Car rental business in Beijing has increased in recent months following the issuance of the new traffic control regulations. Roland Berger, an international consulting firm, projects that revenues from China's car rental market will grow at a compound annual growth rate of 20.2% from RMB 18.2 billion (US $2.8 billion) in 2010 to RMB 38 billion (US $5.9 billion) by 2014.Mr. Hetong Guo, Founder and Chairman of Lentuo, stated, “We expect our expansion into the vehicle leasing market to boost our sales volume and help offset the effects of Beijing’s new licensing restrictions. We believe that our strong market presence and brand recognition in Beijing will enable us to capture a significant share of this rapidly growing market. This is the first of several new growth initiatives we plan to implement in the months ahead.”
Lentuo International Announces Expansion Into Vehicle Leasing Market
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