Uxin’s Net Promoter Score (NPS) Increases to 30 during Quarter Ended September 30, 2020
BEIJING, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), a leading nationwide online used car dealer in China, recently announced that the Net Promoter Score (NPS) from its latest survey increased to 30 for the quarter ended September 30, 2020 from 10 for the quarter ended June 30, 2020. The increase in NPS indicates improving customer satisfaction and growing trust in the Uxin brand as the Company enhances overall customer experience and offers quality value-for-money used cars and best-in-class purchasing services.
The survey nets percentages of promoters for Uxin’s products and services (those who will keep buying and refer Uxin to others) against detractors (those who are unhappy with and complain about Uxin’s offerings) for a Net Promoter Score, or NPS. In the September quarter, the percentage of promoters increased to 52%, while the percentage of detractors decreased to 22%.
Uxin focused on three initiatives during the September quarter to drive enhancements in customer experience and satisfaction. First, The Company addressed used car quality and condition by adopting stricter standards in selecting and inspecting cars. Not only have these standards enhanced the quality of its overall used car inventory, but they also lowered the rate of car returns and claims due to quality-related issues. Uxin also introduced new car detailing and reconditioning services to ensure the car’s like-new condition, consistently offering customers a more attractive alternative to buying a new car that offers great value. Second, Uxin refined their on-demand service delivery. Uxin introduced an innovative way to set up WeChat service groups between customers and Uxin sales and service personnel. Once a customer decides to purchase a used car from Uxin and places the order, this service feature offers continuous access to support and convenient communication throughout the entire process of purchasing and driving the used car. Third, Uxin shortened the waiting period between initial ordering and final delivery of cars. The Company optimized the entire fulfillment process, including execution of more timely title transfers, once customers have placed orders.
Mr. Kun Dai, Founder, Chairman and Chief Executive Officer of Uxin, said, “Used cars are big-ticket items and often purchased once every few years. Consumers in China find that the purchasing process is often complex and too frustrating, and it is difficult to get consistent, convenient, and high-quality service. As a result, many customers rely heavily on trust, making positive word-of-mouth referrals critical for expanding our customer base. As is the case in the US market, we believe online platforms are the most cost-effective and efficient way to buy used cars in China, and the most feasible way to add value in the way we service our customers. In addition to our standard Key Performance Indicators (KPIs) for volume growth, we are focusing more intently on customer satisfaction and brand loyalty, with the NPS score as one measure. Transaction volume will increase with stronger brand recognition and customer referrals, and while this approach may take time, we believe that it is key to sustainable growth. Looking ahead, we will continue to enhance the quality of used cars as well as our online product and service offerings throughout the entire transaction process to maximize value for our customers.”
Uxin Limited (Nasdaq: UXIN) is a leading nationwide online used car dealer in China. With its offerings of high-quality used cars and premium services, Uxin’s mission is to enable people to buy the car of their choice online. Uxin’s one-stop online shopping mall provides consumers with a nationwide selection of value-for-money used cars, various value-added products and services as well as comprehensive aftersales services. Its online sales consultants offer professional consulting to facilitate a convenient and efficient car purchase for consumers in a timely fashion. Its comprehensive fulfillment network supports nationwide logistics and delivery as well as title transfers between different cities across China so as to fulfill these online transactions.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Uxin may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Uxin’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Uxin’s goal and strategies; its expansion plans; its future business development, financial condition and results of operations; Uxin’s expectations regarding demand for, and market acceptance of, its services; its ability to provide differentiated and superior customer experience, maintain and enhance customer trust in its platform, and assess and mitigate various risks, including credit; its expectations regarding maintaining and expanding its relationships with business partners, including financing partners; trends and competition in China’s used car e-commerce industry; the laws and regulations relating to Uxin’s industry; the general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Uxin’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Uxin does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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