Analysis of Guazi used car competitors!

Guazi, Youxin, Renren, the names of these second-hand car trading platforms must be familiar to everyone. It may not be because you have ever had such needs, but because you have seen their advertisements.

1. Purpose of Competitive Product Analysis

• Analyze the top applications in the used car market to understand the positioning, product functions, product performance and product experience of used car products.
• Through multi-dimensional analysis of the product, we can find out the advantages and disadvantages of the product as well as areas for future improvement.

2. Industry Analysis

With the improvement of residents' income level, the popularization of automobile consumption and the wave of consumption upgrading, consumers' demand for replacement and additional purchase of automobiles has increased significantly, and the activity of the used car trading market has increased significantly. We can use the PEST model to look at the environment in which the used car industry is located.

2.1 Political factors

Since the promulgation of the "Eight National Policies", "activating the used car market" has become a national event, and the State Council has attached unprecedented importance to the circulation of used cars.

With the removal of the "three mountains" that restrict the development of used cars, consumer demand that has been overly suppressed by restrictions on migration will be quickly released; changes in the way value-added tax is collected will significantly reduce corporate operating costs and reconstruct the market structure; the temporary property registration system will return used cars to their commodity attributes and improve operating efficiency.

In the long run, the central government is still studying and formulating used car financial support policies, building shared information platforms, revising used car management measures, etc. The used car policy environment is undergoing major changes, and a rule-of-law business environment is gradually taking shape.

2.2 Economic factors

The transaction volume of China's used car market achieved an annual compound growth rate of more than 22% between 2011 and 2018. Although the expansion of the transaction volume base will lead to a decline in the growth rate, the used car transaction volume will continue to expand with the optimization of the industry structure, the accelerated penetration of e-commerce channels, the fading of the impact of migration restrictions and property rights systems, and the change in consumption concepts and cognition of car buyers.

Data source: iResearch

2.3 Social factors

For a long time, domestic used car transactions have been opaque and a trust mechanism between buyers and sellers could not be formed. However, the continuous advertising war on e-commerce platforms since 2015 has objectively improved users' acceptance and consumption awareness of used cars. In addition, with the relaxation of domestic restrictions on the relocation of used cars, a boom in the used car industry has gradually formed.

Secondly, taking the US market as a comparison, the ratio of new car sales to used car transaction volume has long been maintained above 1:2.3, while China's is less than 1:0.5. The ratio of used car transactions to car ownership in the United States is over 14%, while in China it is only around 5.7%. If the data from 2018 is used as a benchmark, China's used car industry still has at least twice the current growth potential.

Data source: iResearch

2.4 Technical factors

In the early stages of used car e-commerce, online advantages were used to help the sources of vehicles to aggregate and disseminate information; afterwards, e-commerce began to build a service system for dealers and use digital products to accelerate vehicle circulation, such as building its own logistics system. At the same time, we actively expand maintenance business and auto finance products to create a new profit pool that combines offline services.

The used car e-commerce industry can quickly match users' car purchasing needs, analyze vehicle condition data and rate them, and launch short videos or VR car viewing, etc., all of which promote the development of the used car industry.

3. Competitive product selection

After experiencing the repeated bombardment of advertisements on used car e-commerce platforms, when we still mention buying and selling used cars, we can still directly think of products such as Guazi Used Cars , Youxin Used Cars and Renren Car. According to iResearch data, in November 2020, under the automotive service/automotive e-commerce sub-category, the monthly number of independent devices of these three platforms still ranked at the top among many products. Therefore, we take these three products as the objects of this analysis.

