Volvo Financial Services (VFS) was formed in 2001 when Volvo joined several of its existing business units. VFS manages Volvo's operations in customer financing, insurance, treasury, real estate and other related services.
Headquartered in Montvale, New Jersey (USA), VFS conducts business throughout Europe, the Americas, Asia and Australia. VFS's team of about 1,000 seasoned and dedicated employees manages approximately SEK 70 billion of assets.
The purpose of VFS is to support Volvo over the long haul. We partner with our sister product companies to provide a full range of financial services for Volvo's customers and dealers. For example, VFS operates private label finance programs for Volvo's three truck brands: Volvo, Mack and Renault Trucks. Building a solid, diversified portfolio of customer leases and loans is key to our long term success.
Apart from our customer focused products and services, VFS contributes to Volvo's results through cycle-resistant earnings growth, cash flow, low funding costs and professional risk management. In short, VFS plays an important role in Volvo's strategy for becoming the world's leading provider of commercial transport solutions.