Cango and Zhengzhou Nissan jointly develop new retail transactions model

By Leandra Monteiro

Cango, an automotive transaction service platform in China, announced its subsidiary Shanghai Cango Network Technology has entered into a strategic agreement with Zhengzhou Nissan Auto, to jointly develop a new retail model for automotive transaction in China’s lower-tier markets.

Min Gu, General Manager of Cango Network Technology said, “We are honored to have reached this strategic agreement with Zhengzhou Nissan. Leveraging our efficient trading service platform, extensive network and industry expertise in the lower-tier markets, we look forward to collaborating with Zhengzhou Nissan to build a new retail model for automotive transaction in these markets.”

Xiaoqiang Zhang, Deputy General Manager of Zhengzhou Nissan said, “Zhengzhou Nissan has always adhered to its dual-brand strategy and has been exploring new segments and consumer markets for many years. Since Cango has been well-established in the lower-tier markets for more than ten years, and its performance has been well recognized by the industry, we expect this new cooperation will not only create a new business model but a win-win situation for both parties.”

As part of the agreement, both parties will collaborate in the areas of automotive sales and marketing in the lower-tier markets through the development of a new automotive retail model. In addition, Cango Network Technology will also provide auto financial products and services to all customers of Zhengzhou Nissan’s certified secondary dealer stores. In addition, Cango Network Technology will work to solve Zhengzhou Nissan’s efficiency problem in the lower-tier markets, while offering financial and other supporting services.