Auto dealer to open more outlets

Shanghai - Zhongsheng Group Holdings Ltd, China's second-largest publicly traded automobile dealer, plans to increase the number of outlets to cater to rising demand for luxury vehicles.

The distributor of eight car brands, including Porsche and Volkswagen AG's Audi, will expand its network by 40 outlets, about half of which will be added through acquisitions, said Chairman Huang Yi on Wednesday. The company, based in Dalian, had 98 dealerships as of March.

Zhongsheng is expanding even as Chinese auto sales slowed this year from the 32 percent growth in 2010, after the government phased out incentives and imposed purchasing restrictions to curb traffic.