Uxin Reports 113% Year-on-Year Revenue Growth in Q1, Gross Margin Rises to 7.0%

Uxin Group, a used car retailer, has released its unaudited quarterly results for the period ending March 31, 2026.

The company's total revenue more than doubled year-on-year, with retail sales revenue surpassing RMB 1 billion for the first time, and gross margin showed sequential improvement.

For the first quarter of 2026, the company's total transaction volume was 18,211 vehicles, representing a 120.4% increase compared to the same period last year.

Of this total, Uxin's retail transaction volume reached 16,530 vehicles, a 119.1% increase from 7,545 vehicles in the prior-year period.

Retail transaction volume decreased by 13.7% sequentially, impacted by seasonal factors related to the Chinese New Year holiday.

Financial Performance Highlights

During the quarter, Uxin achieved total revenue of RMB 1.074 billion, a 112.9% increase year-on-year.

Revenue from retail vehicle sales reached RMB 1.015 billion, up 118.0% year-on-year, marking the first time it has exceeded the RMB 1 billion threshold.

Regarding profitability, the gross margin for the quarter was 7.0%, an improvement of 0.2 percentage points from 6.8% in the previous quarter and consistent with the level from the same period last year, indicating stable overall gross margin.

In terms of operational efficiency, the company maintained an average vehicle inventory turnover of approximately 30 days.

Management Commentary

Lin Feng, Chief Financial Officer of Uxin, stated that sales from existing retail locations continue to climb, and new locations are successively commencing operations.

He expects retail sales volume to maintain a high growth rate in the coming quarters, supporting continued growth in revenue and profitability.

Dai Kun, Founder, Chairman, and CEO of Uxin Group, noted that alongside rapid sales growth, the company's large-scale retail locations maintained inventory turnover around 30 days.

The Net Promoter Score (NPS) further improved to 68, continuing to stay above 65, which is an industry-leading benchmark.

He added that with the ongoing growth of existing large-scale locations and plans to open more, Uxin's service coverage, regional synergies, and brand influence will continue to strengthen, solidifying its leading position in China's used car retail market.