Exhibit 4.8

Share Pledge Agreement*

This Share Pledge Agreement (this Agreement) has been executed by and among the following Parties on this 31st day of March, 2009, in Beijing:



|           |  |                                                                                                                                                      
|---------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------
|Party A:   |  | Beijing Bitauto Internet Information Company(hereinafter Pledgee)                                                                                  
|           | 
|Address:   |  | Beijing New Century Hotel Office Building 6 Flr, No.6 Beijing Capital Stadium Road South, Haidian District, Beijing, P.R. China 100044               
|           | 
|Party B:   |  | Li Bin(hereinafter Pledgor)                                                                                                                        
|ID Number: |  |                                                                                                                                                      
|           | 
|Party C:   |  | Beijing Bitauto Information Technology Company Limited                                                                                               
|Address:   |  | Room 657, Beijing New Century Hotel Office Building 6th Floor, No. 6 Beijing Capital Stadium Road South, Haidian District, Beijing, P.R. China 100044

In this Agreement, each of Pledgee, Pledgor and Party C shall be referred to as a Party
respectively, and they shall be collectively referred to as the Parties.

Whereas,



| | 1. | Pledgor is the citizens of the Peoples Republic of China (China), and holds 80% of the equity interest in Party C. Party C is a limited liability
company registered in Beijing, China engaging in e-commerce and internet content provision business. Party C intends to acknowledge the respective rights and obligations of Pledgor and Pledgee under this Agreement, and to provide any necessary
assistance in registering the Pledge;
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| | 2. | Pledgee is a Wholly Foreign Owned Enterprise registered in Beijing, China. Pledgee and Party C have executed an Exclusive Business Cooperation Agreement on March 9,
2006;
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| | 3. | To ensure that Pledgee collects all payments due by Party C, including without limitation the consulting and service fees regularly from Party C, Pledgor hereby pledges
all of the equity interest he holds in Party C as security for Party Cs payment of the consulting and service fees under the Exclusive Business Cooperation Agreement.
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 4. | Parties entered into a Share Pledge Agreement on March 9, 2006, and now agree to enter into the Agreement to revise and replace that Share Pledge Agreement.
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To perform the provisions of the Business Cooperation Agreement, the Parties have mutually agreed to execute
this Agreement upon the following terms.

1. Definitions

Unless otherwise provided herein, the terms below shall have the following meanings:



| | 1.1 | Pledge: shall refer to the security interest granted by Pledgor to Pledgee pursuant to Article 2 of this Agreement, i.e., the right of Pledgee to be compensated on
a preferential basis with the conversion, auction or sales price of the Equity Interest.
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|* | Form agreement was filed on October 29, 2010 as Exhibit 10.7 to the registration statement on Form F-1, as amended (File No. 333- 170238). This exhibit is filed to
submit the executed version of this agreement and a schedule showing the material differences between this exhibit and other similar agreements.
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| | 1.2 | Equity Interest: shall refer to all of the equity interest lawfully now held and hereafter acquired by Pledgor in Party C.
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| | 1.3 | Term of Pledge: shall refer to the term set forth in Section 3 of this Agreement.
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| | 1.4 | Business Cooperation Agreement: shall refer to the Exclusive Business Cooperation Agreement executed by and between Pledgee and Party C, partially owned by Pledgor on
March 9, 2006.
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| | 1.5 | Event of Default: shall refer to any of the circumstances set forth in Article 7 of this Agreement.
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| | 1.6 | Notice of Default: shall refer to the notice issued by Pledgee in accordance with this Agreement declaring an Event of Default.
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2. The Pledge

As
collateral security for the prompt and complete payment and performance when due (whether at stated maturity, by acceleration or otherwise) of any or all the payments due by Party C, including without limitation the consulting and services fees
payable to the Pledgee under the Business Cooperation Agreement, Pledgor hereby pledges to Pledgee a first security interest in all of Pledgors right, title and interest, whether now owned or hereafter acquired by Pledgor, in the Equity
Interest of Party C.

