Volvo Financial Services (VFS) will strengthen its International financial services organisation based in Beijing.

        On November 23, Volvo Financial Services announced the restructuring of its Asia-Pacific regional organization. From January 1, 2021, the current Volvo Financial Services Asia Pacific (APAC) will be transformed into Volvo Financial Services International region, with the integration of the South African and Turkish markets. Among them, the Moroccan Alliance market will be managed by Volvo Financial Services Turkey market.

        Volvo financial services in Asia Pacific, director of marketing communications Shang Ying told financial net car, in early march, Volvo's financial services asia-pacific headquarters from Singapore to Beijing, and has just announced that the organization structure adjustment will include more of the market, "however, we still put the headquarters in Beijing, so the Chinese market must still is our top priority."

         In addition, Paul Le Houillier, the current President of Volvo Financial Services Asia Pacific, will assume the position of senior Vice President of Volvo Financial Services International, responsible for leading the overall strategy development and implementation of Volvo Financial International.

         In addition to the new markets, Volvo Financial Services International is responsible for markets in Japan, China, Australia, India, South Korea and the Association of Southeast Asian Nations.

        Li Bo, Senior vice-president of Volvo Financial Services International, said: "To continuously improve the quality of customer service, we must continuously evaluate and improve our organisational structure to meet the changing needs of our customers. This restructuring will help Volvo Financial Services to better support the development of Volvo Group's brand business units and further align with the needs of the target market, so as to improve the service system and promote business development."

        Volvo Financial Services said that the restructuring of the Financial Services International region is part of the overall restructuring of Volvo Financial Services. The current Organization structure of Volvo Financial Services in Europe has been adjusted into three new regions: Volvo Financial Services in Southern and Western Europe, Volvo Financial services in Northern and Central Europe, and Volvo Financial Services in Central and Eastern Europe.

According to official data, belonging to the Volvo group, Volvo's financial services with transport solution for the group is committed to promoting social prosperity, focus on the trucks, buses, construction equipment, Marine and industrial application of drive system of the manufacturing and service, and through financial and after-sales service of a full range of solutions to help customers improve operating time of vehicles and equipment and the productivity.

         Data show that Volvo cars sold nearly 130,000 units in China from January to October this year, up 5.3% from the same period last year. In October, sales were 16,688 units, up 19 percent from a year earlier, the seventh consecutive month of double-digit sales growth.