Volvo 2012 Annual Report Download - page 23

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Volvo Financial Services’ focus areas
• Strengthen customer and dealer partnerships throughout
product lifecycle.
• Capture profitable growth opportunities.
• Drive operational excellence in support of efficient
customer solutions.
• Attract, develop and retain high-performing employees.
• Optimize shareholder return on equity.
Volvo Penta's focus areas
• Grow the Industrial Versatile Engine (VE) business.
• Grow the Marine Commercial business.
• Leverage on growth in emerging markets.
• Build a world-class supply system.
• Build a customer- and quality-focused company culture.
Profitability, integrated offerings for dealers and customers,
increased opportunities for profitable growth and leadership
development – these are Volvo Financial Services’ (VFS)
cornerstones in the new strategy for 2013–2015, according
to VFS President, Martin Weissburg.
Five key focus areas will guide VFS to higher and measurable levels of
performance as a key element of the Volvo Group’s success.
The direction outlined for VFS in the new strategy is more integrated
and aligned with Group Trucks and the other Business Area strategies
than ever before. As a result, VFS will play an increasingly important role
in the delivery of the Volvo Group’s total customer solution.
The strategy provides a path to operational excellence, so that VFS oper-
ates with more speed and increased productivity. It will also guide on how
to grow VFS’ offerings and market presence in the most profitable way.
Volvo Penta holds world-leading positions as an engine sup-
plier to leisure boats, but the largest potential for growth in
coming years is expected to be found within the company’s
other business segments. According to President Björn
Ingemanson this is because the leisure boat industry has not recuperated
after the severe crisis in 2009.
− Marine Leisure is still our core business, but we do not expect a quick
recovery in this market. If we are to increase our sales, growth must come
from Industrial and Marine Commercial, says Björn Ingemanson.
Within versatile industrial engines, i.e engines used in for example mining
vehicles, stone crushers, cranes and forklift trucks, Volvo Penta has more to
harvest on a growing market, according to Björn Ingemanson.
− Currently, we hold a small portion of this market, but our ambition is to
increase substantially, he says.
The other area with considerable potential for growth is the commercial
boat segment, which is not as sensitive to economic ups and downs as the
market for leisure boats. Volvo Penta’s objective is to double the business
in this area by 2015. Volvo Penta is also to prepare for new markets, mainly
in Asia but also in Africa and South America.
Volvo Financial ServicesVolvo Penta
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