Data source: iResearch data, November 2020

4. Competitive Product Analysis

4.1 Product Analysis

4.1.1 Product Introduction

By comparison we can find that:

• The three platforms were all established between 2011 and 2015, a period also known as the development period of the used car e-commerce industry. Many used car e-commerce platforms were launched during this period, and the industry as a whole showed a rapid development trend. In 2015, the huge advertising wars among Guazi, Uxin, Renrenche and other platforms triggered fierce competition and brought used car e-commerce platforms directly to people’s attention;
• Guazi Used Cars and Renrenche mainly adopt the C2C model, which aims to improve transaction transparency and thus improve transaction efficiency by reducing the information asymmetry between "sellers-platforms-buyers". Uxin mainly adopts the B2C model, which is also known as the "help-sell" model, that is, helping car dealers to conduct used car transactions through information display and customer acquisition. Although the three platforms have different business models, none of them are limited to a single model. Guazi and Renrenche have begun to enter the car dealer market, and Uxin also provides personal car sales services.
• Judging from the slogans of the three companies, Guazi’s original slogan “No middlemen to make a profit from the price difference” directly hits the user’s pain points. Nowadays, more emphasis is placed on being a leader in the used car industry and emphasizing industry status. Uxin Used Cars directly points out its special feature "National Purchase" and attracts users by differentiating its functions from other platforms. Renrenche’s slogan is “Let people buy, sell and use cars with confidence”, which directly provides the product usage scenario;
• Judging from the product introduction, the three major platforms all emphasize the transparency of vehicle conditions and after-sales warranty. This is because the opaque price of vehicle conditions and after-sales service are indeed the two major pain points of online transactions of used cars. From the product introduction, we can also get the main promotion direction of several platforms. Guazi emphasizes providing 259 professional inspections and providing comprehensive after-sales and financial services; Youxin emphasizes nationwide purchase and expert selection of good cars; Renrenche emphasizes professional car selling and buying services.

4.1.2 Financing

The operation of online used car platforms is an asset-intensive operation, and asset strength is an important foundation for the development of used car platforms. Although the competition in the used car market has shifted from advertising wars and price wars to more rational platform services and customer satisfaction, the operation of online used car trading platforms still focuses on brand marketing and invests heavily in advertising marketing.

In terms of financing, Guazi has the highest financing amount, reaching approximately US$3.5 billion. The second is Uxin, which raised approximately US$930 million. In June 2018, Uxin was listed on the Nasdaq, which means it will be able to raise more funds to improve its corporate services and strengthen its technological research and development efforts. Renrenche raised approximately US$600 million in financing, which is slightly inferior to the first two, but Renrenche received strategic investment from Didi Chuxing and received support in building an automobile transaction ecosystem platform.

4.1.3 Market Data

Data source: iResearch

Data source: iResearch

According to data from iResearch, in terms of the number of devices in November 2020, Guazi is in the leading position with 7.46 million units, Uxin is 1.71 million units, and Renrenche is 470,000 units. The ratio of the number of devices on the three platforms during the same period is approximately 15:3:1. Guazi has widened the gap with the other two companies and has gained a significant advantage.

Judging from the number of devices from January to November 2020, Guazi used cars grew by 30.42% from 5.72 million units in January to 7.46 million units in November; Uxin used cars grew by 1.18% from 1.69 million units in January to 1.71 million units in November; Renrenche grew by -28.79% from 660,000 units in January to 470,000 units in November. The number of devices among the three companies has been different since the beginning, and the gap has tended to widen over time.

Judging from the trend of the month-on-month growth in the number of devices, Guazi Used Car's month-on-month growth rate was relatively stable, and it was moving in the direction of growth overall; Renrenche's month-on-month growth rate fluctuated greatly, with multiple negative growths, which ultimately led to a decrease in the number of devices.

4.1.4 User Analysis

1) Age distribution

Data source: iResearch (Guazi Used Cars)

Data source: iResearch (Uxin Used Cars)

Data source: iResearch (Renrenche)

In terms of the age of the user population, the main users of Guazi used cars are 25-30 years old, accounting for 33.68%; the main users of Youxin used cars are 36-40 years old, accounting for 45.21%; the main users of Renrenche are 25-30 years old, accounting for 31.40%.

In general, the age distribution of users of Guazi and Renrenche is similar. The age of users of Renrenche is slightly younger, followed by Guazi, and the age of users of Youxin is slightly older. This may be because Renrenche and Guazi used car attracted more Internet young people, namely users aged 25-30, in their advertising and marketing promotions.

