Online auto platform Chejiahao to tap social media influencers, funding

Chejiahao, an online information hub targeted at auto buyers, announced on Thursday to strengthen its IP development by attracting social media influencers and securing funds from various sources.

The online platform, operated under Autohome - a secondhand car dealing website also known as China’s Carfax, now has 27 bloggers posting information about car maintenance, remaking, and secondhand auto deals.

Lu Min, chairman of Autohome, said that the platform helps attract traffic to dealerships. As the secondhand car market still lacks sufficient inspection and transactions systems, the information Chejiahao offers is appealing to auto buyers.

“We are aiming at a better integration between online and offline activities to generate more sales,” said Lu.

Earlier this year, China’s central government lifted restrictions on used car sales between provinces, enhancing business opportunities in the secondhand auto market.

According to a report by Bloomberg, China is projected to become the world’s largest second hand auto market with expected sales of 20 million yuan by 2020.

Many consumers now believe that many used cars are of good quality and cost less to buy and use.

In 2017, the used car sales grew by 19.3 percent, compared to 3.2 percent for new cars sales, the report said.

Businesses have certainly been aware of the trend. Both internet used-car services and investors are proliferating.

Data from the report showed that online used-car transactions reached 1.3 million in 2017. Online platforms have attracted at least $225 million investment this June alone.

Ma Shuyuan contributed to the story.