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Renrenche completes D-round $150 million financing

BEIJING – Renrenche, one of the online used car dealers, announced on September 5 that it has completed D-round $150 million in financing. The new investors include Hanfor Capital, China Minsheng Investment Group (CMIG), Xinjun Capital and Prometheus Capital. Moreover, strategic investors Tencent, Shunwei Capital, Ceyuan Ventures and Redpoint Ventures

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Baking the used car market cake with the right ove

China’s used car market is like a cake that is half-baked but one that also requires the right oven, described Jayden Zhao, CMO of online C2C+C2B2C used car transaction platform haoche51.com at CBU/CAR’s Monthly Automotive Salon (MAS) held on June 22. The analogy is interesting but it in fact perfectly

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Auto e-commerce is about online-offline integratio

BEIJING – Automotive e-commerce is not simply online business models taking over or disrupting traditional offline activities, but rather the integration of the two, according to executives of several automotive e-commerce platforms at the 2015 China Internet Auto E-Commerce Summit held in Beijing on September 13. The Summit was organized

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Alibaba and Yongda team up to offer O2O sales and service solutions

SHANGHAI – Alibaba Automobile, the automobile business unit of Alibaba Group Holdings Ltd., and Shanghai Yongda Automobile Group Co., Ltd., the indirect wholly-owned subsidiary of China Yongda Automobiles Services Holdings Ltd., signed a strategic cooperation agreement here on August 5 to offer online-to-offline (“O2O”) comprehensive sales and services solutions. Yongda,

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Can “E-Qoros” bring substantial sales growth?

Persian king Xerxes was about to lead a large army to invade Sparta. He dispatched an emissary to send a letter to the city-state which contains only one sentence: “If we invade Sparta, the city would be flattened.” He never expected that the Spartans would respond with only one word:

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Yongda Auto establishes Internet cooperation with Bitauto and UXI

BEIJING – China Yongda Automobiles Services Holdings Ltd., a leading passenger vehicle retailer and comprehensive service provider in China, announced on August 19 that it has signed an Internet strategic cooperative agreement with Bitauto Holdings Ltd. and UXIN (Beijing) Information Technology Co., Ltd., according to PRNewswire. The three companies will

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