Later, Guazi Used Cars began to set up carefully selected direct sales stores and entered a new retail stage of online and offline integration, which attracted some older users aged 36-40. As a B2C platform, Uxin has accumulated a large number of users aged 36-40 who rely on the offline used car market.

However, the main users of the three major platforms are concentrated between the ages of 25 and 40. People in this age group should be at a stage of taking care of elderly parents and young children, from entering society to starting a family, and are burdened with mortgages, which puts them under relatively great pressure. However, due to work, family or consumption upgrades, the demand for cars is relatively strong. They are easy to accept new things, pay attention to cost-effectiveness, and have their own judgment on used cars and installment loans. Therefore, people have a higher acceptance of online used car platforms and are willing to buy and sell cars on the platforms.

2) Gender distribution

Data source: iResearch (Guazi Used Cars)

Data source: iResearch (Uxin Used Cars)

Data source: iResearch (Renrenche)

Gender distribution is one of the important characteristics of a product, and the habits of male and female users are very different. From the above figure, we can see that the three platforms all have males as their main user group. The number of male users on Guazi is about 3.3 times that of female users, and the number of male users on Youxin and Renrenche is about 1.8 times that of female users. This is because men are more interested in or have a greater demand for cars than women, and are more willing to learn about cars, which leads to male users dominating the market.

3) Geographical distribution

Data source: iResearch (Guazi Used Cars)

Data source: iResearch (Uxin Used Cars)

Data source: iResearch (Renrenche)

From the perspective of geographical distribution, the user distribution of the three platforms is different, but they are mainly concentrated in Guangdong, Zhejiang, Jiangsu, Shandong and other places.

4.2 Product structure analysis

1) Guazi used car product structure diagram

• In terms of product information architecture, it is divided into five major modules: [Home], [Buy a Car], [Sell a Car], [News], and [My].
• [Homepage] consists of three parts: tool entrance, quick car selection entrance and vehicle recommendation feed flow. At the tool entrance, Guazi Used Cars provides the most abundant content, including vehicle labels, valuations, group purchases, car purchasing procedures, Guazi Encyclopedia, car maintenance, gas discounts, etc., opening up traffic entrances for its own car maintenance mall and Maodou New Cars. The quick car selection entrance provides a wealth of vehicle labels to match user needs to the greatest extent possible, thereby generating user interest and facilitating transactions. The vehicle recommendation feed flow includes recommendations, official subsidies and live broadcasts. It can be seen that Guazi Used Cars has also begun to try the live broadcast business of selling cars.
• [Buy a Car] Displays the vehicle feed flow, and Guazi Second-hand Car gives rich labels, such as carefully selected cars, 0 service fee, nearly new cars, limited-time flash sales and special price areas, etc. These should also be the special discounts launched by Guazi.
• The [Sell Car] function is to estimate the price and make an appointment to sell a car. For users who have a clear purpose of selling a car, they can directly locate this function.
• [Message] The message module promotes the entire business transaction, including price reduction notifications, sold notifications, vehicle recommendations, order notifications, etc., so it forms a separate module.
• The biggest difference between [My] Guazi Used Car and the other two products is that the buyer mode and the seller mode can be switched. The two modes are relatively independent, separating buying and selling cars. The content carried by the page after switching is more in line with the mode. Categorize user behaviors in the product. These actions reflect the user's interest in the vehicle and provide an entry point for the user to re-enter the product, such as collection, comparison, subscription, browsing history, bargaining history, etc.

