When this was written — On 2 September 2026. The figures are as at that date or earlier and have not been updated since.
Car Group’s decision to offload its OnPlatinum Group IT business was supposed to clean up the ledger, but short sellers aren't buying the simplified portfolio narrative. Instead of retreating, they have spent the last quarter tightening their grip on the automotive classifieds giant.
The divestment, designed to sharpen focus on core automotive marketplaces, has done little to arrest the broader skepticism that peaked around the release of the FY26 annual results on 10 August R1. While the company flagged its reporting timeline early in July R2, the actual numbers in the Appendix 4E R1 followed a pattern of softening margins first flagged during the half-year presentation in February R3. An undisclosed director stepped in with a buy on 28 August 4, a classic signalling manoeuvre, but the market remains focused on structural headwinds rather than insider confidence.
The numbers show a deliberate, steady accumulation. CAR’s short position now sits at 12.08%, hovering just below its 90-day high of 12.20% and representing a massive premium to the peer sector average of 2.04%. The 30-day short slope of 0.0214% per day reveals a persistent build. Even with the share price clawing back 2.4% over the last month to $27.57, the 30-day price-to-short correlation of -0.332 suggests that any upward tick in price is being met with fresh short positioning rather than short covering. Over 12 months, the stock remains down 26.9%.
With short interest holding near its 90-day peak, the market is treating Car Group's asset sales as a defensive retreat rather than a strategic pivot.