Core Viewpoint - Deutsche Bank initiates coverage of Uxin (UXIN.US), a leading used car retailer in China, with a "Buy" rating and sets a 12-month target price of $4.5, indicating approximately 31% upside potential from the current stock price [1][2] Industry Summary - The Chinese used car market has significant growth potential, with current penetration rates still notably lower than those in mature markets like the United States [1] - The industry is accelerating towards standardized and scaled retail, creating favorable conditions for leading dealers [1] Company Summary - Uxin has established systematic advantages through its innovative offline "supermarket" model, focusing on smart pricing, efficient inventory turnover, and a one-stop car buying experience [1] - With the ongoing expansion of its offline marketplace network and the gradual release of scale effects, the company's profitability is expected to continue improving, indicating a promising medium to long-term growth outlook [1] - Deutsche Bank forecasts a compound annual growth rate (CAGR) of 75% for Uxin's total transaction volume and 71% for revenue from 2025 to 2028, with expectations of achieving overall profitability by 2028 [1]