Excel (Tianjin) Leasing has recently completed the initial agreement signing and investment in commercial vehicles for corporate clients. The automobile-service provider with which the Company is collaborating has extensive experience in the field of commercial vehicles in addition to having a professional service team and rich channel resources. The service provider is also ranked among the top of the industry and enjoys high popularity.

Since the second half of 2019, China has increased its investment in infrastructure construction, and demand for heavy-duty trucks has grown rapidly among commercial vehicles. Impacted by the pandemic at the beginning of the year, rigid consumption of the population has drastically driven up the demand for urban logistics, which saw sales of vehicles such as light-duty commercial vehicles, light-duty trucks, medium-duty trucks and cold-chain transporters bucked the market and rose. The sales figures of commercial vehicles outperformed that of the entire automobile industry in the first half of the year.

Focusing on the development of its passenger-vehicle business and supported by that of commercial vehicles, Excel Leasing has fully expanded the segmented markets of commercial vehicles. By turning to corporate clients, the Company will be able to improve channel stickiness and lay a solid foundation for later retail collaboration, which will play a guiding role in retail business.