In August China Auto Logistics launched an online consumer financing service on its auto website in cooperation with Shenzen Development Bank.
The Company’s Chairman and CEO, Mr. Tong Shiping, said, "While at this very early stage the actual number of on-line deals and the contribution to revenues from our on-line consumer financing service is still quite small, the upward trend is obvious, from zero to nine deals in August and a six-fold increase to sixty deals in September. Also in line with our expectations is the four-fold increase in on-line financing revenues from August to September of $3,178 to $13,388."
The company expects to have 60 sites in place throughout China, reaching more than 70% of the auto-buying population by the end of 2011.
Yachting Charter Magazine reports that with 2008 sales of approximately $190 million, China Auto Logistics is one of China’s top sellers of luxury imported cars as well as one of the country’s leading developers of websites for buyers and sellers of imported and domestic automobiles.