Profitability is poorly ranked at #8, but Growth jumped to #2 from #9 in the past 12 months. Zhongsheng is ranked among the worst 372 of 1,240 large Consumer Discretionary companies.
Profitable Growth has remained poor for years and now ranks at #8. He has not been able to raise Zhongsheng’s competitive profitability during the last five years, though growth has recently ticked up. He sits on Chinese dealer councils for both Lexus and Toyota.ĬEO Guoqiang Li, another co-founder, is in charge of daily management of the dealership chain. Yi Huang, co-founder and chairman, is in charge of long-term strategy at Zhongsheng. With more than 15,000 employees, the company ranks fourth among the top 100 automobile dealer groups in China, in terms of sales, according to the China Automobile Dealers’ Association. Mainland China accounts for more than 90% of sales. Most of the group’s luxury dealerships are located in the Eastern and Central China regions and the majority of mid-tier dealerships are in the Southwestern and Northwestern inland regions. The company also operates after-sales businesses that offer spare parts, accessories, repairs and maintenance services and other automobile related services. Its luxury brands include Mercedes-Benz, Lexus, Audi, Porsche, BMW and Land Rover and its mid-tier brands include Volkswagen, Toyota, Nissan and Chrysler. Zhongsheng distributes luxury and mid-tier foreign automobile brands across China, through around 240 dealerships. Zhongsheng was the first to have dealership rights for Toyota and one of the first dealerships for Lexus and Audi in China. The company has more than 200 dealerships in over 70 cities in 20 provinces. The group distributes luxury and mid-tier automobiles from well-known brands. Zhongsheng Group Holdings Limited is a leading automobile retailer in China. Marketplace providers will have to focus on digitalizing their web portals for all aspects of the customer journey, including vehicle tour, configuration, financing, trade-in, warranty, digital signature, and the ability to facilitate transactions digitally.Īs millennials and Generation Z become the largest car-buying groups, they will expect a seamless and digital purchase journey.Watch the video with Andrew Stotz or read a summary of World Class Benchmarking on Zhongsheng Group Holdings Limited. Online new car marketplaces still have potential for evolution with the development of more value-added, customer-oriented digital services. Although marketplaces were already offering new car sales online, the pandemic accelerated the trend at the back of a confluence of factors including customer demand for more buying choices and intrabrand competition among dealerships. Automakers are exploring ways to reach out directly to customers to reduce retail operating costs while new car dealers want more effective ways to market and sell their inventory in the competitive retail arena.Īutomotive eCommerce had to transform during the COVID-19 pandemic because many companies selling cars did not offer fully digital services and automakers had to temporarily close physical dealerships to the public. New and used vehicles can be purchased in a variety of ways in Europe, whether through franchised car dealerships, OEM online channels, or third-party online marketplaces. This report reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the methodology. 14, 2022 (GLOBE NEWSWIRE) - The "European New Car Online Marketplaces, 2022" report has been added to 's offering.
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