2323 GMT - Any positive effect from CAR Group's larger-than-expected U.S. price increases is offset by increased churn among recreational-vehicle dealers, Citi analyst Siraj Ahmed says. He tells clients that conversations with dealers point to a 6% price increase across all verticals at CAR's Trader Interactive business, effective from April 1. This compares with his prior forecast of a 5% price increase from mid-May. However, he says that the revenue benefit is countered by a 4% on-year drop in dealer numbers on Trader Interactive. His key question is whether weaker consumer confidence will negatively affect vehicle demand. Citi has a "buy" rating and A$43.40 target price on the stock, which is down 2.25%, at A$32.63. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 18, 2025 19:23 ET (23:23 GMT)
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