Why Is Carma (ASX:CMA) Share Price Down Today?

Sonal Goyal

05 November 2026 01:57 PM AEDT

Why Is Carma (ASX:CMA) Share Price Down Today?

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Shares traded at A$0.600 during the 5 November 2026 session, down 8.40%.
Carma sold a record 2,100 units in Q1 FY27, up 105% on the prior corresponding period.
Record total Revenue of A$44.3 million was up 88%, with Gross Profit up 57% to A$3.5 million.

Shares in Carma Limited (ASX:CMA) traded at A$0.600 during the Trading session on 5 November 2026, down 8.40% in the early afternoon. The S&P/ASX 200 was up 1.87%, trading near 9,000 points. Carma is an online used car retailer that buys, reconditions and sells vehicles, including through its Sell-to Carma channel. Its latest update is a Q1 FY27 quarterly activity report and Appendix 4C, dated 29 October 2026, covering the quarter ended 30 September 2026.

Q1 FY27 activity report released 29 October 2026

Carma reported record sales of 2,100 units in the quarter, including 1,354 retail units and 746 wholesale units. Total revenue was A$44.3 million, up 88%, and gross profit was A$3.5 million, up 57%. Retail average selling price was A$27,600, down 11%, as the mix shifted toward older cars through Sell-to Carma.

The company said total gross profit per retail unit fell 27% to A$2,500, reflecting lower wholesale gross profit and higher vehicle write-downs. Retail vehicles sold within 30 days of listing generated retail gross profit per unit of A$3,300. Online inventory days improved to 45 from 52 in the prior quarter, and wholesale gross profit returned to pre-conflict levels by the end of the quarter.

Sector context

At midday, the ASX Consumer Discretionary sector was up 2.61%, while Carma shares moved lower in the session. The Quarterly Report is dated 29 October and is not linked to the 5 November price move.

What to watch ahead

Investors will follow the company's next quarterly report, including unit volumes, online inventory days and the trend in gross profit per unit as the mix of vehicles changes.

Risks

Gross profit per unit fell in the quarter, and write-downs and wholesale margins can vary. The Business depends on vehicle sourcing and reconditioning capacity. Consumer Demand for used cars is sensitive to interest rates and household spending, and the company noted the short-term effects of the conflict in Iran on wholesale margins.

Final Word

Carma's latest quarter reports record unit sales and revenue, alongside lower gross profit per unit. The share price fell during the session, and the company's next report will show whether the Margin trend continues.

FAQs

Q: Why did Carma shares fall on 5 November 2026?

A: Shares traded at A$0.600, down 8.40%, during the session. The quarterly report is dated 29 October 2026 and is not linked to the price move.

Q: How many units did Carma sell in Q1 FY27?

A: Carma sold a record 2,100 units, up 105% on the prior corresponding period.

Q: What happened to gross profit per retail unit?

A: Total gross profit per retail unit fell 27% to A$2,500, due to lower wholesale gross profit and higher vehicle write-downs.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

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.