FOLLOWING the recent launch of its three new models, Volvo Trucks Middle East has announced the introduction of flexible financing options for its customers in an effort to support the region’s surging industry.
The Swedish premium truck manufacturer, which has seen a 13 per cent increase in forecasted deliveries in the first quarter, is offering a range of financing options to customers facilitating further growth across key markets in the Middle East.
The introduction of the financing programme comes at a time when the regional construction industry is set for rapid growth, backed by heavy government investments and diversified market drivers, including a growing population, infrastructure development, an increase in tourism, and preparations for the upcoming Dubai World Expo 2020 and the Fifa World Cup 2022 in Qatar.
Henrik Larsson, sales finance adviser, Volvo Trucks Middle East, says: “The growth in regional markets and the introduction of new trucks has spurred increased demand, and so there is more of a need for active support in local markets. While this financing programme already existed, it was managed from Sweden.
“Now we are offering these options in the Middle East, which will ensure even better customer service, a shorter lead time, and better understanding of our customer needs via face-to-face meetings. A better customer service means that our local presence will allow us to gain better access to the local and regional financial markets.”
He says the scheme allows the company to take customer service to a new level and assist customers in choosing products depending on their specific needs and financial capabilities. Volvo’s role is that of an advisor to help them make the best possible choice, he adds.
The truck manufacturing giant works with a large network of many of the major global and regional banks, allowing regional businesses greater financing options. With financing typically up to five years, which can be tailored specifically to a business’ needs, the scheme provides a number of payment options designed to reduce payments or initial down payments, to build equity, and fixed rates for enhanced finance control.
“We understand our customers and offer them a number of benefits from our financing options. They receive competitive rates, usually better than their own banks, while leaving their credit limit unaffected; they can opt for Islamic financing, if required, and select the rate structure that works best for them, giving them a flexible repayment schedule,” says Larsson.
Volvo Trucks Middle East has projected a growth of 20 per cent for 2014 following the unveiling of its new FH, FM and FMX models in January. Together with the brand’s ongoing best-seller, the FH, the new models are said to constitute the most significant development in the truck world for a generation, delivering the most advanced safety, efficient and performance-oriented features currently available in the global truck market.
With the new range, Volvo Trucks has set a solid foundation for continued growth throughout the year, with all three models poised to make a significant contribution to the company’s overall performance in the Middle East this year. In particular, the FMX, Volvo Trucks’ dedicated construction model, is tipped to help the brand dominate the construction segment with a robust exterior and revolutionary new design features built for operating in the toughest working conditions on Earth.
Volvo Trucks provides complete transport solutions for professional and demanding customers, offering a full range of medium- to heavy-duty trucks. Customer support is secured via a global network of 2,100 dealers and workshops in more than 140 countries. Volvo trucks are assembled in 14 countries across the globe. In 2013, more than 116,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of the Volvo Group, one of the world’s leading manufacturers of trucks, buses and construction equipment, and drive systems for marine and industrial applications.