Chinese auto dealer Zhongsheng buys German tuner Carlsson

May 27, 2012 by Joey Wang

Zhongsheng buys 70 pct of Carlsson

Zhongsheng Group Holdings Ltd , a major Chinese auto retailer, announced on Friday it has acquired a 70 percent stake in German vehicle-personalization specialist Carlsson Autotechnik GMBH to meet rising demand from wealthy Chinese car owners for custom bodies and souped-up engines.

China’s auto retailers like Zhongsheng and Pangda Automobile Trade Co are diversifying their offerings to gain market share as the country’s nouveau riche spend millions on luxury cars.

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