Carma delivers 439 retail units in October, a record start to any quarter
Carma Limited (ASX: CMA) delivered 439 retail units in October 2026, which the company describes as its best-ever start to any quarter. Deliveries accelerated after school holidays ended.
The online used-car retailer’s total for the three months to 31 October 2026 reached 1,370 retail units. That is a 91% increase on the 716 units delivered in the three months to 31 October 2025.
The key operating highlights from the 9 November 2026 update:
- Record first month for any quarter, with deliveries accelerating after school holidays ended
- Record 818 vehicles purchased, up 85% on the prior corresponding period (pcp)
- Record 25.3 retail units reconditioned per shift, up 101% on pcp, with 532 retail units reconditioned
Buying and reconditioning sit on the supply side of the delivery figures. Records at both ends point to the operation scaling through the first month of Q2 FY27.
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Buying and reconditioning records support the delivery run
Record vehicle purchases
Carma purchased 818 vehicles in October, up 85% on pcp and a record for the company. Purchasing volume feeds the pool of vehicles available for reconditioning and eventual sale.
Record reconditioning throughput
Reconditioning output reached 25.3 retail units per shift, up 101% on pcp, with 532 retail units reconditioned in the month. October had 21 reconditioning days, which the company defines as the number of days reconditioning operations were active.
Reconditioning is the inspection and preparation work done on a purchased car before sale. For an online used-car retailer, throughput determines how quickly purchased cars become sellable stock.
Carma noted that monthly deliveries can vary based on period-specific factors. These include the number of operating and delivery days in the month, public and school holidays and other seasonal factors.
Capacity is the next constraint to be addressed. Carma’s FY26 results outline a second shift at the St Peters facility from the March Quarter FY27, expected to roughly double daily reconditioning capacity to about 60 retail units.
Monthly delivery and revenue trend since July 2025
The table below sets out quarterly totals from Q1 FY 2026 to Q1 FY 2027, plus October 2026, as reported by Carma. The financial information in the announcement is unaudited.
| Period | Retail Units delivered | Retail Revenue | Reconditioning Days |
|---|---|---|---|
| Q1 FY 2026 | 633 | $19.6m | 66 |
| Q2 FY 2026 | 746 | $22.0m | 60 |
| Q3 FY 2026 | 774 | $22.7m | 61 |
| Q4 FY 2026 | 1,003 | $27.0m | 61 |
| Q1 FY 2027 | 1,354 | $37.4m | 66 |
| October 2026 | 439 | $12.1m | 21 |
The monthly series shows a clear step change. Deliveries rose from 226 in April 2026 to 324 in May and 453 in June. They have stayed above 420 each month since, at 423 in July, 461 in August, 470 in September and 439 in October.
Retail revenue followed the same direction. October 2026 retail revenue was $12.1m, compared with $7.5m in October 2025.
Retail Revenue is revenue from used vehicles sold to retail customers online through Carma’s website. It excludes wholesale revenue and other revenue, which includes the origination of customer loans, extended coverage and the referral of insurance products.
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