New | E-shopping discount cars: China’s luxury auto dealer and Alibaba to offer pricey wheels at online sale prices
Yongda teams up with Alibaba's Tmall to expand offerings with Chevrolet Epicas as the first to be available and at some 40 per cent less than their recommended retail price
Yongda, a leading Chinese luxury auto service provider listed in Hong Kong, will sell cars online through Alibaba’s Tmall platform, a move that comes as the mainland fever for pricey wheels cools.
The two giants will allow customers across the nation to buy a car at a single price and pick it up at the nearest Yongda shop, the two companies announced on Wednesday.
Alibaba had 80 million online customers in a financial position to buy a car, while Yongda, also known as Yonda, had about 200 outlets selling more than 20 brands across the mainland, according to the companies. Customers can also have after-purchase services at the shop where they pick up the car.
Wang Zhigao, Yongda’s deputy board chairman, said online sales were a key innovation for the company as the car industry moves to embrace the internet.
Yongda, which specialises in top brands like Porsche, Land Rover and Cadillac, saw sales grow as much as 30 per cent annually for the past couple of years.
Despite a general slowdown of luxury car sales amid the central authorities’ anti-corruption campaign and the gyrations of the stock market, Wang was confident sales of pricier models will grow 10 per cent annually over the coming decade. He expects 15 per cent of sales to take place online.