03 Oct 2017
C-to-b used auto auction platform Chezhibao (车置宝) is headed for profitability, according to a recently-released internal report.
The company is citing regulatory changes in China, particularly the lifting of restrictions on the movement of used autos between provinces, as fuelling the drive toward profit.
In H1 2017, 62 percent of transactions made via Chezhibao were across provincial borders in China, according to the report. Chezhibao now operates a network of 30,000 dealers across 300 cities.