After-Market Services Facilitation

With the slowdown of macroeconomic growth, China's auto market has entered the stock phase, where both consumer structure and perceptions have changed, and the auto after-market services is gaining increasing proportion in the auto dealing value chain. Relying on its extensive channel network across various tiers of cities and service capabilities, Cango has added after-market services as an important part of its full business map in the new retail platform for automobiles.

Currently, Cango’s after-market services focuses on insurance facilitation. Fushun Insurance Broker, an insurance brokerage arm of Cango, operates such insurance-related businesses. Based on Cango’s network covering tens of thousands of car dealers and more than 1,000,000 car loan clients across the country, Fushun penetrates the entire automotive life cycle from car purchase, use to replacement. Fushun dives into the possible insurance-needing scenarios of consumers and recommends a variety of premium insurance plans for users, including but not limited to auto insurance, non-auto insurance and health insurance, while designating dedicated personnel to provide professional follow-up services. With the annual auto insurance sales surpassing 100,000 cars in 2020, Cango will continue to explore more diversified after-market services such as auto repair and maintenance services.