2) Uxin used car product structure diagram

• The product information architecture of Renrenche consists of four modules: [Home], [Sell Cars], [News], [Likes], and [My].
• [Homepage] consists of starting car selection, popular searches, recent views and promotional pictures, etc. You can enter the car source page by clicking on it. This is friendly to users who have clear car buying goals. Users can choose a car according to their preferences when entering the product, and the product can also leave more pages to display other important information, such as Uxin’s brand characteristics and advantages. However, if the vehicle source page is treated as a secondary page, users who just want to enter the product to browse the vehicles may not be able to find the vehicle source entrance.
• 【Selling a Car】Provides valuation and car selling appointment functions.
• [Message] Displays all message notifications generated in the product.
• [Like] The cars that you have marked as liked and inquired about are displayed separately in this module. The separate module allows users to quickly find the cars they are interested in, which is a bit like the shopping cart in shopping software, making it easier for users to convert in the future.
• 【My】 provides function entrance.

3) Renrenche product structure diagram

• The product information architecture of Renrenche consists of four modules: [Home], [Buy a Car], [Sell a Car], and [My].
• [Homepage] is mainly composed of car buying and selling entrances, vehicle labels and vehicle recommendations, and conducts business around buying and selling cars, which is also the main component of e-commerce used cars.
• 【Buy a Car】Displays the vehicle feed and displays rich vehicle source information.
• [Selling a Car] Provides valuation and car selling appointment functions, demonstrates the advantages of selling a car on Renrenche, and attracts users to sell their cars here.
• [My] provides a function entrance and also provides an entrance for recruiting partners for Renrenche. It can be seen that Renrenche is still in the expansion stage.

4) Summary

Judging from the bottom navigation bar, the structures of Guazi Used Car and Renren Car are similar, both including home page, buy car, sell car and my modules. Uxin Used Cars has placed the car-buying entrance on its homepage and added a "Like" module to display vehicles that users have marked as liked and inquired about. In general, Guazi Used Cars has more comprehensive product functions and richer content, and it also offers the most complex experience among the three. The information structure design of Uxin Used Cars and Renrenche revolves around core functions, without expanding other peripheral businesses, and the interface is relatively simple.

The used car business mainly revolves around buying and selling cars, which are the core processes in the closed loop of used car trading business. Therefore, the products are also developed around these two modules. By comparing the three platforms, it is not difficult to find that their core functions are similar, but the specific content display methods are different, but this has little impact on usage. The design and business model of the main vehicle interface can truly determine whether users stay or leave.

4.3 Main Pages and Functional Analysis

4.3.1 Home Page

Guazi Used Car (left) Youxin Used Car (right)

Renren Car

• Guazi Used Cars: The UI is mainly green. There is a search bar at the top, a banner image and a navigation module in the middle, which is somewhat similar to the Taobao homepage. At the bottom of the page is a used car information feed. The homepage provides car selection entrances in multiple dimensions such as price, brand, activities, recommendations and uses, allowing users to directly enter the corresponding page according to their own needs. In an environment where live streaming is prevalent, the timely addition of the live streaming function has captured user needs and consolidated its market position.
• Uxin Used Cars: UI is mainly orange-red. Among these three products, Uxin Used Cars’ homepage is the simplest. From top to bottom, they are banner, car selection entrance, popular searches, best-selling list, recent views and advantages description. Reserve the center of the homepage for the car selection entrance so that users with clear goals can directly filter. However, the entrances to popular searches and best-selling lists are not obvious enough, and there are no more dimensional car selection entrances. There is no car source page provided on the first-level page. Therefore, it is difficult for users who are not clear about their car buying goals or just want to browse vehicles to find the entrance.
• Renrenche: The UI is mainly orange-red. The layout of the homepage is similar to that of Guazi Used Cars. From top to bottom, there is a search box, banner, multiple car selection entrances, vehicle list and platform description. Below the banner, there are large label entrances for buying and selling cars, which guide users directly based on their fundamental needs. Multiple car selection entrances are also provided under the modules of "Daily Car Recommendations", "Great Value Cars" and "New Cars", but there is no visual hierarchy and the priority of vehicle recommendations cannot be clearly reflected.

In general, the three products all generate business around the two basic functions of buying and selling cars. From my experience, I found that Guazi Used Cars provides the most abundant content. In addition to providing entrances for buying and selling cars, it also provides entrances for Maodou New Cars, checking transactions, car maintenance mall, Guazi Encyclopedia, best-selling rankings, etc., allowing users to quickly access corresponding services according to their needs. The homepage of Youxin Used Cars is the simplest, providing only an entrance for buying a car. Renrenche provides installment purchase, valuation and transaction inquiry services based on car buying and selling.

