Grand Baoxin Auto Group ( (HK:1293) ) has issued an announcement.
Grand Baoxin Auto Group Limited announced that BMW Brilliance Automotive Ltd. and BMW China Automotive Trading Ltd. will revoke the authorization for 10 of its dealership outlets to sell BMW automobiles due to unmet commercial terms. This revocation, effective from March 31, 2025, affects outlets in Jiangsu, Zhejiang, and Shanghai. Despite this setback, the company retains 27 BMW dealership outlets and plans a strategic transformation to adjust its brand structure, aiming to stabilize its financial performance amidst changing market trends.
More about Grand Baoxin Auto Group
Grand Baoxin Auto Group Limited operates in the automotive industry, focusing on dealership services. The company is involved in the sale of automobiles, particularly through its network of dealership outlets, and is listed on the Hong Kong Stock Exchange.
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