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Chan said the WEF event would also have a special virtual component to allow for greater participation given travel difficulties posed by coronavirus contagion.

Challenges ahead However, the prospect is not as good as it looks. Both companies are facing the same problem of how to make money, as traditional dealerships have increasingly thinner profits from selling cars. "We want to try the business model first. If the model works, we will eventually make money from automakers," said Chen Ran, general manager of Gome's auto business division. For a car market to be a success, effective coordination is needed among car makers, 4S stores, insurance companies and accessory producers to realize a one-stop shopping experience like that in traditional supermarkets, said Chen Hao, president of Jiangsu-based dealership company Xiezhong Auto. "In the future, car sellers should provide a more and more personalized service targeting a small niche market. Thus, car markets face the tough test of adapting to changing demand," he said. The newcomers will also be confronted with other segments of the car sales market, including e-commerce giants, used car dealers and group buying service providers. Suning's Liu said price might not be the advantage of car markets, but the company would ensure price transparency, a full range of products and reliable quality. "Our greatest strength is breaking the single-brand bottleneck of 4S shops and giving customers a new buying experience," Liu said.

Chang Jun in San Francisco, Dong Leshuo in Washington, Edith Mutethya in Kenya and Wang Mingjie in London contributed to this story.

Cao also said that Fuyao's factory in Dayton has been strictly observing US laws and regulations.

Chan Tong-kai, a Hong Kong citizen accused of killing his pregnant girlfriend in Taiwan last year, will be released Wednesday after serving prison term in Hong Kong for money laundering.