APM Terminals Inland Services, South Asia, has signed an exclusive agreement with Gothenburg, Swede, based Volvo Cars to provide a dedicated, specialised warehouse facility in Chennai. The customised warehouse will provide an integrated inland transportation services solution for Volvo Completely Built Up Units (CBUs) imported from Europe to India through the Port of Chennai.
The 102,000 ft 2 facility will include bonded and non-bonded areas, with an overall capacity of 500 vehicles.
Volvo Cars, a subsidiary of the Chinese-based Zhejiang Geely Holding Group since 2010, has seen Indian car sales grow rapidly in the past three years. India is now the world’s fifth-largest passenger car market, after China, the USA, Japan and Germany. India’s car sales have doubled since 2006, with approximately 2.7 million new cars sold in in 2015, reflecting an increase of 7% over 2014, as the Indian economy continues to expand at a