Guanghui Auto Exits New Car Sales, Shifts to Property Leasing and After-Sales Services

Guanghui Auto has now largely exited the new vehicle sales business. Of its more than 500 stores located on self-owned land and premises, only around 30 remain operational, primarily offering after-sales maintenance services. The company has shifted its business model to a combination of leasing its own properties, automobile distribution, and after-sales repair services. At its peak, Guanghui Auto operated over 700 outlets nationwide, representing 57 brands including BMW, Mercedes-Benz, Audi, and Buick. According to the 2024 China Automobile Dealers Group Top 100 Ranking released by the China Automobile Dealers Association, Guanghui Auto sold 713,500 vehicles in 2023, ranking first nationally, and reported total revenue of RMB 137.9 billion, placing second. In August 2024, Guanghui Auto was delisted from the A-share market after its stock price remained below RMB 1 for 20 consecutive trading days, leading multiple automotive brands to subsequently revoke their authorizations.