China’s Singles’ Day, which is regarded as one of the largest online shopping days in the world, has reported to have sold 100,000 cars within 24 hours. This is reported as the same number of vehicles that 1,000 typical Chinese dealerships sell in a month.
The vehicles were sold at Taobao and Tmall – online shopping websites that the Alibaba Group owns. Singles’ Day, also known as Bachelors’ Day, is a festival observed every November 11 to celebrate singlehood. It then gradually became a day for shoppers, in which great deals and promos are offered through the online shopping websites.
All types of vehicles were sold on this day, which includes luxury brands like Land Rover, Jaguar, and Maserati. Of note, the Maserati Levante that was launched in Taobao last March was offered with a CNY 50,000 (about P363,000) downpayment promo voucher. All 100 vouchers were sold out in just 18 seconds.
BMW also offered 9.8% discount on its X5 SUV with a price tag of CNY 825,000 (about P5.9 million), inclusive of shipping. Other brands that made huge numbers were the Chery Automobile that sold 13,000 sedan and compact cars, and the SAIC Motors who sold out the 1,500 RX5 SUVs on sale.
Moreover, it’s also worth noting that 40% of the vehicles sold during the celebration were purchased on credit. Alibaba also provided financing option of up to 36 months amortization with zero interest rate.
These numbers prove that the online platform can be a great avenue for car shoppers. It’s convenient, with every information needed right at the buyers’ fingertips. In addition, promos and financial options are also available in one location, which the consumer can access and choose from at any given time.
Source: South China Morning Post