The Smart50 2024 Innovator Award winner: Carma
The sale of used cars was for a long time synonymous with a sense of shonkiness, but innovators like Carma are redefining the experience.
The sale of used cars was for a long time synonymous with a sense of shonkiness. That’s no longer the case, though, because the modern, technology-driven and customer-first approach delivered by Carma is redefining the experience – and it has landed the business this year’s Smart50 Innovator Award.
Frustrated with the traditional process of purchasing a used car, which often involved time-consuming negotiations, hidden issues with vehicles, and a general lack of transparency, Carma co-founders Lachlan MacGregor and Yosuke Hall set out to change the game and disrupt the dealership model.
Building the Carma business model on three key pillars of transparency, quality, and convenience, McGregor and Hall fashioned their business into one of the largest used-car dealers in Australia.
Carma’s CarMatch tool recommends vehicles based on a customer’s preferences, creating a personalised buying experience. And each vehicle in Carma’s inventory undergoes a rigorous inspection and reconditioning process at Carma’s state-of-the-art facility. This commitment to quality ensures customers receive vehicles in excellent condition, free from any hidden issues.
However, a Carma customer is given the opportunity to scrutinise their vehicle of choice via the company’s website, which has features like interactive 360-degree vehicle views, enabling would-be buyers to explore every detail of a car, and its industry-first imperfections gallery, which provides complete transparency by displaying any cosmetic flaws upfront.
It’s innovations like these that set Carma apart, sparking progressive change in the industry and significant success for the company – including revenues of $69 million in the 2024 financial year – in the space of a few short years.
Carma placed sixth on this year’s Smart50 list.