4.3.2 Buying a car

Guazi used car (left), Youxin used car (center), Renren car (right)

The information structure of the three products on the car purchase page is similar. The vehicle source information is displayed and filtering conditions are provided so that users can quickly find the vehicle. Vehicle tags are provided so that users can get a general understanding of the vehicle without entering the secondary page, which improves the user's car buying experience.

• In terms of screening conditions, Guazi Used Cars and Renrenche not only provide regular screening, but also provide some special tags for quick screening to match user needs as much as possible. What is more interesting is that the regional screening of Guazi and Youxin is based on the place of purchase of the car, while Renrenche screens the location of the vehicle. This should be caused by the business model. Guazi and Youxin have both launched nationwide purchasing services, so they are not sensitive to the location of the vehicles, and the vehicles can be arrived by logistics. Renrenche has not yet launched this model, so it is trying to promote local transactions as much as possible.
• From a functional perspective, all three products have the collection function, but the function names are different. We will analyze this function later. The functions of Guazi Used Cars and Renren Car are similar, both have vehicle display switching, customer service consultation and subscription functions. For Youxin, the functions of "Help me find a car" and "Buyer Show" will appear during the sliding process. "Help me find a car" can accurately recommend vehicles to users based on their needs, which is similar to a subscription function. "Buyer Show" can give other consumers more confidence through buyer feedback, encourage hesitant users to buy cars immediately, and improve purchase conversion rate.
• Judging from the vehicle labels, the three major platforms have launched special operation activities in order to attract users. Guazi used car mainly promotes Guazi strict selection and 10 billion car purchase subsidy activities; Youxin used car offers special services such as one price, no service fee, and 3-day free trial; Renrenche also launched the strict selection festival car purchase subsidy activity. Guazi and Youxin have more activities than Renrenche.

4.3.3 Vehicle Details

1) Guazi Used Cars

• Guazi Used Cars has different vehicle details pages depending on its business model, such as strict selection of good cars, direct sales from merchants, special price areas, etc. Here we will analyze the types of carefully selected cars recommended by Guazi Used Cars. The vehicle details page of the carefully selected car mode comprehensively displays the vehicle situation from aspects such as vehicle price, price installment, vehicle file, vehicle inspection, three guarantees service, exclusive customer service and everyone's comments.
• In terms of price, the price advantage of the vehicle is highlighted by comparing it with the original price and the price of a new car. A 10% down payment is offered in installments to attract users. Vehicle inspection is an area of ​​great concern to users, so we focus on 259 inspections and highlight the professionalism of vehicle inspectors. Inspection items and defects are displayed in the form of charts and graphs. Users can see the vehicle condition at a glance, thereby improving transparency of vehicle conditions, reducing car purchase risks, and alleviating user concerns.
• Compared with the pages of the other two products, the page of Guazi Used Cars carries the most content. In addition to providing general vehicle information, it also provides information portals such as group chat, online car discussions, vehicle rankings, carefully selected direct sales stores, and vehicle recommendations. At the same time, it provides functions such as sharing, adding to shopping cart, comparison, price reduction notification, online consultation, and viewing the real car. Rich content also leads to duplication of content modules. For example, add to cart, price reduction notification, online consultation, three-guarantee service introduction, etc. appear repeatedly on the same page. Although repetition can deepen the user's impression and make it easier for users to enter, the page looks redundant.

