Uxin Upgrades Industry-leading Used Car Warranty Program
September 12 2018 - 6:02AM
Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), the largest
used car e-commerce platform in China, today announced that it has
introduced significant upgrades to its warranty program for Uxin
Certified vehicles. The enhanced coverage gives greater confidence
to consumers that purchase eligible used vehicles on Uxin’s market
leading 2C platform.
Every vehicle on Uxin’s platform is vetted
through a more than 300-point vehicle inspection program, which
provides an accurate assessment of the vehicle’s condition.
Vehicles that have not been involved in major accidents and meet
Uxin’s stringent quality standards receive the Uxin Certified
accreditation and the industry-leading warranty.
“Buying a used car comes down to a matter of
trust, and Uxin is committed to leveraging technology to bridge the
trust gap between consumers and dealers,” said Mr. Kun Dai,
Founder, Chairman and Chief Executive Officer of Uxin. “This
enhanced warranty directly addresses this challenge and gives
consumers peace of mind and the confidence to buy used vehicles on
our platform.”
“With our proprietary car inspection technology
and industry-leading warranty program, we continue to optimize
consumers’ used car buying experience and minimize transaction
friction. These transformative initiatives are bringing used car
e-commerce to even more consumers as well as stimulating the growth
of the entire used car industry. We will continue to leverage our
digital and AI capabilities to bring more innovative products and
services to market and solve the pain points that are key to
unlocking growth potential,” added Mr. Dai.
The enhanced warranty program offers
industry-leading coverage for buyers of Uxin Certified used
vehicles on Uxin’s 2C platform. The key features of the enhanced
warranty program include:
- Warranty scope has been expanded to
cover 15 major components of the car. In addition to previously
covered items such as the engine and the gear box, the new warranty
also covers the differential system, the transfer case system, the
lubrication system, the electronic control system and the safety
system.
- Compensation has been increased to
up to 100% compensation for claims made within one year or up to
20,000km.
- Eligible vehicles can be repaired
at service centers in more than 300 cities across China, ensuring
that consumers are covered wherever they travel within the
country.
- The standard 30-day return policy
and the 3-day no-questions-asked return policy for cars sold
cross-regionally and tagged as 'super value', remain
unchanged.
Uxin has a history of introducing
industry-leading warranty coverage to vehicles sold on its
platform. In 2015, Uxin was the first company to commit to allowing
returns within 15 days for vehicles that received a “no major
accident” accreditation, which certified that the vehicles had not
been involved in a major accident, fire or flood. In 2016, the
Company introduced the Uxin Certified accreditation for cars that
met stringent quality standards and offered a one-year or 20,000km
warranty. The initiatives were widely recognized as raising quality
standards in the industry.
About Uxin
Uxin Limited (Nasdaq: UXIN) is the largest used
car e-commerce platform in China. Uxin’s mission is to enable
people to buy the car of their choice, no matter where they are
located or what their budget is. Uxin enables consumers and dealers
to buy and sell cars through an innovative integrated online and
offline platform that addresses each step of the transaction and
covers the entire value chain. Its online presence is bolstered by
an offline network of more than 670 service centers in over 270
cities throughout China.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as “will,” “expects,” “anticipates,”
“future,” “intends,” “plans,” “believes,” “estimates” and similar
statements. Statements that are not historical facts, including
statements about Uxin’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement. Further information regarding these and
other risks is included in Uxin’s filings with the SEC. All
information provided in this press release is as of the date of
this press release, and Uxin does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
Media inquiries:
Yi-Ke HongBrunswick GroupTel: +86 10
5960-8600Uxin@brunswickgroup.com
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