TIANJIN, CHINA, Mar 03, 2010 (MARKETWIRE via COMTEX) -- China Auto Logistics Inc. ("the Company"), one of China's leading developers of websites for buyers and sellers of imported and domestic automobiles, a top seller in China of imported luxury cars, and a leading provider of auto-related services, announced today that it has signed a $1 million management agreement with the owners of the Tianjin FTZ International Automobile Exhibition & Sales Center, the only imported auto mall in Tianjin. More than 450 cars a day typically are displayed at the mall, a striking, modern two-story structure occupying over 55,000 square meters in China's most important port for imported autos. In 2009, more than 43,000 car sales were recorded at the five-year-old mall, representing more than 12% of China's imported car sales during the year.
Under the agreement, which is effective for one year starting on March 1, 2010 and renewable thereafter, China Auto Logistics will be expected to promote and market the auto mall as a consumer and dealer destination. This will include a full range of advertising and marketing techniques on the Company's industry leading www.at188.com imported auto website, as well as a variety of additional promotional techniques, such as special events and exhibitions. A key focus under the agreement also will be to attract long-term, high quality tenants for the mall utilizing China Auto Logistics' extensive, nationwide auto dealership network.
Mr. Tong Shiping, CEO and Chairman of the Company, stated, "This is a very exciting assignment for us that reflects our significant position and recognized marketing and logistical skills in the imported auto industry in China. We have achieved this through our transition from a traditional imported auto dealer to a modernized, automobile logistics company with the reach and power of our www.at188.com website at the core of our success. We fully anticipate helping the Tianjin mall attain new levels of success."
