Volvo Group launches customer financing in India
| Bengaluru, Oct 12 | Updated on: Oct 12, 2015
Volvo Financial Services today launched its operations in India, offering customisable loan, lease and insurance options for truck, construction equipments and bus customers under three different Volvo Group brands.
Volvo Financial Services offers a comprehensive selection under Volvo Group brands – Volvo Financial Services, Eicher Financial Services and SDLG Financial Services, the company said.
Volvo Financial Services strengthens the Volvo Group's ability to provide a competitive and total one-stop shop solution of equipment, loans, leases, insurance, maintenance, and other aftermarket services, to customers and dealers of the Volvo Group and VE Commercial Vehicles Ltd, it said in a statement.
"VECV" is a joint venture between the Volvo Group and Eicher Motors Limited in India.
Scott Rafkin, EVP and Global President, Volvo Financial Services, who officiated the launch today said, "Volvo Financial Services is a global enterprise, and being a part of the Volvo Group, we have a strong understanding of the use of the products made by Volvo Group and VE Commercial Vehicles under the Eicher Trucks and Eicher Buses brands, and the industries in which our customers operate in."
John Rakocy, President, Volvo Financial Services Region Asia-Pacific said, "After running a private label financing program with one of the leading finance companies in India during 2011 to 2014, we decided to launch full-fledged operations in India using our own balance sheet."
Santosh Aiyer, Managing Director, Volvo Financial Services India said the launch of Volvo Financial Services in India further confirms the Group's commitment to India and while Volvo Group was already a strong part of the 'Make in India' story, "we now also 'Finance in India.'"
Customers who finance their Volvo or Eicher products with Volvo Financial Services or Eicher Financial Services can preserve their existing lines of credit with their banks for other business needs, while enjoying the benefits of an integrated solution from the Volvo Group and VE Commercial Vehicles, the release said.