【Epoch Times News, November 14, 2024】Beijing’s Xingde Bao 5S store was left empty, sparking discussions among netizens. Following this, Tianjin’s largest Audi 4S store, “Yonghao Audi,” also suffered financial difficulties, intensifying mainland Chinese netizens’ pessimism towards the current economic situation and raising doubts about China’s economy being on the verge of a crisis. Currently, at least 1,500 individuals who purchased vehicles from this store are seeking justice.
Recently, news circulated on the internet about Tianjin’s largest Audi 4S store, “Tianjin Yonghao Audi,” closing and fleeing, with thousands of car owners forming groups to fight for their rights. A netizen from Tianjin revealed that the owner of this 4S store had already filed for bankruptcy.
Videos shared by netizens show that the Yonghao Audi 4S store no longer has display cars, and there are no sales staff present. The footage clearly depicts an empty showroom with a few scattered individuals looking helpless.
According to car owners seeking justice, there are no longer any employees in the store, and all display cars have been removed. To fight for their rights, individuals involved in these purchases have formed three group chats, totaling 1,500 people, with the numbers continuing to rise.
The primary reasons for these car owners seeking justice include unused maintenance package benefits purchased previously, the store’s refusal to refund, and difficulties in receiving cars after paying deposits.
One car owner claimed to have purchased a 6-year unlimited maintenance package for ¥16,800 (Chinese currency, remaining the same) but has only used it for 2 years. Another individual mentioned paying around ¥800,000 for a car purchase but is now unable to pick up the vehicle.
Moreover, a circulated closure notice bearing the Yonghao Audi 4S store seal indicated that the sudden withdrawal of a loan by a bank the store had been cooperating with for years caused a financial chain breakdown, leading to severe financial pressure on the company. As of November 12th, the 4S store officially ceased operations, suspending all new car sales and after-sales maintenance services.
On November 13th, Guandian.com reported that the sudden closure of Tianjin’s largest Audi 4S store, Yonghao Audi, has led to a significant number of car owners seeking justice.
The store’s closure notice stated that due to a bank abruptly withdrawing a loan after years of cooperation, causing a financial breakdown, operations ceased as of November 12th, temporarily halting new car sales and after-sales maintenance services. The store expressed intentions to find a solution and plans to confirm preliminary arrangements and inform customers by December 12th.
Currently, access to information through the Yonghao Audi 4S store’s WeChat public account mini-program is unavailable, and the store has not responded to how they will resolve the stored value and maintenance package issues for car owners.
Associated accounts, including their Douyin (TikTok) account, have stopped updating, indicating internal unrest that surfaced last month.
Many netizens believe that the root cause of this 4S store’s financial trouble ultimately stems from the current sluggish Chinese economy, possibly reaching a “precarious” state.
In late October, Beijing’s Xingde Bao Automotive Sales Service Co., Ltd., the first BMW 5S store globally, announced closed-door operations, becoming the first 5S store to shut down. Due to deteriorating economic conditions and increased financial pressure, BMW terminated its brand authorization on October 20, 2024, resulting in a complete suspension of new car sales and after-sales services.
Before the closure, Beijing’s Xingde Bao had already shown signs of a strained financial chain. Store employees reported not receiving their salaries for two to three consecutive months, and numerous car owners expressed concerns about the difficulty in refunding stored balances on social media, with some consumers organizing collective actions for justice.