Used Car Specialist Uxin Gets Jump Start from Shifting Gears

Shares rally as company announces first results from its new business model and Singaporean sovereign wealth fund GIC boosts stake Key points: Uxin is emerging from a major transformation to a direct seller of used cars from previous model as middleman for used-car sales While such a model carries higher margins and gives Uxin more control over the business, it also requires far more cash, which Uxin is trying to raise By Doug Young Nothing gets investors excited like a new story from an old company, together with a major…

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