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April 17, 2014
05:27 EDTLASLentuo International launches pre-owned car quality certification program
Lentuo International announced it has launched a quality certification program to support its growing Certified pre-owned car business and improve confidence and transparency in the pre-owned car industry. Effective today all of the company's mid- to high-end pre-owned cars will receive a complete technical inspection and analysis to ensure they have no significant frame or internal damage, are in excellent working order and meet or exceed generally accepted standards for a particular make and model. Only those cars that successfully pass this inspection will be offered for sale. This will provide much needed price transparency, increase buyer confidence and make financial institutions more comfortable in financing purchases and managing credit risk. These cars, labeled Lentuo Certified Quality will be sold through the O2O platform announced by the company on March 3, which will incorporate the company's flagship showroom in Beijing and additional pre-owned dealerships to be opened as the company expands geographically. Lentuo expects various substantial synergistic effects resulting from the build–up of this dedicated pre-owned car business. Among others, revenues from repair and maintenance should expand as the company will offer discounts to buyers of its certified pre-owned cars.
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August 15, 2014
06:04 EDTLASBitAuto and Lentuo International estabalish joint venture with UXIN
Bitauto (BITA) announced that it has entered into an agreement to establish a joint venture with Lentuo International (LAS) and Youxinpai (Beijing) Information Technology, a professional auto auction service provider in China. The JV will integrate the companies' nationwide resources into an online-to-offline platform focused on high-end used cars in China. The joint venture, which will originally be centered on Beijing and gradually expand to other cities, will integrate the resources of each partner to build the largest Online-to-Offline platform exclusively focused on high-end pre-owned cars in China. Lentuo will own 60% of the joint venture with Bitauto and UXIN each holding 20%.

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