It is understood that Volvo Car Finance China Company is the first branch of Volvo Financial Services Company in Asia and the first auto finance company in China to provide financial services to commercial vehicles and construction equipment. Headquartered in Beijing, the company has a registered capital of 500 million yuan and is managed by an elite team of 20 people led by Cen Jiahui. Mr. jorma halonen, Executive Vice President and Deputy CEO of Volvo Group, said in an interview that with the entry of Volvo Finance into China, all the business of Volvo Group has entered China.
It is understood that the cost of investing in a Volvo commercial vehicle exceeds 654.38+0 billion, and "70%-80% of commercial vehicle customers need to buy it through loans", said Zhan, president of Volvo Finance (China) Company yesterday. Since the insurance company withdrew from the automobile guarantee business in 2003 because of fraudulent insurance, it has been very difficult for banks to purchase commercial vehicles with loans in order to reduce credit risk and greatly raise the threshold of mortgage loans, which has provided market space for Volvo's financial services.
Because Volvo didn't find a suitable partner in Chengdu, it didn't set up a branch in Chengdu. However, Cen Jiahui told reporters that Volvo is very optimistic about the Chengdu market, and it is expected that the sales of Volvo commercial vehicles and engineering equipment in Chengdu will increase substantially in the next five years. Trainee reporter Jiang Wei