China's biggest car rental firm enters used-car business

Beijing

CAR Inc will begin selling used cars next month to retail buyers as China's biggest rental company seeks new avenues for growth.

The company will start with sales in eight cities and expand to about 100 smaller municipalities next year by acquiring existing dealerships, chairman Lu Zhengyao said in Beijing on Friday. It will initially sell cars that are part of its rental fleet and subsequently offer pre-owned vehicles from other providers as well as new cars, he said.