This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lentuo To Expand Nationwide Into Pre-owned Car Market





BEIJING, Feb. 18, 2014 /PRNewswire/ -- Lentuo International Inc. (NYSE: LAS) ("Lentuo" or the "Company"), a leading non-state-owned automobile retailer headquartered in Beijing, today announced its strategy for a rapid and comprehensive expansion of its pre-owned car business.

After extensive analysis of the pre-owned car market in China, the Company strongly believes that the time has come for a substantial overhaul of current practices at a time when this market is growing faster than sales of new cars and that the car ownership aspirations of a large number of Chinese consumers require the rapid development of a strong and healthy pre-owned car market nationwide.

The Company intends to quickly build a first-mover advantage through the roll-out of an online-to-offline ("O2O") platform that it intends to implement in the near future, leveraging its extensive technical know-how, loyal customer base, sophisticated equipment, and experienced management team.

Lentuo has held discussions with potential partners for the development and implementation of the O2O platform and its rapid geographical expansion. The Company will make partnership announcements in due time.

On the physical side of the platform, and as a first step, Lentuo announced today that it will convert an existing new car showroom in South Beijing into a fully integrated pre-owned flagship store for mid-to-high end cars that will privilege customer experience, reliability and extensive choice.    

Customers will be able to buy certified pre-owned mid-to-high end cars from Lentuo and a number of high-quality third party dealers and transfer ownership title on the spot because of the strategic location of the store in the Beijing Economic and Technological Development Area ("BDA") which has already developed as a center for car sales. Other services will include trade-ins, financing and repair and maintenance services. The flagship store will be at the center of the BDA, a state-level development zone that includes a large, heavily trafficked office complex with a number of foreign and domestic Fortune 500 companies and an exclusive housing community. The store will benefit from a concentrated high-income population and favorable government policies for firms located within the BDA.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs