Uxin: Q1 business to be affected by coronavirus, shares fall

Uxin

02/03/2020 19:07

** Shares of China's online used car dealer  UXIN.O  fall
4.8% to $1.59
    ** Company says COVID-19 outbreak combined with softening
macro environment and challenging market conditions will put
short-term pressure on Q1 and may also weigh on Q2  urn:newsml:reuters.com:*:nGNX8pqW70
    ** UXIN steadily pushing forward closure of several ongoing
transaction projects 
    ** Average daily used car sales plunged by around 70% in the
last week of February compared with a year earlier, preliminary
data from China's Automobile Dealers Association, the country's
top dealer association, showed  urn:newsml:reuters.com:*:nL4N2AV386
    ** Including session's loss, UXIN has fallen ~30% YTD

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))