Uxin's financial data indicated the company's current well-functioning stage. Its business plan works and pushes the company's next stage's growth.
On July 28, 2022, Uxin Group (UXIN: NASDAQ) released its financial report for the first quarter of 2022, which ended on March 31. The revenue of Uxin in this quarter is CNY 506 million, up 158% year-over-year compared with CNY 196 million in the same period last year. However, this amount of revenue is similar to the amount last quarter. The adjusted net loss was CNY 96.1 million, down 1.94% year-over-year compared with CNY 98 million in the same period last year.
The used car transaction volume in this reported quarter was 4,231 units, up 146% year-over-year compared with 1,719 units in the same period last year. The 2C retail transaction volume reached 1,848 units, an increase of 87% year-over-year. Its NPS (Net Promoter Index) value of Uxin reached 61 points, up 45% year-over-year. It is the sixth consecutive quarter that Uxin has for positive increase.
People also commented on the company's Q1 performance as the one that achieved its initial results of the "word-of-mouth sales" plan. Earlier, Uxin decided to improve its customer experience in all aspects, including testing, delivery, after-sales service, and others. Obviously, this plan is tested to be working and we look forward to the company's next-stage improvements.
The performance of Uxin exceeds everyone’s expectations of the company. Because in Q1 2022, the macro situation for its industry did not indicate a good sign. Due to the emergent COVID-19 and the lockdowns in several regions corresponding, its industry was predicted for a negative increase. And also, the Chinese New Year Festivals and the New Year were also known as the off seasons for this industry. However, Uxin’s performance implies the company’s potential to increase hugely in the long run.