Uxin Limited (NASDAQ: UXIN) reported unaudited results for the quarter ended September 30 2025, posting total revenue of RMB 879.3 million (US$123.5 million), a 33.6% year‑over‑year increase driven by a 84% jump in retail vehicle sales revenue to RMB 819.1 million. Gross margin rose to 7.5%, the highest level in nearly three years, while retail transaction volume reached 14,020 units, up 134% from the same period last year. Inventory turnover remained around 30 days and the net promoter score climbed to 67.
Compared with Q3 2024, Uxin’s revenue grew from RMB 497.2 million to RMB 879.3 million, and gross margin improved from 7.0% to 7.5%. Retail volume expanded from 6,005 units to 14,020 units, and wholesale revenue contributed RMB 33.2 million to the total. These figures illustrate a broad-based acceleration across both retail and wholesale channels.
The sharp rise in retail revenue is largely attributable to strong demand in core used‑car segments, enhanced pricing power from a recent easing of competition in China’s new‑car market, and cost efficiencies realized through the company’s expanding superstore network. A data‑driven pricing system and in‑house reconditioning facilities have helped maintain margin expansion even as the average selling price has trended lower due to a shift toward more affordable inventory.
Uxin’s superstore strategy is delivering tangible results. The Wuhan superstore, opened in February, is on track to reach nearly 1,800 retail units by December, while the Zhengzhou superstore, launched in September, is projected to achieve close to 900 units by year‑end. These new locations are contributing significantly to the volume surge and supporting the margin improvement through higher sales mix and operational leverage.
The company also secured a definitive agreement to raise $10 million in equity financing from Abundant Grace Investment Limited, providing capital to accelerate further expansion. CEO Dai Kun highlighted the company’s “sixth consecutive quarter of year‑over‑year growth above 130%” and CFO Feng Lin noted that the 7.5% gross margin reflects “pricing stabilization in the new‑car market” and “cost control” efforts. Management acknowledged headwinds from a more affordable inventory mix, which has lowered the average selling price, but emphasized that volume growth has offset this impact. The stabilization of new‑car pricing remains a tailwind that supports continued profitability.
Overall, Uxin’s Q3 2025 results demonstrate strong volume growth, margin expansion, and a clear path toward profitability. The company’s aggressive superstore rollout, coupled with disciplined cost management and a favorable pricing environment, positions it well for continued scaling, while ongoing inventory mix adjustments and market pricing dynamics will remain key factors to monitor in the coming quarters.
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