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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Summary of estimated useful lives of property and equipment | ​
​ | ​
Computer equipment and application software | 2 – 3 years
Furniture and vehicles | 5 years
Summary of disaggregation of revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Years ended December 31,
​ | ​ | 2018 | ​ | 2019 | ​ | 2020
Automobile sales | ​ | $ | 420,005 | ​ | $ | 332,634 | ​ | $ | 32,996
Used car financing income | ​ |  | 2,317 | ​ |  | — | ​ |  | —
Others | ​ |  | 9,082 | ​ |  | 2,063 | ​ |  | 164
Total | ​ | $ | 431,404 | ​ | $ | 334,697 | ​ | $ | 33,160
Summary of effect on consolidated balance sheet as a result of adopting ASC 842 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of December 31, |  | Effect of |  | As of January 1,
​ | ​ | 2018 | ​ | Adoption | ​ | 2019
Right-of-use assets | ​ | $ | — |  | $ | 5,141 |  | $ | 5,141
Lease liabilities - current | ​ |  | — |  | ​ | (1,760) |  | ​ | (1,760)
Lease liabilities - non-current | ​ |  | — |  | ​ | (1,975) |  | ​ | (1,975)
Prepaid expenses and other current assets | ​ |  | 38,714 |  | ​ | (1,422) |  | ​ | 37,292
Accrued expenses and other current liabilities | ​ |  | (10,644) |  | ​ | 16 |  | ​ | (10,628)

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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045 + Details
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- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e765-108305 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=116846552&loc=d3e725-108305 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794 + Details
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