Autohome is to make an investment in TTP Car Inc., an auction platform for used cars in China, through subscription of preferred shares in the capital of the company for an aggregate purchase price of US$168m.
The alliance between Autohome and TTP will help China optimize the industry structure and circulation path of used cars.
Autohome provides users with a platform which displays a large number of real and effective car sources. By integrating many offline businesses such as price evaluation, vehicle accident inquiry, vehicle condition guarantee, installment payment and insurance which users need most, the company provides full-process used car transaction facilitation services, winning great popularity among massive user base.
Since Ping An’s joining in 2016, Autohome has become the largest online traffic entrance for Ping An’s automobile ecosystem.