Volvo Eyes Financial Services for Future Growth | Auto Finance News Volvo Eyes Financial Services for Future Growth | Auto Finance News
Auto Finance News
Subscribe
  • Home
  • News
    • All News
    • Exec of the Year
    • Innovation & Technology
    • Management
    • Compliance & Regs
    • Risk Management
    • Capital & Funding
    • Powersports
  • Events
    • DEMOvation Challenge
    • Auto Finance Summit
    • Auto Finance Innovation Summit
  • EXCELLENCE
    • Best Practices
    • Topics
      • Compliance
      • Customer Experience
      • Technology
    • White Papers
    • Glossary
  • Magazine
    • Latest
    • Magazine Issues
  • Podcast
  • Data
    • Lender Ranking
    • Fixed Rate Outstandings at Banks
    • Securitizations
    • Market Share Monitor
AFN PLUS
Friday, February 26, 2021
Log In
No Result
View All Result
Auto Finance News
  • Home
  • News
    • All News
    • Exec of the Year
    • Innovation & Technology
    • Management
    • Compliance & Regs
    • Risk Management
    • Capital & Funding
    • Powersports
  • Events
    • DEMOvation Challenge
    • Auto Finance Summit
    • Auto Finance Innovation Summit
  • EXCELLENCE
    • Best Practices
    • Topics
      • Compliance
      • Customer Experience
      • Technology
    • White Papers
    • Glossary
  • Magazine
    • Latest
    • Magazine Issues
  • Podcast
  • Data
    • Lender Ranking
    • Fixed Rate Outstandings at Banks
    • Securitizations
    • Market Share Monitor
AFN PLUS
Log In
No Result
View All Result
Auto Finance News
No Result
View All Result

Volvo Eyes Financial Services for Future Growth

Emma Sandler by Emma Sandler
October 23, 2017
in Archives, Capital & Funding, Earnings, Innovation & Technology, News Feed
Reading Time: 2min read
Polestar 1

Volvo Financial Services is still an “untapped potential” for Volvo Group and is key to deepening the relationship with customers, Chief Executive Martin Lundstedt said in the OEM’s third-quarter earnings report last Friday.

“Volvo Financial Services delivered a good return on equity with low credit losses,” he said. “Financial services are key in our work to deepen the relationship with customers, and there is still an untapped potential for VFS to increase the sales of financing and insurance packages for Group products.”

Volvo Financial “delivered a good return on equity with low credit losses,” according to the report. The return on equity was 14.3% for the first nine months, a year-over-year increase of 1%. The global number of financed units in 3Q17 was 12,571, up from 12,010 the same time a year prior.

Volvo recently unveiled a new subscription program for its new Volvo XC40, and will also extend that to the new Polestar 1 released last week — a 600 horsepower electric sports car — in an attempt to rival Tesla’s stronghold on the high-performance EV market.

The vehicle is offered in a two- or three-year subscription. Everything from test drives and ordering, to on-demand services like car-washes and a valet, will be handled through a dedicated Polestar app, according to a published report. Polestar 1 is also completely keyless and will have a virtual key through a consumer’s phone. Additionally, the car will be completely separate from Volvo showrooms, but Volvo dealerships will handle maintenance and servicing of Polestar vehicles.

“Customers feel, to take the next step, you must work closer in a partnership with more advanced technology,” Lundstedt said, adding, “so I think to some extent we will streamline the sales.”

For more content like this, check out the 17th annual Auto Finance Summit, which will take place on Oct. 25-27 at the Wynn Las Vegas. To learn more about this year’s event — or to register — visit the Summit’s homepage here.

Tags: Volvo Car Financial ServicesVolvo Cars
Previous Post

Leasing App Honcker Closes $3.6M Seed Round

Next Post

Troubled Waters: Hurricanes Strain Vehicle Inventory, Boost Used Values

Related Posts

compliance top 5 stories
Compliance & Regulation

AFSA 2021: Dems on the Hill prioritize federal all-in interest rate cap

February 25, 2021
Tricolor Auto Acceptance launches AI-powered software service
Risk Management

Tricolor Auto Acceptance launches AI-powered software service

February 25, 2021
The new ‘smart’ car: An introduction to connected car payments
Compliance

The new ‘smart’ car: An introduction to connected car payments

February 25, 2021
Next Post

Troubled Waters: Hurricanes Strain Vehicle Inventory, Boost Used Values

Leave a Reply Cancel reply

Your email address will not be published.

By subscribing you agree to our Terms of Use and Privacy Policy

Latest Magazine Issue

INNOVATION & TECHNOLOGY

Digital lending lags despite consumer expectations

Digital lending lags despite consumer expectations

February 22, 2021
New Webinar Offers Tips for How Lenders Should Adapt to Digital Disruption

Auto Finance Innovation Summit pre-conference survey now open

February 22, 2021

CORONAVIRUS

CPS sees decline in Q4 originations amid low-interest competition

CPS sees decline in Q4 originations amid low-interest competition

February 24, 2021
Subprime sinks in Q3, auto originations move closer to pre-pandemic levels

Subprime sinks in Q3, auto originations move closer to pre-pandemic levels

February 19, 2021

SPONSORED

Collateral Protection Insurance (CPI): What is CPI and what does it do?

Collateral Protection Insurance (CPI): What is CPI and what does it do?

January 8, 2021
US auto sales poised for crash after slowest pace in a decade

Driving Customer Loyalty, Retention After Total Loss

December 9, 2020
When tough times hit, proactive strategies pay

When tough times hit, proactive strategies pay

November 2, 2020

About

ABOUT US

PRIVACY TERMS

ADA COMPLIANCE

CODE OF JOURNALISM ETHICS

Contact Us

ADVERTISE

HELP CENTER

EMAIL SIGN UP 

Follow Us

twitter twitter linkedin podcast

©2021 Royal Media & Auto Finance News

No Result
View All Result
  • Home
  • News
    • All News
    • Exec of the Year
    • Innovation & Technology
    • Management
    • Compliance & Regs
    • Risk Management
    • Capital & Funding
    • Powersports
  • Events
    • DEMOvation Challenge
    • Auto Finance Summit
    • Auto Finance Innovation Summit
  • Excellence
    • Best Practices
    • Topics
      • Compliance
      • Customer Experience
      • Technology
    • White Papers
    • Glossary
  • Magazine
    • Latest
    • Magazine Issues
  • Podcast
  • Data
    • Lender Ranking
    • Fixed Rate Outstandings
    • Securitizations
    • Market Share Monitor
  • +PLUS
  • SUBSCRIBE
  • Log In / Account

© 2020 Royal Media

Go to mobile version