Alibaba’s platforms, including Tmall, AliExpress, and Taobao, which together make up the largest e-commerce services worldwide, are selling vehicles also, like General Motors’ Cadillac, according to SCMP. On Singles’ Day, the platform set a new record by selling 100,000 vehicles online in just 24 hours.
Alibaba sells 100,000 vehicles online in a single day
As many as 100,000 cars by several automakers were sold on November 11 during a 24-hour period on Tmall and Taobao, according to data provided by the China-based e-commerce giant. This number is roughly equivalent to the amount of vehicles sold in a month by about 1,000 Chinese dealerships.
Chery Automobile Co., the best-selling brand on Singles’ Day, sold about 13,000 compact cars and sedans. In addition, the largest Chinese automaker, SAIC Motor Co., sold about 1,500 RX5 SUVs equipped with Alibaba’s YunOS. SAIC, which operates a joint venture with GM in the country, also made Cadillac sedans available on Tmall, but the number of units sold was not revealed.
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Over 40% of the cars sold on Singles’ Day were purchased on credit, with Alibaba offering car financing of up to 36 months at 0% interest. The Chinese retailer said as many as 120 million customers qualified for the loans, covering more than 260 brands by more than 40 automakers. For example, a Citroen DS car qualifies for 184,000 yuan of loans.
Vouchers and discounts on premium cars
Maserati vouchers were available on Tmall for 50,000 yuan during this year’s Singles’ Day. With a sticker price of HK$1.13 million (999,800 yuan), the vouchers are redeemable at 46 dealers around the country as a deposit for the car. Jaguar and Range Rover were among the other luxury car marques available, notes SCMP. In March, Maserati launched the Levante in China by putting them online via the Taobao platform. In just 18 seconds, all 100 cars made available were sold out, notes SCMP.
Apart from vouchers, discounts were also offered. BMW offered 9.8% discounts on the 825,000 yuan sticker price of its X5 SUVs, including zero shipping charges from Qingdao city in Shandong province, notes SCMP.
Overall, Alibaba registered 32% growth in Singles’ Day sales this year. Alibaba’s platforms recorded gross merchandise volume (GMV) of $17.8 billion, compared to $14.3 billion GMV in total last year.
“The demand for international products continues to be very strong, the value proposition for Chinese consumers for international products continues to be enormous,” Group President Michael Evans said. More than 14,000 “international brands” took part in the sale.