China second-hand car is venture
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6 years ago, many people think that China used car network is a madman, but now the facts have proved that China used car is a Chinese venture capital industry's money-making machines and models.
Second-hand car market in China for the good, used car network in China one after another to invest in this market segment. Following the used car information service providers believe the media by the China Shenzhen Poly Used Car in the first round of venture capital $ 2,000,000, with its acquisition of used cars and value-added services for the main business of Shanghai Automotive Safety Mentor Consulting Co., Ltd., in the first round of funding China also received second-hand car in the network and SIG Asia Investment Fund $ 5,000,000 business venture.
Used Car in China, it seems, the Chinese growth rate of second-hand car market is far more than new car market. In addition to China's used car network, many VCs are also a number of second-hand car market in the segments given attention, such as the second car Qiming Venture Partners network, and other investments, net 273 second-hand cars are also in close contact with the venture capital firm. In addition to these professional second-hand car business website, other websites Chinacars cars, trucks League club, easy car, love cards also have access to VC investment.
On Mentor was established in May 2007, is a professional used car purchase and value-added service providers to carry out regular chain model used car business and related value-added professional services acquisition.
On Mentor founder of dry Yuanqing told this reporter, according to 2006 official statistics, China's second-hand car market size of nearly 2 million, the average transaction price of about 5 million. According to this estimate, China's used car market value over one hundred billion. More importantly, in this industry, the largest single company sold 5,000 vehicles in the following, which means that the industry scale, standardization has not yet appeared.
Early trading companies operating in Japan, the dry element Qing, commercial war experience of many operators in the knowledge of the Japanese used car business is how to successfully conduct business, like Gulliver, Rabbit, apple, etc., business idea began to grow. Fortunately, the security establishment of the United States has just half way, not only finding the "perfect partner" - the original one in the Shanghai Automotive Group general manager to join Kan Shao Jun, and financing has been successfully completed. "Now the funding in place, we are opening up new outlets, entered the stage of rapid expansion." He said.
"Now, we only store sales increases every month can be 20% to 30%. We are in the 4S stores with the traditional grab the runway, used cars, and not very good at their fields." An Mentor Minhang straight Lei Feng camp store manager told reporters.
Car service
Last June, UAA (United Automobile Club) completed the second round of financing $ 13,000,000, the investors include KPCB China Fund and the United States, the largest integrated automotive service provider CCAS company. Back in July 2006, UAA won the Lenovo investment and investment in the first phase of $ 8,000,000 Goodway venture capital, and in February won the first round of last year, an additional investment of $ 2,000,000.
UAA inception, appeared in the "most investment value in China Venture 50" and "100 Fast Growing Companies." UAA United Automobile Club president and founder of the Lu Zhengyao believe that this area in the automotive after-sales service, speed is everything. As of April 2007, UAA has more than 1.5 million members, partners, the number of over 17,000. Despite the company's history is not long, but after the completion of the second round of financing, it will have a called "luxury line" of the board - from the CCAS President Mike Saxton, KPCB China and the founding partner Tina executive director of Legend Capital Erhai Liu and co-existing management team composed of UAA.
Legend Capital Managing Director Mr. Liu Erhai UAA investment project leader, he told this reporter, in their investment decision on the UAA, he had secretly visited UAA some of its partners, found a very telling detail : UAA a partner in Beijing - a company called "even hand" of the maintenance company, by the People's Insurance Company of qualification, through the cooperation with the UAA, one-third of the company to bring in clients. The UAA has thousands of partners such as the integration of the forces who has been reflected in the UAA.
KPCB China is a founding partner of Tina, told reporters that as China's economic development, auto service areas will have a very impressive prospect. UAA is the fastest growing companies in this field, in just two years and three months to grow into China's largest automotive service provider.
