Stabilization of portfolio

As the world began to emerge from the global economic and financial crisis, 2010 was a year of stabilization for VFS. While the first half of the year continued to be plagued by a challenging economic environment, the second half began to demonstrate more positive trends, characterized by a reduction in overall levels of customer delinquencies, inventories of repossessed vehicles and default activity.

Throughout this period, VFS executed on enhanced portfolio management and collection techniques while strengthening and standardizing its operations. As VFS stabilized its portfolio, it did so in close alignment with the other Volvo Group business areas and distributors, with a focus on building and maintaining customer relationships.