With the close of China's Double 11 (or Singles Day) promotional campaigns, Autohome, Bitauto and Tmall released results from their respective auto e- commerce events. Autohome announced that it had received 37,000 orders on Nov. 11th (+108% YoY over 17,770 orders achieved during the 2013 event.) Vehicle transaction value totaled ~Rmb6b.
We note that this year, some 2,488 vehicles were fully paid for online, this in addition to the traditional discount coupon sales model - a trial to test China consumers' willingness to pay online for such a high ticket item.
Bitauto completed 63,000 orders with 26,000 on its two main e-commerce platforms: Huimaiche.com and 37,000 from Bita Mall. The number of orders recorded by Tmall amounted to 50,700 (vs 10,700 in 2013, +373% YoY). This year Tmall cooperated with Sina Weibo and Sina Auto to promote the campaign.
