Carbar has acquired HelloCars Subscription from Loopit, in a move to consolidate its presence in Australia’s car subscription market.
Loopit, a Sydney software company whose platform underpins subscription and rental services worldwide, will now shift focus entirely to its software business while continuing to support HelloCars under Carbar’s ownership.
Meanwhile, Carbar will retain the HelloCars brand, positioning it as its value-oriented, no-frills offering.
Existing brands will be further stratified with Carbar as the premium option for long-term flexible users, Carly (which Carbar acquired in May) for mid-term subscribers, and HelloCars for cost-sensitive users.
Des Hang, Carbar CEO, said the acquisition strengthens scale and brand coverage in a market heading toward further consolidation.
“This deal reinforces our position as a leading car subscription platform in Australia,” he said.
“By expanding our brand portfolio and capabilities, we’re building a more seamless and scalable experience that better serves a broad spectrum of Australian drivers’ different needs.
“Following global trends, we expect further consolidation in the car subscription space over the next year.”
Under all Carbar, Carly or HelloCars subscriptions, customers receive exclusive vehicle use and fixed weekly payments that include maintenance, insurance, registration and roadside assistance, with flexibility to stop, swap or upgrade on short notice.
Loopit Director Paul Higgins said he was “proud to see the brand continue its journey under Carbar”.
“At Loopit, we’re more committed than ever to powering the next wave of growth in subscription and rental through our software,” he said.
“We look forward to working alongside Carbar and its portfolio of brands as the industry scales this model with confidence.”
By combining HelloCars’ value positioning with its existing brands, Carbar aims to cover a broader range of demand in Australia’s nascent car subscription market.
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