ICar Asia Limited, (ASX: ICQ) owner of the largest network of automotive portals in Southeast Asia, has published its Appendix 4C for the final quarter of 2018. The results show that the company has been instrumental in developing the market for automotive classifieds in the region.
Zhongsheng Group (HKG: 0881), one of China's largest auto dealership companies, has severed ties with AutoHome (NYSE: ATHM) over a hike in membership prices. AutoHome stock fell from $82 U.S. per share at the close of trading on Thursday to $72 U.S. per share on Friday morning as the news became public.
The No. 1 Dutch used-auto site AutoScout24.nl is about to reintroduce an auto price assessment service, albeit with some modifications. It was earlier removed by the portal due to an uproar from auto dealers.
The litigation battle currently sweeping through the Chinese used auto sector has widened again, as 58.com-backed used auto platform Guazi has brought a lawsuit against BitAuto-backed online and offline used auto supermarket Car King.
South Korean used-car marketplace EnCar.com has introduced an ad analysis service to help dealers formulate sales strategies based on big data from 1 million annual transactions.
Indian automobile marketplace Droom is planning to expand to seven Southeast Asian countries in 2019 --- five more than it initially announced last year.
Tencent has co-invested 200 million RMB ($29 million U.S.) in Chinese auto news and information provider YoucheYihou.com. Other investors included venture capital firm Plum Ventures, Ningbo Xinmei Asset Management, Shenzhen Oriental Fortune Capital, and Blueprint Innovation Investment Management.
Chinese used auto transaction and financing provider Uxin (NASDAQ: UXIN) has seen its market cap collapse once again, nullifying the gains made in a brief rally linked to the announcement of a partnership with e-commerce marketplace Taobao.
In the Czech Republic, Vltava Labe Media (VLM) has acquired the auto site Automodul.cz from Mafra media group, for an undisclosed sum.
Auto Trader Group plc and Cox Automotive have completed their deal to launch a wholesale joint venture for sales of cars from dealers to other dealers.