Uxin Launches Proprietary Used Car Rating System
BEIJING, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading nationwide online used car dealer in China, recently launched a proprietary rating system
that assesses and determines a used car’s condition, provides greater transparency to facilitate the decision-making process for customers and improves the overall customer experience.
Uxin has been dedicated to offering customers great value-for-money used cars and a best-in-class car buying experience by continuously upgrading its online products and services. After the Company transformed and migrated its entire transaction process online in April of this year, it set out to develop a used car rating system in order to further improve the buying experience. By leveraging its big data analytics capabilities, Uxin built a proprietary car rating system by analyzing the massive used car-related data that has been aggregated by its platform over the years, such as car age, mileage, exterior and interior condition, driving and operating conditions, and the correlation between such metrics and pricing. Now, when customers search for used cars on Uxin’s mobile application or website, they will find a “like-new” score placed on each car that delivers a straightforward reading of the car’s condition and enables the easy comparison of different used cars on a customer’s short list.
In addition to the rating system, Uxin also created a team of vehicle experts to handpick used cars from a national pool. On the profile page of all cars, there is also a recommendation that has been compiled by Uxin’s professionals to specify why the car would be worth buying.
(“Like-new” tag with each car; and purchase recommendation by Uxin vehicle expert on car profile page)
Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, said, “Providing timely transparency on the quality of our cars and their value-for-money profiles are key to earning trust in our brand and generating word-of-month referrals, which is the foundation for the long-term growth of our business. With the help of our rating system that grades a used car’s condition compared with a brand new one, we have been able to upgrade the buying experience for users of our platform by creating a more intuitive sense of the quality of the car that they are getting for the money. Our commitment is to provide quality value-for-money used cars, and we have always been guided by the idea that we only want to sell a car to our customers that we would also sell to our most loved friends and family. We believe this philosophy is the best way to achieve sustainable success.”