Renren car, a six-year-old used car trading platform, is experiencing the most difficult time. Recently, a number of media reported that renrenrenche is initially planning to sell its main assets to 58 cities at a price of 10000 Hong Kong dollars (about 8586 yuan). The potential deal has been supported by Tencent and didi travel, investors of Renren auto. < p > < p > this is another “bad news” from renrenrenche after Li Jian officially quit on October 15. And such a low transaction price, also let many people in the industry surprised. < p > < p > in view of the various versions of the online purchase news, renrenche recently declared to the public that “the relevant information is not true, and it reserves the right to investigate the legal responsibility of the disseminator of false information according to law.” < p > < p > on October 23, Zhang Xiang, an auto industry analyst, told the times weekly: “Renren’s sales volume and network attention have been declining in recent years. In addition, it has not received a new round of financing for some time. According to the existing second-hand car e-commerce mode, it is very possible to choose to sell.” < p > < p > in 2017, Renren automobile once became the leader in the domestic second-hand car e-commerce field. In the next few years, renrenrenche experienced layoffs, strategic adjustments and high-level turbulence. Today, renrenche is standing on the edge of the cliff. On October 15, a number of industrial and commercial changes occurred in Beijing renrenche Network Technology Co., Ltd. Tianyan inspection shows that the legal representative of renrenrenche was changed from Du Xiyong to Zhao song; the shareholders Wang Qingxiang and Li Jian withdrew, and new shareholders Wang Xue and xiangruikeyao (Beijing) Technology Co., Ltd. were added; at the same time, the company’s original supervisor Chen Ying, manager Du Xiyong and executive director Li Jian withdrew, adding Zhao song as manager and executive director, and Yu Yang as supervisor. On October 23, an employee in front of Renren car told the times weekly: “Li Jian’s professional ability as a product manager is good, but as a boss, the pattern is still a little poor.” < p > < p > previously, some media reported that Li Jian did not have an independent office in renrenrenche, and the company’s vacation and business trip system was very loose. In many cases, it even depended on employees’ self-consciousness. However, at the beginning of 2019, renrenrenche fell into a “layoff storm”, and its Beijing head office, Xi’an Branch, Chengdu branch and other offices once encountered collective rights protection of employees. < p > < p > < p > “layoff storm” is caused by Li Jian’s release of an internal letter concerning renrenrenche’s strategic transformation in February 2019. Li Jian said in the letter that renrenrenche will officially launch the strategy of “new platform, new retail”, realize platform operation and recruit partners offline. At that time, renrenrenche required its employees to become the company’s partners. < p > < p > according to renrenrenche City partner plan, internal employees need to pay a deposit of 10000 yuan to become a city partner. The signing time is half a year, and the funds need to be paid in advance. Some employees think that the plan is equivalent to a disguised layoff. At that time, some industry analysts believed that renrenrenche’s fundamental purpose was to reduce the operating cost pressure brought about by the layout of offline stores in hundreds of cities, but its radical attitude backfired. < p > < p > on October 24, Zhang Xiaorong, President of the deep science and Technology Research Institute, told the times weekly: “at that time, renrenrenche had already faced the risk of declining market position, insufficient funds on account, and even the possibility of withdrawing from the whole line.” According to Tianyan survey, renrenrenche has completed six rounds of financing since 2014. The latest financing was led by Goldman Sachs Group, followed by Tencent investment and didi travel in April 2018, with a financing amount of US $300 million. In Zhang Xiang’s view, affected by the epidemic this year, the resumption of work, vehicle transportation and consumer purchasing power of the whole used car e-commerce industry have been greatly affected. In the first half of the year, orders have been greatly reduced, which has a huge impact on Renren, which has not yet received a new round of financing. < / P > < p > on the other hand, after the second-hand car e-commerce companies have launched the banner of “no middleman to earn price difference”, relying on high advertising fees and heavy asset store layout, has not been able to help used car e-commerce to obtain the expected profit. < / P > < p > on October 23, a former employee of a used car e-commerce platform disclosed to the times weekly: “in the second-hand car e-commerce platform which claims that there is no middleman in the market, most of the time, they still sell their cars to car dealers who pretend to be personal buyers, and some employees have to cooperate with car dealers to act.” < / P > < p > some people in the industry believe that, in contrast, the traditional used car dealers can be seen and felt, and have irreplaceable value in user trust and vehicle source. < p > < p > in 2017, renrenrenche launched an auction business for car dealers, and set up to B business line one year later. But this has not stopped the decline of renrenche. According to Zhang Xiang, in terms of sales volume and network attention, Renren car ranked second only to Guazi second-hand car in the industry in 2018, but by last May, Youxin second-hand car had overtaken Renren car. < / P > < p > it is worth noting that renrenrenche is not the only second-hand car e-commerce facing the profit problem. The same is true of Youxin used car, which has completed the overtaking. According to the performance report, in the seven quarters after IPO, Youxin has been in a loss state for six consecutive quarters, with a total loss of nearly 3.5 billion yuan in two years. < p > < p > Zhang Xiang believes that at present, there is no perfect database for used car valuation in China. In addition, second-hand car transactions are highly dependent on regions. Compared with local used car dealers, most used car e-businesses must increase offline store layout and online network promotion to open up the market. For example, Renren car’s current mode of “burning money” to increase the number of orders and used car sales is difficult to maintain without the continuous input of external funds. Global Tech