Recently, the Renren and the melons used cars have received hundreds of millions of dollars in financing. However, the two said that the big financing is not big, it does not seem to bring a big turn to the tepid second-hand car e-commerce market. Experts believe that if second-hand car e-commerce can not get rid of the deadlock of constant "burning money", it is difficult to get rid of the loss situation.
On September 13, the used car of the melon seeds announced that the total amount of the A round of financing exceeded 250 million US dollars. A few days ago, on September 5th, Renren announced the completion of the D round of financing of 150 million US dollars. Two consecutive second-hand car e-commerce financing has aroused strong concern in the industry. Is it necessary for second-hand car e-commerce to get out of the capital winter?
Capital is still cold
2015 is the year of concentrated outbreaks of used car e-commerce. However, in a short period of time, more than a dozen used car e-commerce companies have fallen. The collapse of capital and the closure of the entrepreneurial window have brought the once-hot second-hand car e-commerce into the cold winter of capital.
“Although the mechanized and used second-hand car e-commerce companies have recently obtained financing, the second-hand car e-commerce has not really gone out of the capital winter.†Wang Ningyuan, a researcher in the Internet industry of CIC, admitted in an interview with the reporter of China Sankei Shimbun.
Wang Ningyuan also believes that the contradiction between supply and demand in the used car e-commerce market is prominent. The scale and market demand of used cars are insufficient. At present, the imbalance between supply and demand, the mode is not mature, and the labor cost is high. The enterprises that can obtain capital favor are still only a few.
Shen Rongxiang, vice president of the China Automobile Dealers Association, also said that there is no such thing as the "capital winter" has passed. In the future, investment in used car e-commerce and even the entire after-market will be more and more cautious.
Since the capital winter has not left, what areas do investors look at in these two used car e-commerce companies?
According to the information obtained by the reporters of China Sankei Shimbun from the Renren car, Chen Guojun, one of the main investors in the D-round financing of Renren, said that he highly values ​​its rich traffic operation capability in the used car field. It is superior to peers in transaction efficiency, and it has strong scalability in the future in terms of finance and insurance.
Yao Shanmin of Sequoia Capital said that after the second-hand car industry burned money last year, capital should return to rationality and return to value investment. Business layout and input-output ratio are the core of our concern in the future.
Wang Ningyuan also believes that if second-hand car e-commerce companies extend their business to finance, insurance, maintenance and other fields, they will generate great value. These areas have higher consumption frequency and more profit points. Investors value second-hand car power. These extension businesses of the business.
Compared with the past, the downturn in the used car industry has caused investors' attention to shift. Some analysts pointed out that in the past, venture capitalists were more concerned about the concept of second-hand car e-commerce in the concept, flow and other aspects; limited resources constrained the development of the second-hand car e-commerce industry to achieve blowout. After two or three years of development, capital pays more attention to the profitability of used car e-commerce and the flow of books.
Adjust strategic layout
According to the statistics of Analysys think tank, the trading volume of China's used car e-commerce platform in 2015 was 1.012 million, although it increased by 67.2% compared with the same period of last year, but compared with the scale of 1.7 billion vehicles in the entire used car trading market in 2015, The share of used car e-commerce platforms is still small.
Wang Ningyuan pointed out that in fact, purely used car trading can not produce greater benefits. Used car trading is a typical low-frequency, heavy decision-making transaction, and second-hand car transactions are mainly concentrated online, second-hand car e-commerce is not as good as some car dealers in terms of resources. Business.
At the same time, according to a survey data released by Renren, 60% of the users of car purchases have loan demand, and 100% of users have after-sales service demand.
Therefore, in order to open up a wider market space for used car e-commerce, many second-hand car e-commerce companies have invariably aimed at auto finance services and the automotive aftermarket. The overall view is the overall layout of the eco-chain. Judging from the strategic deployment of the two used car e-commerce companies, including Renren and melons, it also confirms this view.
Li Jian, CEO of Renren Vehicle, believes that with the rapid growth of transaction volume, used car trading has become the entrance of post-car service. Through the “open ecology†to build a used car service system, the business has extended from used car trading to financial, after-sales and even New car trading and other links. This will be the strategic direction for the future development of Renren vehicles after this round of financing.
Li Jian also said that used cars are the entrance to the automotive aftermarket. Through this entrance, everyone will build a complete ecological chain, and the financial business will pull the entire chain, thus achieving overall profitability.
Yang Haoyong, the CEO of the melon sub-car, also pointed out that it will be deeply deployed in the field of auto finance. Moreover, we are opening up the automotive aftermarket with the transaction as the entry point, gradually improving every link and building the second-hand car ecological chain, including finance, insurance and extended warranty.
In fact, opening up these profitable spaces does not mean that they can be profitable immediately. The problem of the profitability of the used car market is also an inescapable reality. At present, many platforms need to rely on financing to promote sustainable development.
Burning money mode continues
Although the two platforms are now financed, the model of used car e-commerce still has problems.
"At present, there is no major breakthrough in the mode of used car e-commerce." Wang Ningyuan believes that second-hand car e-commerce is still in the midst of a marketing war, and constantly "burning money" in order to compete for users.
Looking back at the second half of last year, a number of used car e-commerce companies spared no expense, opened a crazy advertising war, video sites, buses, elevators, can be described everywhere.
In this regard, Zhao Xin, general manager of the marketing center of Youxin Group, said that for Youxin, if you don't make a brand without advertising, it is really difficult to quickly let more consumers receive education in this area in a short period of time. It is a very good thing for everyone to compete at this stage. It is everyone who works together to promote the rapid development of the industry and the rapid education of consumers.
But the results of the huge advertising bombings are not to be seen. Originally using the advertisement "education" market, I did not expect to be "educated" by the market.
The two platforms that just announced the successful financing also announced the advertising budget. After the car was announced, the car was planned to invest 1 billion yuan to continue the large-scale advertising. Yang Haoyong said, "The branding of the next year will not stop, and even the intensity will be even greater."
The Renren car also proposed the "2016 vertical and horizontal strategy" and plans to launch 500 million yuan of advertising.
It remains to be seen whether the continued huge amount of advertising will “burn†a used car e-commerce.
　　
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