2) Uxin Used Cars

• The vehicle details page of Youxin used cars is relatively simple and intuitive, and only displays vehicle-related information. The page content can be divided into modules such as price information, reasons for recommendation, basic information, configuration highlights, questions for everyone, and vehicle inspection report. Provides sharing, liking, messaging, comparison, vehicle condition consultation, telephone consultation and online consultation functions.
• The vehicle details page can display price, installment, vehicle condition, logistics, transfer and guarantee information on one screen, allowing users to understand the overall cost and condition of the vehicle as soon as they enter. The reasons for recommendation and configuration highlights directly demonstrate the advantages of the vehicle and attract user attention. The Ask Everyone module provides an entry point for interactive communication, allowing users to ask questions and answer them. In the vehicle condition inspection report, the professionalism of the report is mainly displayed by highlighting its compliance with the international ISO9001 certification standards. Uxin also provides hundreds of tests, but the number of items on each module is not as visually impactful as the total number of items. Uxin’s used car inspection report is the most detailed. In addition to providing pictures, it also provides an inspection video of about half an hour.
• Compared with the other two products, there are no price reduction notifications, bargaining and car viewing appointment functions, but the consultation function provides more entrances, and subsequent optimization can start from these aspects.

3) Renrenche

• The content can be divided into modules such as price information, parameter configuration, service guarantee, inspection report, real vehicle reviews, frequently asked questions, picture collection, vehicle notes and similar vehicle recommendations. It provides functions such as intended price, sharing, comparison, collection, price reduction notification, car viewing appointment, consultation, etc.
• Compared with the other two products, it provides unique features such as real car reviews, intended prices, vehicle notes, price reduction notifications and bargaining. Price reduction notifications and bargaining are input in the form of sliders, providing suggested prices and giving users the psychological suggestion that they can buy a good car at a low price. However, in the inspection report module, Renrenche did not provide any image description to tell users that this was an initial inspection of the vehicle condition and that it would be re-inspected later, which made people feel that the inspection report was not professional enough. In terms of consultation, there is no online customer service, only a hotline number is provided, which is weaker than the other two models.

4) Summary

By comparing the content structure and functions of the car purchase pages of the three products, we can find that Guazi Used Car provides the most content and functions; Youxin Used Car's page is the most concise; Renren Car is in between the two, and the experience of some core functions needs to be improved.

The car purchasing processes of Guazi, Youxin and Renrenche are similar, including online car selection, car viewing accompaniment and transaction transfer. According to user surveys, difficulty in distinguishing authenticity, lack of standards, and lack of integrity are the three major concerns of consumers when purchasing used cars. Therefore, used car platforms provide a variety of after-sales guarantees for used cars. Guazi.com provides three guarantees of service, Youxin.com offers a three-day free trial, one-year money back guarantee and nationwide warranty, and Renrenche.com cooperates with Pacific Property Insurance to launch services such as a one-year 20,000-kilometer warranty to reduce users' concerns about quality.

4.3.4 Collection

The value of collection lies in the rapid reproduction and personalized organization of information, which improves the efficiency of product use and promotes the formation of transactions. The usage scenario here is generally that I am very interested in this car and it meets my requirements, so I will add this car to my collection. When I have made my selection or want to see the vehicles I was interested in before, I can directly view it in the collection. This is a common function of the three products. Although the displayed names are different, the functional uses are the same.

Guazi used car (left), Youxin used car (center), Renren car (right)

• Guazi Used Cars: The shopping cart entrance is for buying a car, vehicle details and my page. The shopping cart page uses a progress bar to display the vehicle’s cost-effectiveness, condition, appearance, age and mileage, but the presentation is not as clear as that of Uxin Used Cars. Guazi Used Cars provides functions for comparison, finding similarities and making appointments with consultants. There are a lot of information parameters for vehicles, so it is very necessary to provide a comparison function to understand the parameter differences between multiple vehicles horizontally. The Find Similar function is used to display similar car models, which is a bit like Find Similar on Taobao, but after trying it many times, there are no similar cars available. Being interrupted many times during the browsing process will reduce the desire to buy. Here you can expand the recommended range of similar cars and increase the success rate of finding similar ones.
• Uxin Used Cars: It directly provides the first-level navigation page "Like", which shows the importance of this function. The comfort, fuel consumption, vehicle condition, mileage, three-year value retention rate, vehicle age, power and space of each vehicle are also displayed in a graphical way, allowing users to clearly see the advantages and disadvantages of each vehicle. Provide comparison and online consultation methods to help users learn more about the vehicle.
• Renrenche: Compared with the other two products, Renrenche only displays vehicle information on the page for following vehicles. Users who want to know more about the vehicle can only click on the details page to view it. Fortunately, a note function is provided, allowing users to add labels to vehicles. Renrenche only provides the function of making an appointment to view the car. The comparison function can only be operated by clicking on the details page. It only provides comparison between two cars. The comparison function cannot hide the similarities, and the experience is not as good as the previous two products.

