Sep 24, 2026 earnings call — Inventory reset and margin recovery
Retail transaction volume reached 19,610 units, up 89% year-over-year.
Revenue $0.2B (est $0.2B) · EPS $-0.12
Key quotes
"So for us, inventory turnover of around 20 days is not a short-term defensive strategy. It is a core operating target that we intend to maintain over the long term."
"Nearly 30,000 brick-and-mortar use car dealerships exited the market during the first half of the year, and we expect 50,000 to 60,000 dealerships to exit for the full year, representing more than 20% of the industry."
"Since the beginning of the third quarter, our per unit profitability has recovered significantly, and we expect our overall gross margin to recover to above 6% in the third quarter."