MEC Interaction is the mastermind behind this campaign. The promotion was initiated on 6 September with the launch of a microsite hosted on Taobao. Within less than 24 hours it received 300,000 visitors and generated ample buzz in online discussion forums. The campaign will officially kick off on 9 September.
The normal retail price for the smart car in China is RMB175,000 (US$25,750). If there are more than 200 people locked in for a group buy, the price is reduced to RMB135,000 (US$19,860).
The campaign also includes a 'one second bidding' opportunity on 25 September, giving bidders the chance to buy a smart car for just RMB1 (US$0.15), according to MEC.
Group buying or 'Tuan Gou' in Chinese is a hot trend in China's online market with over 1,000 sites devoted to the practice.
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