T. H. Data Flash – Autohome Inc. – September 2015: Growing Paying Dealers Drive ATHM’s 3Q15 Results to be Better than Consensus

  • T. H. Data Flash – Autohome Inc. – September 2015: Growing Paying Dealers Drive ATHM’s 3Q15 Results to be Better than Consensus

Registered and paying dealers increased for ATHM in 3Q15 – According to our proprietary data, the registered dealers of ATHM increased to 22.8K in September from 21.7K in August and paying dealers of ATHM increased to 19.0K in September from 18.1K in August (Figure 1). For 3Q15, ATHM had 19.6K unique paying dealers representing Y/Y growth at 34% and Q/Q growth at 5% (Figure 2). In terms of the paying ratio, it steadily went up to 80.4% in 3Q15 compared with 76.3% in 2Q15 (Figure 3).

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