Date
12 November 2018

China Auto Rental in huge deal for BMW vehicles, paper says

China Auto Rental Holdings Inc., the nation’s largest car rental service provider, has purchased a new fleet of cars from BMW AG, in what marked the German firm’s biggest sale in China, National Business Daily reported Thursday. BMW has handed over the first batch of 300 cars to the Beijing-based company yesterday, and more than a thousand limousines will be delivered to it later, the report said. Although the two companies refused to disclose the deal value, it is estimated to be worth several hundred million yuan. The report cited a source from China Auto Rental as saying that the vehicles will be mainly used for short leases to serve corporate clients in the high-end market.

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