Autohome to invest $168m in TTP Car.

Autohome, an online destination for automobile consumers in China, is set to invest $168m in TTP Car, an auction platform for used cars in China. "Over the past two years, we have witnessed the robust development of China's used car market. As a leading used car auction platform in China, TTP is well positioned to add significant synergetic value to Autohome's used car business. By working closely with TTP, Autohome will deeply integrate itself into upstream supply of used cars, leverage the transaction business to further develop its auto finance operations, and build a comprehensive C2B2C ecosystem for used car transactions, aiming to become China's largest used car platform," Min Lu, Autohome Chairman of the Board of Directors and CEO.