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 reported a 13% increase in forecasted deliveries in Q1, is offering a range of financing options to customers facilitating further growth across key markets in the Middle East.
The introduction of the financing program comes at a time when the regional construction industry is set for rapid growth thanks to 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 FIFA World Cup 2022.
Henrik Larsson, sales finance advisor, Volvo Trucks Middle East, said: “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 program 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.
“This scheme allows us to bring our customer service to a new level and assist them in choosing products depending on their specific needs and financial capabilities. Our role is as an advisor to help them make the best possible choice.”
The truck manufacturing giant works with a large network of many of the major global and regional banks which deals through a range of currencies including US Dollars, EURO and SEK, allowing regional business’ 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.
Larsson, continued: “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.”
