DaimlerChrysler plans China expansion

DaimlerChrysler plans to expand its dealer network in China over the next 8 years. The car maker will open 217 Mercedes-Benz dealerships in 68 mainland cities during the period, up from the 33 dealers in 23 cities it had in 2002, according to German media reports. DaimlerChrysler also plans to offer low-interest auto financing to dealers and customers to increase sales. The company is currently negotiating to establish a truck and bus joint venture with a mainland company but details were not disclosed.