Capital Equipment News December 2017

Volvo Group and VFS officials at the official launch of VFS South Africa on November 7 2017.

respective market shares, even in a depressed market. “We are actually selling more trucks in a depressed market. An in- house financing solution will be very handy as it will quicken and smoothen the purchasing experience for our customers,” says Christensson. Important market Christensson says the establishment of VFS in South Africa reinforces the company’s commitment to the country and Africa at large. “We remain positive about Volvo Group’s performance in the region and see many opportunities to grow our business here in the future,” says Christensson. Winkelmann says the South African market is an extremely competitive business environment and sees a great opportunity for VFS as a captive financial solution provider to present customers with a customisable transport solution. “By combining all the expertise inherent in the Volvo Group, all the way from our class-leading products, to the level of aftermarket on offer, our customers will ultimately reap the rewards of a one-stop shop,” says Winkelmann. Winkelmann says the launch of VFS in South Africa is substantiated by the importance of the market to the Volvo Group brands, more specifically Volvo Trucks and UD Trucks. He says the two brands command a combined market share of 25% in South Africa and is also UD Trucks’ biggest market outside Japan. South Africa also represented a total of SEK4,3 billion sales for the Volvo Group in 2016. He adds that while South Africa is a strategic market for the Volvo Group and VFS, more importantly, it is a gateway to South East Africa where the group sees a lot of opportunity to grow. “Over and above that, the South African commercial vehicle market is predicted to grow 50% from 2012 to 2018,” concludes Winkelmann. b