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Haoche51.com, a second-hand consumer to consumer (C2C) car trading website, signed a strategic cooperation agreement with Sunshine Insurance Group on July 9, in Beijing, hoping to make second-hand car insurance easier for buyers and sellers.
According to the agreement, Sunshine Insurance will offer lower prices for car insurance for second-hand cars traded on the site.
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Haoche51.com, a second-hand consumer to consumer (C2C) car trading website, signs a strategic cooperation agreement with Sunshine Insurance Group on July 9, in Beijing. [Photo provided to China Daily] |
The website's owner, Beijing Haoche Wuyou Information Technology Co Ltd, said this move will improve second-hand car trading services and bring more value and better experience to customers.
The website haoche51.com is a forerunner in adopting the C2C model to trading second-hand cars across the country. Zhu Yong, founder and COO of the company, said C2C is fair and transparent, allowing buyers and sellers to bargain face to face.
The C2C model cuts out traditional second-hand car dealers who usually buy second-hand cars and sell them to buyers by adding 15-20 percent to the final price as profit. "While the site lets the seller and buyer to decide the price and just charges a service fee of three percent of the price from buyer," said Zhu.
"We hope sellers will be able to sell their cars on our site at a price a little bit higher than selling to traditional car dealers, and meanwhile, buyers will be able to find a price a litter bit lower," he added.
The company also announced its performance report of the first half of 2015, saying 720 second-hand cars were traded on the site in June, with over half sold within a week and 70 percent within two weeks.
Volkswagen, Ford, and Peugeot were the top three brands traded on the site over the past year, but accounted for less than one fourth of the total, indicating a high diversity of brands.
It is the first time a second-hand car C2C online dealer released their business information.
Haoche51.com has been online since July 2014 and got its A round funding of $20 million in only four months. Now it has expanded to 16 cities and "it is expected to cover more than 30 cities by the end of 2015," said Zhu.
Ma Zhanpu, head of Sunshine Insurance's Internet and E-commerce Department, said at the ceremony, "Sunshine Insurance is delighted to cooperate with the innovation enterprises as Sunshine Insurance is also changing its tradition operations into a new business model in combination with Internet and finance."