3. Term of Pledge



| | 3.1 | The Pledge shall become effective on such date when the pledge of the Equity Interest contemplated herein has been registered with relevant administration for industry
and commerce (the AIC). The Pledge shall be continuously valid until all payments due under the Business Cooperation Agreement have been fulfilled by Party C or its subsidiaries. Pledgor and Party C shall (1) register the Pledge in the
shareholders register of Party C within 3 business days following the execution of this Agreement, and (2) submit this Agreement to the AIC for application of the registration of the Pledge of the Equity Interest contemplated herein within 10
business days following the execution of this Agreement. Pledgor and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant AIC, to ensure that the Pledge of
the Equity Interest shall be registered with the AIC as soon as possible after filing.
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| | 3.2 | During the Term of Pledge, in the event Party C fails to pay the exclusive consulting or service fees in accordance with the Business Cooperation Agreement, Pledgee
shall have the right, but not the obligation, to dispose of the Pledge in accordance with the provisions of this Agreement.
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4. Custody of Records for Equity Interest subject to Pledge



| | 4.1 | During the Term of Pledge set forth in this Agreement, Pledgor shall deliver to Pledgees custody the capital contribution certificate for the Equity Interest and
the shareholders register containing the Pledge within one week from the execution of this Agreement. Pledgee shall have custody of such items during the entire Term of Pledge set forth in this Agreement.
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| | 4.2 | Pledgee shall have the right to collect dividends generated by the Equity Interest during the Term of Pledge.
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5. Representations and Warranties of Pledgor



| | 5.1 | Pledgor is the sole legal and beneficial owner of the Equity Interest.
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| | 5.2 | Pledgee shall have the right to dispose of and transfer the Equity Interest in accordance with the provisions set forth in this Agreement.
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| | 5.3 | Except for the Pledge, Pledgor has not placed any security interest or other encumbrance on the Equity Interest.
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6. Covenants and Further Agreements of Pledgor



| | 6.1 | Pledgor hereby covenants to the Pledgee, that during the term of this Agreement, Pledgor shall:
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| | 6.1.1 | not transfer the Equity Interest, place or permit the existence of any security interest or other encumbrance that may affect the Pledgees rights and interests in
the Equity Interest, without the prior written consent of Pledgee, except for the performance of the Exclusive Option Agreement executed by Pledgor, Pledgee and Party C;
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| | 6.1.2 | comply with the provisions of all laws and regulations applicable to the pledge of rights, and within 5 days of receipt of any notice, order or recommendation
issued or prepared by relevant competent authorities regarding the Pledge, shall present the aforementioned notice, order or recommendation to Pledgee, and shall comply with the aforementioned notice, order or recommendation or submit objections and
representations with respect to the aforementioned matters upon Pledgees reasonable request or upon consent of Pledgee;
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| | 6.1.3 | promptly notify Pledgee of any event or notice received by Pledgor that may have an impact on Pledgees rights to the Equity Interest or any portion thereof, as
well as any event or notice received by Pledgor that may have an impact on any guarantees and other obligations of Pledgor arising out of this Agreement.
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| | 6.2 | Pledgor agrees that the rights acquired by Pledgee in accordance with this Agreement with respect to the Pledge shall not be interrupted or harmed by Pledgor or any
heirs or representatives of Pledgor or any other persons through any legal proceedings.
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| | 6.3 | To protect or perfect the security interest granted by this Agreement for payment of the consulting and service fees under the Business Cooperation Agreement, Pledgor
hereby undertakes to execute in good faith and to cause other parties who have an interest in the Pledge to execute all certificates, agreements, deeds and/or covenants required by Pledgee. Pledgor also undertakes to perform and to cause other
parties who have an interest in the Pledge to perform actions required by Pledgee, to facilitate the exercise by Pledgee of its rights and authority granted thereto by this Agreement, and to enter into all relevant documents regarding ownership of
Equity Interest with Pledgee or designee(s) of Pledgee (natural/legal persons). Pledgor undertakes to provide Pledgee within a reasonable time with all notices, orders and decisions regarding the Pledge that are required by Pledgee.
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| | 6.4 | Pledgor hereby undertakes to comply with and perform all guarantees, promises, agreements, representations and conditions under this Agreement. In the event of failure
or partial performance of its guarantees, promises, agreements, representations and conditions, Pledgor shall indemnify Pledgee for all losses resulting therefrom.
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7. Event of Breach



