Report: Daimler to Sell Some German Dealerships to Chinese Firm

Daimler AG has agreed to sell an unspecified number of its Mercedes-Benz dealerships in eastern Germany to Lei Shing Hong Ltd., a China-based conglomerate that retails luxury cars in northeast Asia, the Stuttgarter Zeitung reports.

The newspaper says Daimler will retain its dealerships in Berlin but sell outlets in Dresden, Leipzig, Magdeburg, Rostock and Schwerin. The company has not commented on the report.

Reuters notes that Daimler said previously it intended to sell some of its company-owned dealerships and spend €500 million to update the remaining network.

Lei Shing Hong describes itself as a major dealer in Mercedes-Benz cars in Cambodia, China, South Korea and Vietnam. The company also distributes Porsche vehicles in Cambodia, Korea and Vietnam.