A joint venture established in China is launching an online-to-offline platform exclusively focused on high-end, pre-owned cars in China.

Beijing-headquartered automobile retailer Lentuo International, Bitauto Holdings, a provider of Internet content and marketing services for China’s fast-growing automotive industry and Youxinpai Information Technology, an auto auction service provider in China, have entered into a joint venture agreement to chase growth in the pre-owned market.

Bitauto will leverage its technological know-how and resources to build a dedicated “one-stop shopping” portal which will list pre-owned cars available for sale for the joint venture.

Bitauto will direct its database of online sales and purchase leads of high-end, pre-owned cars to the JV portal.

Any of the pre-owned cars not sold within 45 days of being placed on the portal will automatically enter into Youxinpai’s auction system – integrated into the portal – where the cars will be available for purchase to the highest bidder.

The JV will offer a full suite of value-added after sales services, including vehicle financing, auto insurance, and car leasing.

Chris Kun Dai, chairman and CEO of Youxinpai said: “Our online auction platform and expertise in auctioning pre-owned cars and the quality of Lentuo’s rigorous certification process will maximise the value of car inventories and build a leading business that will contribute to a healthier pre-owned car market in China.”