INDUSTRY NEWS
Volvo Financial Services expands to local market
Volvo Group recently announced the formation of a financial services operation in SA
Volvo Financial Services (VFS), the global finance arm of the Volvo Group, has announced the launch of its operation in SA through the newly established Volvo Financial Services Southern Africa. The operation will provide financial services to the customers of the various brands in the Volvo Group, including UD Trucks, Volvo Bus, Volvo Trucks and Volvo CE. VFS was formed in 2001 and is headquartered in the US. The company manages a net credit portfolio of more than R213bn, employs more than 1,400 people worldwide and provides customer financing in more than 45 countries. "While we are a global organisation, VFS leverages our local expertise to ensure our South African customers’ unique business requirements are addressed through a tailored, competitive solution," says VFS president Scott Rafkin. "We deliver value to customers by being easy to do business with, through our speed and industry knowledge, and by working hard to develop a long-term relationship with them throughout the b...
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