The telco said in a statement that following the sale, its nominee director to the Autohome board had resigned.
It said the divestment reflected the fact that Ping An was a suitable pick as a strategic partner for Autohome.
The sale price of US$29.30 per share was in line with Autohome’s volume weighted average price over the past 60 days.
Last June, Telstra sold a 47.4% stake in Autohome to Ping An for $2.1 billion.
In 2008, Telstra picked up 55% of Autohome’s parent company for $76 million.