SCOTTSDALE, Ariz., Nov. 8, 2023 /PRNewswire/ -- TaoCheChe, a leading B2C used car e-commerce platform, demonstrated its intelligent digital solutions, including its groundbreaking TaoCheChe Cooperate Network (TCN), at the Used Car Week 2023 event. Its attendance marked the first time the company has exhibited internationally.
"We are excited to be part of and to sponsor one of the industry's most esteemed events," said Dong Jiang, Chief Executive Officer of TaoCheChe. "As the only Chinese company to ever attend Used Car Week, our debut on the international stage showcases our steadfast dedication to providing the highest value and the most dependable service to our customers. Using AI and big data to advance our unwavering commitment to innovation and excellence, we aim to continually raise the bar in customer satisfaction."
China is the world's fastest-growing used car market. The country has over 330 million car owners and a used car market that surpasses 200 billion USD. Projections indicate a 10% Compound Annual Growth Rate (CAGR) in used vehicle transaction volume between 2016 through 2025. As a leading B2C used car e-commerce platform in China, TaoCheChe is more than capable of seizing this growing market opportunity.
Currently, TaoCheChe owns and operates more than 70 store locations across major Chinese cities. Its cumulative vehicle transaction volume has surpassed 400,000 units, achieving a Gross Merchandise Volume (GMV) exceeding 5.5 billion USD. TaoCheChe's innovative solutions and business model has earned funding from Tencent, JD.com, Yixin Group and other prestigious investors.
Vehicle reliability is a top concern in China's used car market. To uphold its quality promise, TaoCheChe has developed a digitized quality assurance system that checks every vehicle at 335 inspection points. Despite its thoroughness, the system can produce detailed inspection reports in just 30 minutes. Moreover, every vehicle purchase comes standard with a one-year or 30,000-kilometer free limited warranty.
From online searches to offline transactions, transparency and reliability extend to every part of the customer experience. TaoCheChe has generated massive online user traffic by collaborating with Bitauto, Tencent and other major vertical automobile media platforms, resulting in exceptional exposure and new client acquisition. Additionally, one-on-one professional consultations, test drive sessions, standardized vehicle delivery and after-sales support help every customer in making the most informed decisions. The comprehensive digital and in-person services, coupled with a vast resource library, have garnered TaoCheChe a substantial customer base.
To offer choice for consumers, TaoCheChe systematically sources high-quality vehicles from various channels. A majority of the vehicles are procured from independent vehicle owners, while others are from an extensive partner network consisting of over 40 leading OEMs and more than 10,000 dealers. These combined channels maintain a stable vehicle supply chain, guaranteeing a consistent, diverse and high-quality inventory at all times.
TaoCheChe has revolutionized the used car market with its self-developed TaoCheChe Cooperate Network (TCN). By integrating cutting-edge AI and big data, TCN seamlessly connects buyers, vehicles, and points of sale through a comprehensive online and offline service chain. The network divides the used car transactions into 24 stages with eight distinct roles. Each stage follows standard management procedures to reduce reliance on human intervention, thereby enhancing security, efficiency and streamlining every phase of the transaction cycle. This groundbreaking innovation has enabled TaoCheChe to increase the standardization of the previously convoluted used car sales process while ensuring competitive pricing and customer satisfaction.
Technology is the driving force behind TaoCheChe's innovations. Through collaborating with esteemed technology partners, the company has integrated AI and big data into inspection，pricing, livestreaming and customer service to optimize service quality, improve efficiency and significantly lower operational costs. To provide even greater context for customers, TaoCheChe has pioneered the industry's first large-scale AI model that automatically generates highly customized vehicle introduction videos in under five minutes.
TaoCheChe is honored to be the first Chinese company to exhibit at Used Car Week.
About TaoCheChe
Founded in 2018, TaoCheChe is a professional B2C used car e-commerce platform enabling consumers to purchase second-hand cars with confidence. The company has standardized used car transactions through its innovative TaoCheChe Cooperate Network (TCN) collaborative operations system, restoring trust, transparency and reliability in the aftermarket vehicles industry. And by integrating big data and artificial intelligence algorithms, TaoCheChe has implemented a digitized system for used car transactions, offering consumers high-quality, rigorously tested vehicles backed by extensive aftermarket services.
TaoCheChe is collectively funded by strategic investors such as Tencent, JD.com and Yixin Group. Learn more at https://www.TaoCheChe.com/.
