- Cango reported its fourth-quarter revenue rose sequentially but was down slightly from a year ago, as its newer car-trading services took up a larger portion of the total.
- Company faces a number of macroeconomic headwinds, including pandemic restrictions and a chip shortage that has dampened new car sales worldwide.
- Car trading made up two-thirds of company’s revenue in the fourth quarter while its older auto finance business shrank to just a quarter of the total.
For further details see:
Cango Shifts Gears Into Macro Headwinds, With Eye On NEVs And Car Services