BEIJING – China Grand Automotive Service Co., Ltd. (Grand Auto) overtook Pangda Automobile Trade Group Co., Ltd. (Pangda) as China’s largest automobile dealer group by sales revenue in 2011, according to the newest ranking of China’s Top 100 dealer groups released by China Automobile Dealers’ Association (CADA) on May 8.
Xinjiang-based Grand Auto had turnover of ¥64 billion ($10.2 billion) on sales of 412,100 vehicles, while Pangda, traditionally the largest automobile dealer group in China, fell to the second place with revenues of ¥55.4 billion on sales of 430,000 vehicles.
The Top 100 dealer groups in 2011 had combined revenues of ¥851.5 billion, up 26 percent year-on-year, with vehicle sales totaling 3.92 million units, up 41 percent.
There were 21 dealer groups that had revenues of more than ¥10 billion each and three that had revenues of more than ¥50 billion each in 2011.
Total sales outlets of the Top 100 dealer groups rose 82 percent to 5,665 in 2011, including 3,952 authorized 4S dealerships, up 27 percent.
Revenues from vehicle transactions still accounted for the majority source of total revenues, at 88 percent, while service and financing/insurance accounted for 7 and 4 percent respectively.
CADA said market shares of second- and third-tier cities kept raising year by year for the dealer groups, and Top 100 dealer groups’ layout in the first-tier cities has been narrowed to 15 percent in 2011 from 21 percent in 2009.
Meanwhile, the share of independent brands’ network in Top 100 dealer groups reached 15 percent of all networks in 2011.
In addition, the number of listed dealer groups increased to 8 in 2011, with financing totaling ¥20 billion, and their total revenues and sales accounted for 26 and 27 percent of all revenues and sales of the Top 100 dealer groups, respectively.