0132 GMT - Brazil's used-vehicle sales seem to be holding up despite recent interest-rate hikes, which Citi analyst Siraj Ahmed points out is good news for Australia-listed classifieds group CAR. Ahmed tells clients in a note that annual growth in used-vehicle sales accelerated to 17% in March, from 12% in February. He says this is positive for CAR's local Webmotors platform, which generates revenue from sales leads. Investors have been worried that higher interest rates in the country could dampen demand, he adds. Citi keeps a buy rating and A$42.00 target price on CAR shares, which are up 5.7% at A$33.05. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 21:32 ET (01:32 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.