified Intelligence Report, Léo Siqueira says companies including ASX-listed majors Seek and Carsales - which recently acquired top Chilean auto site Chileautos - are increasing revenue despite challenging economic scenarios.

Carsales has interests in sites in Brazil, Mexico and Chile; Seek in Brazil and Mexico, while LatAm Autos owns sites in Argentina, Bolivia-Ecuador-Panama, Peru and Mexico.

Siqueira quotes Carsales interantional director Paul Barlow that the company is still looking for assets in South America, and "the world over". Seek's corporate development director Ronnie Fink is also "assessing new opportunities".

While Latin American companies had regarded Chile as a tiny market with clear leaders, it could become a new hot spot in which Barlow says Carsales has much to offer: "Carsales is very strong in providing technology and solutions to help the dealers sell cars," he says.

• More from Classified Intelligence Report.

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