HONG KONG, March 25, 2013 /PRNewswire/ -- China Yongda Automobiles Services Holdings Limited ("Yongda Auto" or the "Company", together with its subsidiaries, the "Group", stock code: 03669.HK), a leading passenger vehicle retailer and comprehensive service provider in China, announced the grand opening of Baocheng Shengzhou 4S Store and the Baocheng Jiangyin 2nd Store of the Group on 20 March and 22 March this year, respectively. The official launching of the Baocheng Shengzhou 4S Store will make itself become the one and only one authorized BMW distributor in both Shengzhou and Xinchang, while the Baocheng Jiangyin 2nd Store will become the second authorized BMW distributor of the Group invested and established in Jiangyin City.
It is well known that the pace of development of the BMW brand was rapid in China in recent years. In 2012, the BMW Group showed an eye-catching sales result in the Mainland China's market. The BMW and MINI brand chalked up total annual sales of 326,444 cars, representing a year-on-year growth of 40.4%. After a decade of development, the sales volume of BMW Group in China has breached the 1 million-car mark. In the upcoming 3 years, it is expected that the sales in China of the BMW Group will surpass 2 million cars.
At present, as the leading distributor for luxury and ultra-luxury automobile, BMW brand accounted for the highest proportion among the brands being distributed by the Group. With the official launching of the Baocheng Shengzhou 4S Store and the Baocheng Jiangyin 2nd Store of the Group, its number of BMW 4S Store, as well as the urban showroom was increased to 23. Moreover, the BMW flagship urban showrooms of the Group - the Baocheng Huaihai Store and the Baocheng Shenjiang 4S Store are going to be opened officially in the first half of this year. In the future, the Group will continue to seek for chances to further our cooperation with the BMW Group. In addition, the Group will adhere to the development strategy of focusing on high-ended automobile brands. While further solidifying our leading position in the markets in Eastern China,Company also pursues selective expansion in other regions with strong growth potential. With self-construction as the primary goal, the Group will carry out acquisitions and mergers simultaneously at an appropriate time, in order to expand our sales network.
As the leading distributor for luxury and ultra- luxury automobile, the Group has focused on luxury and ultra-luxury brands and possessed a well-established sales network and a huge middle- to high-ended customer base. With all these, the Group has become one of the largest 4S Store distributors for luxury automobile brands in China. The Group's main brands include Porsche, Audi, BMW, Jaguar / Land Rover, Volvo, Infiniti, Cadillac, and Bentley and others. Benefiting from the unceasing growth of the market sales of BMW in China, as well as the optimization of the distribution network of the Group in the future, the overall profits will also be on the track of steady growth.
About China Yongda Automobiles Services Holdings Limited
Yongda Auto is a leading passenger vehicle retailer and comprehensive service provider in China focused on luxury and ultra-luxury brands. Yongda Auto has a strong brand portfolio of luxury and ultra-luxury brands including BMW, MINI, Audi, Porsche, Jaguar, Land Rover, Infiniti, Cadillac and Volvo. It operates and has obtained manufacturer's authorizations to open a total of 93 outlets. Its network has a strong presence in East China, including Shanghai, and has expanded into other regions in China. In addition to new passenger vehicle sales business, Yongda Auto also provides customers with a comprehensive range of automobile-related services through its "one-stop shop" approach. These include after-sales services, automobile rental services, as well as a wide array of services that it offers in connection with pre-owned vehicles, automobile insurance products, and vehicle inspection etc.
For further information, please contact:
| Porda Havas International Finance Communications Group | ||
| Ms. Kelly Fung | Phone: +852-3150-6763 | kelly.fung@pordahavas.com |
| Ms. Angie An | Phone: +852-3150-6736 | angie.an@pordahavas.com |
| Ms. Irene Chan | Phone: +852-3150-6739 | irene.chan@pordahavas.com |
| Mr. Mike Ng | Phone: +852-3150-6735 | mike.ng@pordahavas.com |
| Ms. Kannie Lam | Phone: +852-3150-6721 | kannie.lam@pordahavas.com |
| Fax: +852 3150-6728 | ||
