Autohome Inc. and China Grand Auto, China's Leading Passenger Vehicle Dealership and Automobile Services Group, Enter Strategic Partnership to Forge an Auto Ecommerce Platform

BEIJING, May 29, 2015 /PRNewswire/ -- Autohome Inc. (NYSE: ATHM) ("Autohome" or the "Company"), the leading online destination for automobile consumers in China, today announced it has entered a strategic partnership with China Grand Automotive Services, Co., Ltd ("China Grand Auto"), the leading dealership enterprise in China's passenger vehicle dealership and services industry, to forge a one-stop auto e-commerce platform dedicated to new car sales, auto financing and aftermarket services.

With this strategic partnership, Autohome and China Grand Auto will integrate their respective distinct advantages from both online and offline platforms to provide automobile consumers with comprehensive and convenient transaction services. This partnership will combine and leverage Autohome's leading user engagement and quality auto sales leads along with the presence and capabilities of China Grand Auto's extensive car sales network and comprehensive value added services. The initial focus of services offered through this partnership will be auto financing, online marketing, e-commerce opportunities and big data analysis services, and will continue to expand into a wide range of other areas in the future.  

James Qin, CEO of Autohome stated, "Autohome has been focused on providing superior services for automakers, dealers and automobile consumers over the past ten years. Partnering with China Grand Auto is a perfect synergy for Autohome as we share the same 'user-centric' value proposition and we will be able to create a wide portfolio of joint products and services to collectively fulfill a complex consumer need. We are looking forward to establishing a deep and long-term partnership with China Grand Auto and we firmly believe that we will further enhance our service capabilities and competitive advantages through this cooperation."

"The auto industry has experienced a revolution with impressive growth and operational effectiveness during the internet era," said Mr. Zhou Yu, Vice President of China Grand Auto. "As the leading dealership enterprise in China, we are embracing this evolution and are continually looking for ways to transform ourselves to stay relevant and ahead of the curve. We truly believe that the partnership with Autohome will benefit both companies and create additional value-added services for our respective automobile consumers."

About Autohome Inc. 

Autohome Inc. (NYSE: ATHM) is the leading online destination for automobile consumers in China. Through its two websites, autohome.com.cn and che168.com and its mobile applications, the Company provides comprehensive, independent and interactive content to automobile buyers and owners. Autohome.com.cn ranked first among China's automotive websites and automotive channels of internet portals in terms of average daily unique visitors, average daily time spent per user and average daily page views in 2014, according to iResearch, a third-party research firm. The Company's ability to reach a large and engaged user base of automobile consumers has made Autohome the preferred platform for automakers and dealers to conduct their advertising campaigns. Automakers typically utilize its online advertising services for brand promotion, new model releases and sales promotions. Its dealer subscription services allow dealers to market their inventory and services through Autohome's websites, extending the reach of their physical showrooms to potentially millions of internet users in China. For further information, please visit www.autohome.com.cn.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will", "expects", "anticipates", "future", "intends", "plans", "believes", "estimates" and similar statements. Among other things, Autohome's business outlook, Autohome's strategic and operational plans and quotations from management in this announcement contain forward-looking statements. Autohome may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Autohome's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Autohome's goals and strategies; Autohome's future business development, results of operations and financial condition; the expected growth of the online automobile advertising market in China; Autohome's ability to attract and retain users and advertisers and further enhance its brand recognition; Autohome's expectations regarding demand for and market acceptance of its products and services; competition in the online automobile advertising industry; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Autohome's filings with the SEC. All information provided in this press release is as of the date of this press release, and Autohome does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

Edith Kwan
Investor Relations
Autohome Inc.
Tel: +86-10-5987-1535
Email: [email protected]

Cara O'Brien
FTI Consulting, Inc.
Tel: +852-3768-4537
Email: [email protected]

SOURCE Autohome Inc.

Related Links

http://www.autohome.com.cn