Karmo, the Queensland-based car subscription business, has officially become Australia’s largest car subscription provider following its successful buyout of rival Motopool. This merger positions Karmo ahead of competitors, including publicly-listed Carly and private company Carbar, with a combined revenue of $33 million in the last financial year.
The merger is part of Karmo’s bold expansion strategy, which includes plans for significant growth in the coming year. The company is set to add 5,000 vehicles to its fleet and expand its footprint internationally. Karmo has also secured a $138 million debt facility from the finance divisions of global automotive giants Volkswagen and Toyota, enabling further growth and innovation within the thriving car subscription market.
A New Era for Car Subscription in Australia
Karmo’s founder, Nick Boucher, who will continue to serve as CEO following the Motopool buyout, sees this as a major leap forward for the company. “This acquisition not only solidifies our position as Australia’s number one car subscription provider but also accelerates our ability to meet the growing global demand for flexible vehicle access,” Boucher said.
The global car subscription market is projected to reach a staggering $66.7 billion by 2032, driven by shifting consumer preferences towards flexibility, affordability, and hassle-free access to vehicles rather than traditional ownership.
Karmo Acquires Motopool – As Seen In GoAutoNews
Read the full announcement on GoAutoNews to find out how this acquisition helps Karmo bring even more vehicles, more flexibility, and more options to our customers.
Karmo, Australia’s largest Car Subscription Provider
Karmo, Australia’s largest Car Subscription Provider. We’re dedicated to providing an exceptional car subscription experience and access to the widest range of family SUVS, trusty Utes, premium cars and EVs. Regardless of where you live and your lifestyle, we’re sure to have the perfect car to suit all your needs.
Subscribing to a car with Karmo isn’t just about getting from point A to point B—it’s about enjoying the journey with the flexibility and convenience that fits your unique lifestyle. So why wait? Embrace the future of driving with Karmo today.
Karmo offers car subscriptions in all major Australian cities. Our delivery hubs are located in Sydney Melbourne, Adelaide, Perth and Brisbane. To learn more about how to subscribe to a car, please contact us or submit an enquiry form.