| | 7.1 | The following circumstances shall be deemed Event of Default:
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| | 7.1.1 | Party C fails to pay in full any of the consulting and service fees payable under the Business Cooperation Agreement or breaches any other obligations of Party C
thereunder;
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| | 7.1.2 | Any representation or warranty by Pledgor in Article 5 of this Agreement contains material misrepresentations or errors, and/or Pledgor violates any of the
warranties in Article 5 of this Agreement;
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| | 7.1.3 | Pledgor and Party C fail to register the Pledge in the shareholders register of Party C stipulated in Section 3.1;
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| | 7.1.4 | Pledgor and Party C breach any provisions of this Agreement;
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| | 7.1.5 | Except as expressly stipulated in Section 6.1.1, Pledgor transfers or purports to transfer or abandons the Equity Interest pledged or assigns the Equity Interest
pledged without the written consent of Pledgee;
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| | 7.1.6 | Any of Pledgors own loans, guarantees, indemnifications, promises or other debt liabilities to any third party or parties (1) become subject to a demand of
early repayment or performance due to default on the part of Pledgor; or (2) become due but are not capable of being repaid or performed in a timely manner;
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| | 7.1.7 | Any approval, license, permit or authorization of government agencies that makes this Agreement enforceable, legal and effective is withdrawn, terminated, invalidated
or substantively changed;
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| | 7.1.8 | The promulgation of applicable laws renders this Agreement illegal or renders it impossible for Pledgor to continue to perform its obligations under this Agreement;
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| | 7.1.9 | Adverse changes in properties owned by Pledgor, which lead Pledgee to believe that Pledgors ability to perform its obligations under this Agreement has been
affected;
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| | 7.1.10 | The successor or custodian of Party C is capable of only partially perform or refuses to perform the payment obligations under the Business Cooperation Agreement; and
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| | 7.1.11 | Any other circumstances occur where Pledgee is or may become unable to exercise its right with respect to the Pledge.
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| | 7.2 | Upon notice or discovery of the occurrence of any circumstances or event that may lead to the aforementioned circumstances described in Section 7.1, Pledgor shall
immediately notify Pledgee in writing accordingly.
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| | 7.3 | Unless an Event of Default set forth in this Section 7.1 has been successfully resolved to Pledgees satisfaction, Pledgee may issue a Notice of Default to
Pledgor in writing upon the occurrence of the Event of Default or at any time thereafter and demand that Pledgor immediately pay all outstanding payments due under the Business Cooperation Agreement and all other payments due to Pledgee, and/or
dispose of the Pledge in accordance with the provisions of Article 8 of this Agreement.
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8. Exercise of Pledge



| | 8.1 | Prior to the full payment of the consulting and service fees described in the Business Cooperation Agreement, without the Pledgees written consent, Pledgor shall
not assign the Pledge or the Equity Interest in Party C.
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| | 8.2 | Pledgee may issue a Notice of Default to Pledgor when exercising the Pledge.
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| | 8.3 | Subject to the provisions of Section 7.3, Pledgee may exercise the right to enforce the Pledge concurrently with the issuance of the Notice of Default in
accordance with Section 7.2 or at any time after the issuance of the Notice of Default. Once Pledgee elects to enforce the Pledge, Pledgor shall cease to be entitled to any rights or interests associated with the Equity Interest.
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| | 8.4 | In the event of default, Pledgee is entitled to take possession of the Equity Interest pledged hereunder and to dispose of the Equity Interest pledged, to the extent
permitted and in accordance with applicable laws, without obligation to account to Pledgor for proceeds of disposition and Pledgor hereby waives any rights it may have to demand any such accounting from Pledgee. Likewise, in such circumstance
Pledgor shall have no obligation to Pledgee for any deficiency remaining after such disposition of the Equity Interest pledged.
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| | 8.5 | When Pledgee disposes of the Pledge in accordance with this Agreement, Pledgor and Party C shall provide necessary assistance to enable Pledgee to enforce the Pledge in
accordance with this Agreement.
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9. Assignment



