GLP has signed new leases totalling 66,000 sq m (710,000 sq ft) with two global auto makers in Brazil and China.
Fiat Chrysler Automobiles has leased 43,000 sq m (463,000 sq ft) in São Paulo, Brazil and Daimler has leased 23,000 sq m (248,000 sq ft) in Greater Jinan, Eastern China. Both companies are new customer relationships for GLP and will use the facilities to distribute vehicle parts for after-sales service.
Mr. Ming Z. Mei, Chief Executive Officer of GLP, said, “These leases highlight the demand for efficient logistics solutions to ensure high quality after-sales service for car buyers. After-sales service is very important and drives demand for auto parts, even in an environment where new car sales growth has slowed. We look forward to supporting our customers as they continue to grow.”
GLP works closely with global vehicle brands globally to provide them with strategically located facilities in key markets for both vehicle and parts distribution. Key customer relationships globally include BMW, Chrysler, Ford, GM, Honda and Volkswagen. Auto related leasing accounts for approximately 7% of GLP’s total leased area globally.
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