Uxin (UXIN) Investor Summit Virtual summary

Market overview and growth potential

• China has 315 million vehicles, making it the largest car market globally, but its used car market is still immature compared to the U.S., with significant growth potential over the next 5–10 years, possibly reaching 35 million annual sales by 2030.

• The market is highly fragmented, with 95% of transactions handled by small dealers with limited inventory, leading to a disordered and inefficient marketplace.

• Industry evolution is expected to follow a retail upgrade path, moving from bazaar-style markets to online and warehouse superstore models.

Business model and competitive advantages

• Operates both large-scale offline superstores and an online platform, combining the strengths of CarMax and Carvana models.

• Superstores feature advanced reconditioning factories, with the largest able to display up to 10,000 cars and process 100,000 vehicles annually.

• Standardized, digital, and data-driven operations enable efficient cross-region expansion and superior customer experience.

• Inventory financing provides significant financial leverage, resulting in higher capital returns compared to small dealers.

Customer experience and operational efficiency

• Stores are designed to build trust, offering a clean, professional environment modeled after Costco, with one-stop services including DMV, finance, and warranty.

• High sales conversion rates: 40–50% of visitors purchase, with average sales turnover reduced to less than 30 days.

• Multiple revenue streams from value-added services such as logistics, insurance, and repairs, in addition to price spread.

• Advanced in-house reconditioning reduces costs and turnaround time, with average reconditioning costs at $150 and processing time under three days.