Benzinga | Oct 22, 2020 07:45AM EDT

Uxin Launches Proprietary Used Car Rating System

BEIJING, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Uxin Limited ("Uxin" or the "Company") (NASDAQ:UXIN), a leading nationwide online used car dealer in China, recently launched a proprietary rating system that assesses and determines a used car's condition, provides greater transparency to facilitate the decision-making process for customers and improves the overall customer experience.

Uxin has been dedicated to offering customers great value-for-money used cars and a best-in-class car buying experience by continuously upgrading its online products and services. After the Company transformed and migrated its entire transaction process online in April of this year, it set out to develop a used car rating system in order to further improve the buying experience. By leveraging its big data analytics capabilities, Uxin built a proprietary car rating system by analyzing the massive used car-related data that has been aggregated by its platform over the years, such as car age, mileage, exterior and interior condition, driving and operating conditions, and the correlation between such metrics and pricing. Now, when customers search for used cars on Uxin's mobile application or website, they will find a "like-new" score placed on each car that delivers a straightforward reading of the car's condition and enables the easy comparison of different used cars on a customer's short list.

In addition to the rating system, Uxin also created a team of vehicle experts to handpick used cars from a national pool. On the profile page of all cars, there is also a recommendation that has been compiled by Uxin's professionals to specify why the car would be worth buying.