Image source: Shutterstock
Highlights
- Australian vehicle sales increased 2.7% in July 2024, reaching 99,486 units.
- ASG’s revenue surged 26.3% in 1HFY24, but NPAT growth was modest at 1%.
- ASG expects stable revenue growth and focuses on dealership acquisitions for expansion.
Autosports Group Limited (ASX: ASG) is a prominent luxury car retailer in Australia. It specialises in new and used vehicle sales. The company also distributes finance and insurance products. Additionally, it sells aftermarket products and spare parts.
New Vehicle sales continue to grow
Data released by the Federal Chamber of Automotive Industries (FCAI) on 5 August 2024 reveals a continued upward trajectory in new vehicle sales across Australia. In July 2024, sales climbed to 99,486 units, marking a 2.7% increase compared to July 2023, the previous highest for the month.
New vehicle sales growth is expected to continue in the near future amid an expected decline in interest rates next year, which is anticipated to make auto loans more accessible and stimulate purchases. Additionally, the surge in electric vehicle (EV) adoption, supported by government incentives and advancements in charging infrastructure, is poised to positively impact the automotive sector, potentially leading to increased revenues for companies in the industry.
Insights and outlook for ASG
In the first half of FY24, Autosports Group experienced a 26.3% annual increase in total revenue to AUD 1,341.6 million, driven by a rise in new vehicle sales amid a normalised supply chain and a strong luxury market. Despite this revenue growth, the company's net profit after tax (NPAT) saw a modest 1% increase to AUD 35.5 million, due to a substantial AUD 14 million rise in interest costs compared to the previous period. ASG is scheduled to release its full FY2024 earnings report on 22 August 2024.
Company outlook
The company anticipates that a steady supply of new vehicles and a robust luxury market will contribute to stable revenue growth in the second half of the year. Additionally, ASG expects service and parts revenue to exceed trends due to enhanced vehicle delivery. The company is also concentrating on acquiring dealerships to drive growth and aims to achieve approximately AUD 250 million in annual revenue increase through these acquisitions.
Stock performance
The stock price of ASG has gained approximately 2.34% over the past month, however, it has decreased around 8.78% in the last six months. It has a 52-week low of AUD 2.020 and a 52-week high of AUD 2.770 and is currently trading below the average of these 52-week high and low values.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 16 August 2024. The reference data in this article has been partly sourced from REFINITIV.
Disclaimer:
This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.
Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.
There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.
Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.
The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.
The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.
Kalkine does not issue, sell or deal in any financial products.
This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.
To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.
Please also read our Terms & Conditions and Financial Services Guide for further information.
Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.
Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.
Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.
Copyright 2026 Krish Capital Pty. Ltd. (ABN 61629651510). All Rights Reserved. No part of this Article, or its content, may be reproduced in any form without our prior consent.