| | 9.1 | Without Pledgees prior written consent, Pledgor shall not have the right to assign or delegate its rights and obligations under this Agreement.
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| | 9.2 | This Agreement shall be binding on Pledgor and its successors and permitted assigns, and shall be valid with respect to Pledgee and each of its successors and assigns.
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| | 9.3 | At any time, Pledgee may assign any and all of its rights and obligations under the Business Cooperation Agreement to its designee(s) (natural/legal persons), in which
case the assigns shall have the rights and obligations of Pledgee under this Agreement, as if it were the original party to this Agreement. When the Pledgee assigns the rights and obligations under the Business Cooperation Agreement, upon
Pledgees request, Pledgor shall execute relevant agreements or other documents relating to such assignment.
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| | 9.4 | In the event of a change in Pledgee due to an assignment, Pledgor shall, at the request of Pledgee, execute a new pledge agreement with the new pledgee on the same
terms and conditions as this Agreement.
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| | 9.5 | Pledgor shall strictly abide by the provisions of this Agreement and other contracts jointly or separately executed by the Parties hereto or any of them, including the
Exclusive Option Agreement and the Power of Attorney granted to Pledgee, perform the obligations hereunder and thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof. Any remaining rights of
Pledgor with respect to the Equity Interest pledged hereunder shall not be exercised by Pledgor except in accordance with the written instructions of Pledgee.
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10. Termination

Upon the full payment of the consulting and service fees
under the Business Cooperation Agreement and upon termination of Party Cs obligations under the Business Cooperation Agreement, this Agreement shall be terminated, and Pledgee shall then cancel or terminate this Agreement as soon as reasonably
practicable.

11. Handling Fees and Other Expenses

All fees and out of pocket expenses relating to this Agreement, including but not limited to legal costs, costs of production, stamp tax and any other taxes and fees, shall be borne by Party C. If Law
(not defined) requires that Pledgee should bear some related taxes and fees, Pledgor shall cause Party C to fully repay Pledgee the paid taxes and fees.



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12. Confidentiality

The Parties acknowledge that any oral or written information exchanged among them with respect to this Agreement is confidential information. Each Party shall maintain the confidentiality of all such
information, and without obtaining the written consent of other Parties, it shall not disclose any relevant information to any third parties, except in the following circumstances: (a) such information is or will be in the public domain
(provided that this is not the result of a public disclosure by the receiving party); (b) information disclosed as required by applicable laws or rules or regulations of any stock exchange; or (c) information required to be disclosed by
any Party to its legal counsel or financial advisor regarding the transaction contemplated hereunder, and such legal counsel or financial advisor are also bound by confidentiality duties similar to the duties in this section. Disclosure of any
confidential information by the staff members or agency hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of this Agreement. This section shall survive the
termination of this Agreement for any reason.

13. Governing Law and Resolution of Disputes



| | 13.1 | The execution, effectiveness, construction, performance, and the resolution of disputes hereunder shall be governed by the formally published and publicly available
laws of China. Matters not covered by formally published and publicly available laws of China shall be governed by international legal principles and practices.
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| | 13.2 | In the event of any dispute with respect to the construction and performance of the provisions of this Agreement, the Parties shall negotiate in good faith to resolve
the dispute. In the event the Parties fail to reach an agreement on the resolution of such a dispute within 30 days after any Partys request for resolution of the dispute through negotiations, any Party may submit the relevant dispute to
the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its then effective arbitration rules. The arbitration shall be conducted in Beijing, and the language used during arbitration shall be Chinese. The
arbitration ruling shall be final and binding on all Parties.
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| | 13.3 | Upon the occurrence of any disputes arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the
matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights under this Agreement and perform their respective obligations under this Agreement.
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14. Notices



| | 14.1 | All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage
prepaid, by a commercial courier service or by facsimile transmission to the address of such party set forth below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively
given shall be determined as follows:
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| | 14.1.1 | Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of delivery or refusal at
the address specified for notices.
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| | 14.1.2 | Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated
confirmation of transmission).
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| | 14.2 | For the purpose of notices, the addresses of the Parties are as follows:
| | ---- | ------------------------------------------------------------------------



