Yongda AutoSigned a Strategic Cooperation Agreement with Volvo

HONG KONG, Nov. 8, 2013 /PRNewswire/ -- China Yongda Automobiles Services Holdings Limited ("Yongda Auto" or the "Company" and, together with its subsidiaries, the "Group") (Stock code: 03669.HK), a leading passenger vehicle retailer and comprehensive service provider in China, is pleased to announce the Company and Volvo have signed a strategic cooperation agreement recently.

As a listed company on SEHK and a professional car dealer group, Yongda Auto is among the best in the industry, whether on the brand image, network development, business management or team building, customer service, marketing innovation and other aspects. This time, Yongda Auto and Volvo signed a strategic cooperation agreement, which not only demonstrates that Yongda Auto will gain more support and development opportunities from Volvo, but also marks that the Yongda Auto has taken a critical and substantial step on the network development of Volvo. In the future, with deeper and more comprehensive cooperation between Yongda Auto and Volvo, it will open huge development space for Yongda Auto's in acting Volvo brand on sales, market expansion, after-sales service and many other aspects.

Volvo is one of the leading high-end car brands in the world. At present, China has become the world's second largest sales market for Volvo. In the first nine months, Volvo was in the leading position in the luxury car market with 41.3% sales growth. Since Volvo has released its China growth strategy in 2011, Volvo has always been growing steadily in Chinese market. On 31 October 2013, Volvo released a brand new strategy in Beijing -- "The future Pipeline Strategy", which refers to five initiatives-diversifying the network type, rationalizing the network scale, optimizing the network costs, improving the network image, and enhancing the cooperation mode. "The future pipeline strategy" designed to expand the third, fourth and five -tier cities on the premise of ensuring the return on investment of dealers and the improvement of pipeline efficiency. Taken the "Adaptation to Local Condition and Acting According to Actual Circumstances" strategy, and determining the different investment scales and patterns of 6S/5S/4S (full function shop), 3S (sales + quick repair shop), SSR (sales showroom), RSC (machine maintenance+ sheet spray center), QSC (fast repair center), BPC (sheet spray center) and the others, it further improves the terminal network of Volvo, and creates more competitive pipeline system. "The future pipeline strategy" is totally in line with the future development direction of the automobile market, and realized the long-term win-win situation among manufacturers, dealers and clients. The joined-hand strategic agreement with Volvo will bring more development opportunities and space for Yongda Auto. With Yongda Auto's expanding sales network in acting Volvo, and in combination of Yongda Auto's present resources advantages, it will bring strong power to the rapid growth and increase the sales performance of the company.

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