Youxinpai

About Youxinpai

Youxinpai, now part of the 58 group, operates as a business-to-business (B2B) online auction platform for used vehicles in China. Founded in 2011 by Kun Dai, the company was established to create a more efficient and transparent channel for the circulation of second-hand cars. Kun Dai, who serves as Chairman and CEO, has been dedicated to the used car industry since returning to China in 2005, where he first founded an early used car information website before his tenure at Bitauto (Yiche) and the subsequent creation of Youxinpai.

The company's primary clients are professional automotive businesses, including 4S dealerships, car rental agencies, large corporate fleets, and other used car dealers. Youxinpai's business model revolves around providing a comprehensive, one-stop service for these clients. It generates revenue through commissions on vehicle sales and fees for its various services. The platform's core function is to aggregate diverse vehicle inventory from across the country and present it for auction to a wide network of registered buyers, which now exceeds 230,000. This model addresses the inefficiencies of a fragmented market where dealers previously had to travel extensively to source vehicles.

The platform's service encompasses the entire transaction process. It starts with vehicle inspection and condition reporting, utilizing a proprietary system called "Chake" to create detailed, digitized reports. Vehicles are then listed in online auctions where registered dealers can bid. To facilitate nationwide transactions, Youxinpai offers integrated services including secure payment processing, after-sales support, and extensive logistics and transportation, with the ability to deliver vehicles to over 350 cities and counties. The company also provides value-added services such as bulk disposal for corporate clients, residual value assessment, and financing solutions offered through third-party partners. Following its acquisition by 58.com, the platform is now branded as 58 Tongcheng · Youxinpai.