|           |  |                                                                                                                                                      
|---------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------
|Party A:   |  | Beijing Bitauto Internet Information Company                                                                                                         
|           | 
|Address:   |  | Beijing New Century Hotel Office Building 6 Flr, No.6 Beijing Capital Stadium Road South, Haidian District, Beijing, P.R. China 100044               
|Attn:      |  | Ye Jing/Li Bin                                                                                                                                       
|Phone:     |  | 6849 2345                                                                                                                                            
|Facsimile: |  | 6849 2726                                                                                                                                            
|           | 
|Party B:   |  | Li Bin                                                                                                                                               
|Address:   |  | Beijing New Century Hotel Office Building 6th Floor, No. 6 Beijing Capital Stadium Road South, Haidian District, Beijing, P.R. China 100044          
|Tel:       |  |                                                                                                                                                      
|           | 
|Party C:   |  | Beijing Bitauto Information Technology Company Limited                                                                                               
|Address:   |  | Room 657, Beijing New Century Hotel Office Building 6th Floor, No. 6 Beijing Capital Stadium Road South, Haidian District, Beijing, P.R. China 100044
|Attn:      |  | Ye Jing/Li Bin                                                                                                                                       
|Phone:     |  | 6849 2345                                                                                                                                            
|Facsimile: |  | 6849 2726                                                                                                                                            



| | 14.3 | Any Party may at any time change its address for notices by a notice delivered to the other Parties in accordance with the terms hereof.
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15. Severability

In the
event that one or several of the provisions of this Contract are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this
Contract shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and
the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.



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16. Attachments

The attachments set forth herein shall be an integral part of this Agreement.

17.
Effectiveness



| | 17.1 | Any amendments, changes and supplements to this Agreement shall be in writing and shall become effective upon completion of the governmental filing procedures (if
applicable) after the affixation of the signatures or seals of the Parties.
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| | 17.2 | This Agreement is written in Chinese and English in three copies. Pledgor, Pledgee and Party C shall hold one copy respectively. Each copy of this Agreement shall have
equal validity. In case there is any conflict between the Chinese version and the English version, the Chinese version shall prevail.
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| | 17.3 | This Agreement constitutes the entire agreement between the Parties hereto, and supersedes all prior discussions, negotiations and agreements among them, with respect
to the subject matter of this Agreement.
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IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this
Share Pledge Agreement as of the date first above written.



|         |  |                                                                       
|-------- |  | ----------------------------------------------------------------------
|Party A: |  | Beijing Bitauto Internet Information Company                          
|         | 
|By:      |  | /s/ Li Bin                                                            
|Name:    |  | Li Bin                                                                
|Title:   |  | Legal Representative                                                  
|         | 
|Party B: |  | Li Bin                                                                
|         | 
|By:      |  | /s/ Li Bin                                                            
|         | 
|Party C: |  | Beijing Bitauto Information Technology Company Limited [Company Stamp]
|         | 
|By:      |  | /s/ Li Bin                                                            
|Name:    |  | Li Bin                                                                
|Title:   |  | Legal Representative                                                  

[Signature Page to Share Pledge Agreement  Bitauto IT]



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Attachments:



|1. | Shareholders register of Beijing Bitauto Information Technology Company Limited;
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|2. | The Capital Contribution Certificate for Beijing Bitauto Information Technology Company Limited;
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|3. | Exclusive Business Cooperation Agreement
|-- | ----------------------------------------



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Schedule A

The following schedule sets forth all other similar agreements among Beijing Bitauto Information Technology Company Limited, certain
special purpose entities and their respective shareholders and the material differences between such other agreements and this exhibit.



|                                                       |  |                                                                                                                                            |  |                                                     
|------------------------------------------------------ |  | ------------------------------------------------------------------------------------------------------------------------------------------ |  | ----------------------------------------------------
|SPE                                                    |  | Executing Parties                                                                                                                          |  | Equity Interest Ownership                           
|Beijing Bitauto Information
Technology Company Limited |  | Party A: Beijing Bitauto Internet Information Company 
Party B: Qu Weihai  Party C: Beijing Bitauto Information Technology Company Limited |  | Party B holds 20% of the equity interest in Party C.
|                                                       |  |                                                                                                                                           
|Beijing C&I Advertising
Company Limited                |  | Party A: Beijing Bitauto Internet Information Company 
Party B: Li Bin  Party C: Beijing C&I Advertising Company Limited                   |  | Party B holds 80% of the equity interest in Party C.
|                                                       |  |                                                                                                                                           
|Beijing C&I Advertising
Company Limited                |  | Party A: Beijing Bitauto Internet Information Company 
Party B: Qu Weihai  Party C: Beijing C&I Advertising Company Limited                |  | Party B holds 20% of the equity interest in Party C.