Volvo Cars names new financial chief

Volvo Cars has appointed Steve Catlin as new managing director of Volvo Car Financial Services UK (VCFSUK).

He takes up the reins of the business which provides wholesale funding to Volvo Cars’ UK retail network and competitive finance products for customers purchasing new and used cars.

VCFSUK was established at the start of 2021 as a 50:50 joint venture between Volvo Cars and Santander Consumer (UK) to provide agile and quick responses to changing market dynamics.

He said: “I am looking forward to working with an amazing brand such as Volvo Cars that has been at the forefront of bringing positive change to the automotive landscape. I believe financial services plays a critical role in supporting the transformation we are witnessing in the industry. How we deliver innovation and provide a flexible platform for our customers and partners in the future will be key factors in securing success.”

Kristian Elvefors, Volvo Car UK managing director, said: “I am pleased to welcome Steve to Volvo Car Financial Services UK and his new role. Financial services are crucial to Volvo’s operations, and they will play an even bigger role in the future as we further develop as a company. I look forward to working closely with Steve to ensure our two businesses remain aligned and wholly focused on meeting the needs of all our customers.”