Brazil - With record year on year growth in its financial services operations, Volvo Financial Services (VFS) América do Sul based in Curitiba, Paraná, is now 30 years old on the Brazilian market with managed assets in 2023 totalling BRA 22 billion (USD4.4bn). VFS says it is also celebrating its participation in 40% of the brand's sales in the country, placing the Brazilian operation as one of the institution's most important in the world. Furthermore, this year and last year it is making capital investment of BRA 850 million (USD170m) to support the business in the future.

At the beginning of the 1990s, when the Volvo Group decided to invest in financing to stimulate the growth of the commercial transport segment, the market reality was completely different, according to Carlos Ribeiro, president of VFS América do Sul. He said: “The proximity to the factory, dealerships and distributors has allowed us to develop a very strong expertise since that time. We knew the business inside out and brought in outside expertise into the organization. Thus, we anticipated trends and offered flexible solutions, specific to the most varied segments of transport and construction.”