WASHINGTON -- Volvo may form a captive finance arm in the United States as part of a push to expand U.S. sales, Volvo CEO Stefan Jacoby said last week.
"We're investigating creating a captive finance arm in the U.S.," Jacoby said in an interview after a Washington conference co-sponsored by Volvo. "We're committed to increasing sales here." He said a decision probably would come by year end.
Volvo's formation of a captive finance business most likely would involve a joint venture with a bank or other financial services institution, he said.