Volvo 2013 Annual Report Download - page 23

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Volvo Penta’s strategy is a customer and quality oriented growth
strategy, focused on nurturing current customers and attract-
ing new potentials with premium products.
– Marine Leisure will remain very important to our profi tabil-
ity over the next two years. During 2013 we continued to strengthen our
position and increased our market share, and we are continuing to develop
our Easy Boating concept – our award-winning glass cockpit is a good
example of that, says President Björn Ingemanson.
However, the fastest growing business for Volvo Penta in the past dec-
ade has been sales of industrial engines, which currently represent about
50% of Volvo Penta’s total sales value.
– Over the next two years, I think the area where we can make the great-
est difference is in the Industrial segment. Our product lineup has never
been more competitive within versatile industrial engines, i.e engines used
in mining vehicles, stone crushers, cranes and forklift trucks, says Björn
Ingemanson.
The other area with considerable potential for growth is the Marine
Commercial segment, where there is an increased need for coastal sur-
veillance and patrolling, passenger transports, supply vessels and off-
shore energy. 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.
Profi tability, integrated offerings, increased opportunities for
growth and leadership development – these are Volvo Financial
Services’ (VFS) cornerstones in the strategy for 2013–2015.
To ensure successful execution of its strategy, VFS has
selected fi ve key focus areas, according to Acting President, Scott Rafkin.
These key focus areas will help guide VFS to higher levels of performance
as a key element of the Volvo Group’s success.
After one full year of execution towards the three year strategic objec-
tives, VFS is on track and has achieved signifi cant results. For example,
further integration of Volvo Group products and services, including fi nan-
cial services, is critical for the effi cient delivery of total customer solutions.
VFS has invested in and executed world class point of sales processes
and systems that have already made the total offer concept a reality.
Further development is planned during the strategic period to achieve
even higher levels of integration.
Many more opportunities exist for VFS to maximize its full potential in
support of Volvo Group sales. Customer value and ease of doing business
are at the heart of such initiatives and will continue to shape VFS activities
throughout the strategic period.
Volvo Financial Services’ focus areas
• Strengthen customer and dealer partnerships throughout product
lifecycle.
• Capture profi table growth opportunities.
• Drive operational excellence in support of effi cient
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.
Volvo Penta Volvo Financial Services
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