Classifieds giant 58.com (NYSE: WUBA) has launched a rebranding of its used auto business for consumers outside of the country's biggest cities. Rural consumers are being targeted with a new brand called "Cabbage Prices". The new name is a play on a traditional Chinese colloquialism for unexpected cheapness. The brand will focus on providing consumers with models priced between 30,000 and 50,000 RMB (approx. $4-7,000 U.S.).
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