Volvo 2007 Annual Report Download - page 19
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Please find page 19 of the 2007 Volvo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.Financing services
Financial services are important for the Volvo Group.
The customer offering includes traditional fi nancing
services such as installment plans, operational and
fi nancial leasing and dealer fi nancing.
Service
The Volvo Group consistently strives to improve its
products and reduce customers’ operating costs.
The machines from Volvo CE increase productivity
for work involving the most challenging types of terrain,
and at any conceivable construction work site. To
ensure that the machinery is optimally utilized, an
increasing number of customers are purchasing
service contracts tailored to suit their particular
requirements.
Accessories
Volvo Group customers
are offered a large
number of accessories
that help to simplify
product use and
enhance produc-
tivity. The Joy-
stick, an
accessory
for the revo-
lutionary
Volvo Penta
IPS drive
system,
gives the
boat ope-
rator full control, allowing
the boat to be maneuvered in all directions – to the
side, diagonally, forward or in rotation – using only
one hand.
The strongest driver of the development of
drivelines is customer requirements and pref-
erences, and new legislation with stricter
emissions requirements. Products with relia-
bility, sustainability, drivability, fuel economy
and high environmental parameters help boost
customers’ productivity and profi tability.
The Volvo Group has an extremely
strong position worldwide. Its prod-
ucts have a reputation of being reli-
able, sustainable, safe and cost-effi -
cient, throughout their lifecycle. The
Group’s aim is to exceed customers’
expectations while generating higher
profi tability than its competitors.
Aftermarket business
increasingly signifi cant
The Volvo Group’s vision is to be
world-leading in commercial
transport solutions. Most of the
products the Group sells also
require, in addition to the actual
vehicle or machine, a number
of accessories and services to
ensure that the work they perform
is as effi cient as possible and leads
to maximum profi tability and operating
time. It is here that the Volvo Group’s
increasingly wide offering of accessories,
attachments, spare parts and services has
become an increasingly signifi cant competi-
tive advantage.
It includes various types of fi nancing
solutions, insurance, rental services,
used vehicles, preventive main-
tenance, service contracts,
assistance services and IT
services. The breadth and
fl exibility of the offering
implies that the solutions
can be tailored to the
needs of each customer.
Since a large propor-
tion of the accessories,
spare parts and after-
market services are
required as long as
the products are in
use, they help to balance economic fl uctua-
tions. Strengthening the aftermarket offering
can enhance the Group’s profi tability through-
out the business cycle.
The strategy of increasing sales of acces-
sories, spare parts and services is a key com-
ponent of the Volvo Group’s efforts to achieve
its profi tability and growth targets, particularly
in mature markets. At present,
aftermarket products and
services account for a
signifi cant proportion
of the Group’s total
sales, and that pro-
portion is expec ted
to increase further
over the next
few years.
Accessories,
spare parts
and services
A global group 2007 15