yixin Group (02858) announced that, according to the latest available data from the China Association of Automobile Manufacturers and the China Automobile Dealers Association, the total sales volume of new passenger vehicles and used passenger vehicles in china for the third quarter of 2024 decreased by approximately 0.9% year-on-year. Sales of used cars in the third quarter of 2024 increased by approximately 1.6% compared to the same period last year. Additionally, sales of new energy vehicles in the third quarter of 2024 continued to show rapid growth, increasing by approximately 33.5% year-on-year.
In the third quarter of 2024, the group continued to develop steadily, outperforming market growth. The total number of financing trades (covering new cars and used cars) increased to approximately 0.192 million, representing a year-on-year growth of approximately 5.2% compared to the third quarter of 2023. In the third quarter of 2024, the total number of financing trades included approximately 0.099 million new car trades and approximately 0.093 million used car trades, with a total financing amount of about 18.5 billion yuan. In the third quarter of 2024, financing trades for new energy vehicles (covering new cars and used cars) increased to approximately 0.053 million, showing a year-on-year growth of approximately 26.8%. Additionally, in the third quarter of 2024, financing trades for used electric vehicles reached about 6,900, accounting for about 13.0% of the total financing trades for new energy vehicles in the group during the third quarter of 2024.
The cni xiangmi lake fintech index (saas) business achieved significant growth, facilitating a financing amount of approximately 5.6 billion yuan in the third quarter of 2024, representing an increase of approximately 87.2% year-on-year compared to the third quarter of 2023. Among the new cars financed through the saas model, new energy vehicles accounted for about 60.6%. Additionally, in the third quarter of 2024, the group established partnerships with two new partners, namely Qin Nong Banks and bank of beijing, through the group's financial technology platform.