4.3.5 Selling a car

• Guazi Used Cars: It provides valuation and high-price car selling functions. To sell a car, you need to enter the car model, license plate time, mileage, appointment time and location. The page showcases Guazi’s advantages in selling cars, namely “higher prices”, “quick payment” and “professional service”. By displaying the current number of cars on sale, the number of cars sold in the past six months, and the sales trend in the past six months, the willingness of car owners to sell their cars can be increased.
• Uxin Used Cars: When selling a car, you need to enter the city where the car is sold, the vehicle license plate, the model, the registration time, the mileage, and the vehicle label. You can add an additional vehicle label to understand the current condition of the vehicle. "High price", "fast sale" and "transparent transaction" are the advantages that Uxin focuses on displaying. At the same time, display recently sold vehicles to increase persuasiveness.
• Renrenche: Guide users step by step to fill in car selling information, reducing anxiety when filling out the form. Renrenche has launched a guaranteed sale service, highlighting the advantages of "getting money on the same day", "selling the car at a high price" and "saving time and worry", eliminating users' worries about selling their cars.

Summary: When selling a car, car owners tend to focus on the convenience, timeliness, reliability of the sales channel and the price of the car. Therefore, platforms are highlighting their advantages in these aspects and using high prices, fast sales and good services to attract users. The information that needs to be filled in when selling a car is similar for the three products, but the car selling process and model are different. The car selling processes of Guazi and Renrenche are similar, including online reservations, free evaluations, listing for sale, and providing guaranteed sales services. The Uxin used car process is to make an appointment to sell the car, match the buyer, conduct the transaction at the door, and complete the transaction. Guazi and Renrenche will participate in the entire process of selling cars and provide evaluation services; while Youxin uses system matching to match buyers and sellers to complete transactions.

V. Conclusion

From the product analysis and experience of Guazi, Uxin and Renrenche, Guazi has the richest functions and product content, and the overall experience is better, but some pages are more complicated; Uxin's information structure is unique; Renrenche has a clearer overall structure, but the experience would be better if some functions could be improved. The three products have similarities in content and functional design, but also have their own product features.

With its high efficiency and transparency, used car e-commerce strives to solve most of the pain points in traditional used car transactions, such as vehicle condition, opaque prices, and difficulty in matching vehicle models with demand, connecting buyers and sellers, and providing both parties with more convenience and more profit space. However, there has been a lot of negative news online regarding vehicle sources, services, financial loans and after-sales services. While expanding the market through marketing, used car platforms also need to improve their professional capabilities, enhance transparency and strive to meet user expectations.

If a product wants to survive in a fiercely competitive industry, it must establish a good image in the minds of consumers and build a big brand that consumers can trust.

Products are becoming increasingly homogenized. Guazi, Uxin and Renrenche have similarities in their information structure, page content and even business model. More differences are reflected in operational activities and services, so the asset requirements for the platform are relatively high.

The online advantages of used car e-commerce enable it to self-operate or participate in auto consumer finance, auto insurance, auto maintenance and other after-market businesses. In future planning, used car platforms can use used car transactions as basic services, extend their business to the downstream links of the entire automotive industry, and consolidate their advantages with a differentiated strategy.

In addition, how to integrate offline resources, improve the overall service level of the industry, provide a series of extended services, and build an ecological closed loop in the future can also become the core competitiveness of the development of e-commerce used cars.

Author: Koala

Source: Koala