Uxin reported Q2 revenue of RMB 1.151 billion, up 74.9% YoY, with retail volume up 88.8% YoY, but gross margin turned negative at -0.7% due to proactive inventory clearance. The company guides Q3 gross margin above 6% and retail volume of 20,500-21,000 units, signaling a turnaround.
Uxin is executing a classic turnaround: sacrificing margins to clear inventory, improving efficiency, and positioning for a profitable Q3, making it a high-risk, high-reward play in China's used car market.
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