BEIJING, July 23, 2012 /PRNewswire-Asia/ -- Lentuo International Inc. (NYSE: LAS, "Lentuo" or the "Company"), a leading non-state-owned automobile retailer in Beijing, today announced that the company has received approval from FAW-Volkswagen Audi to build a new 4S Audi dealership in south Beijing.
The new Audi store will be located in Fengtai District, between the south fourth and fifth ring roads. The store is designed in accordance with FAW - Volkswagen Audi's new standard and will encompass a full range of automotive services including new car and used car sales, car loans, car insurance and insurance renewal, collision damage assessment and payment of claims, repair and maintenance, warranty service, leasing, and supply of FAW - Volkswagen Audi brand parts and accessories.
"We are very pleased to deepen the strategic partnership between Lentuo and Audi through this newly authorized dealership." stated Mr. Hetong Guo, Founder and Chairman of Lentuo. "The high-end segment of the automotive consumer market is growing rapidly. The addition of the new green field Audi dealership is a significant step in expanding our operating scale in high-end dealerships and further promotes Lentuo's brand recognition in the luxury car market."
About Lentuo International Inc.Lentuo is a leading non-state-owned automobile retailer headquartered in Beijing. Lentuo operates 11 franchise dealerships, 10 automobile showrooms, one automobile repair shop, and one car leasing company. Safe Harbor Statement This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.