Volvo Financial Services (VFS), established in 2001, develops and coordinates AB Volvo's operations in dealer and customer financing, insurance, and related services. A global organization operating in more than 40 countries, it is focused exclusively on providing financial services to the Volvo Group's internal and external customers.
VFS offers its products under the labels of: Mack Financial Services, Renault Trucks Financial Services, SDLG Financial Services, UD Trucks Financial Services, and Volvo Financial Services. Each line is designed to support one or more of the product brands offered by the Volvo Group. The Group is one of the world's leading producers of vehicles and construction equipment. At year's end in 2009, the VFS portfolio amounted to approximately 14 billion dollars US.
Volvo Financial Services does not provide financing for Volvo Car Corporation which was sold to Ford Motor Company in 1999.
From January 1, 2010 Ford demerged its Car Finance arm (Volvo Car Finance) and sold the book of loans to Santander.
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