This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Lentuo International Enters Into Strategic Partnership With Sohu Auto To Create O2O Platform For Rapidly Growing Pre-owned Car Market In China

Stocks in this article: LAS SOHU

BEIJING, March 3, 2014 /PRNewswire/ -- Lentuo International Inc. (NYSE: LAS) ("Lentuo" or the "Company"), a leading non-state-owned automobile retailer headquartered in Beijing, today announced that it has signed an agreement ("the Agreement") with Sohu Auto, a leading online auto information provider in China and a business unit of Inc. (NASDAQ: SOHU), to create a fully integrated online-to-offline ("O2O") platform for pre-owned cars in China. Sohu Auto will act as online marketing partner for this platform. The platform will greatly expand Lentuo's ability to reach a larger group of car buyers and allow it to meet the growing demand from younger Chinese who increasingly shop for cars on the internet.

Under the terms of the Agreement, Lentuo will act as the exclusive after-sales service provider for pre-owned cars certified by Sohu as long as Lentuo meets Sohu's quality standards.

On the physical side of the platform, and as a first step, Lentuo announced on February 18, 2014 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. The flagship store will employ state-of-the-art technological equipment and rely on Sohu's IT systems to ensure the highest level of service quality and productivity.

The online side of the platform will leverage Sohu Auto's technological know-how and extensive IT resources to continuously enhance the O2O platform and build big data analytical tools which will allow a comprehensive and highly focused leverage of its expansive user base. The two parties plan to expand the platform to the rest of the country in the future.

Mr. Hetong Guo, Founder and Chairman of Lentuo International commented, "We are excited to team up with Sohu Auto to build a fully integrated online-to-offline platform for pre-owned cars in China."

"While sales of pre-owned cars in China have been growing faster than sales of new cars over the recent years, the market is extremely fragmented, suffers from a lack of professional and ethical standards, and makes scant use of advanced technological equipment."

"This new platform will provide a one-stop shop and high quality customer experience in a hassle-free and highly professional environment. In addition to a streamlined information gathering and transacting process, customers will benefit from reliable certification as well as modern technical facilities and services, financing, and insurance."

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs