Matt Wright sold his used car company, Cars4Us, to Toyota Tsusho for $120 million, six years after founding it.

Matt Wright, founder of MCT Automotive Group, says he remains involved in the used car industry after selling his company, which operates the Cars4Us website, to Toyota Tsusho for $120 million just six years after launching it from a small Brisbane warehouse. The business grew from four employees and seven cars to processing about 4,000 vehicles weekly and generating roughly $500 million in annual revenue. Originally a wholesale seller, it expanded into direct consumer sales and trade-ins, focusing on better value and digital convenience. Wright sees continued potential in the used car market despite the sale.