January 27, 2026 at 9:00 AM Eastern
Volvo Car Financial Services and Bank of America Extend Relationship Through 2030
Strategic Alliance Delivers Competitive Financing Solutions for Volvo Cars Customers and Retailers
CHARLOTTE, NC | MAHWAH, NJ — Volvo Car Financial Services (VCFS) and Bank of America (NYSE: BAC) today announced the extension of their long-standing relationship to provide auto loan and lease origination, financing, and servicing for Volvo Cars customers and Volvo Cars’ 280 U.S. retailers. The collaboration, which began in 2012, will now continue through 2030.
“Bank of America has been a trusted partner for over a decade, assisting Volvo Cars customers in financing and enjoying their vehicles,” said Robert Manna, President of Volvo Car Financial Services. “By extending this relationship through 2030, we are reaffirming our commitment to providing competitive financing options and a high-quality experience for both customers and retailers.”
“We are thrilled to extend our strategic partnership with Volvo Cars,” said Roger Boschulte, Head of Vehicle and Home Lending Products at Bank of America. “This extension reinforces our shared focus on delivering a smooth and flexible financing experience designed to make vehicle ownership easy and accessible.”
VCFS is one of the only U.S. luxury automotive captive finance organizations with a third-party bank-sourced funding model, offering highly competitive loan and lease products for new, used, and certified pre-owned Volvo Cars vehicles. Through our strategic alliance, Volvo Cars customers benefit from Bank of America’s proprietary underwriting capabilities and top-notch servicing platform.
By combining VCFS’s customized programs with Bank of America’s technology and service strength, the relationship offers competitive rates, flexible options, and ongoing support, from application to the duration of the loan or lease.
Volvo Car Financial Services U.S., LLC is a wholly owned subsidiary of Volvo Car Corporation of Gothenburg, Sweden, and provides financial services and products to Volvo Car customers and Volvo Car retailers in the United States.
Headquartered in Mahwah, New Jersey, Volvo Car USA LLC (VCUSA) is a subsidiary of Volvo Car Group of Gothenburg, Sweden (Nasdaq Stockholm VOLCAR B), providing sales, marketing, parts, service, technology, and training support to Volvo automobile retailers in the United States since the 1950s. Operations also include a manufacturing campus in Ridgeville, SC that underlines the company’s long-term commitment to the United States as a key market. In addition, VCUSA maintains offices in California and parts distribution and training centers across the country. More information is available on the Volvo Car USA media website.
For the full year 2024, Volvo Car Group recorded a record-breaking core operating profit of SEK 27 billion. Revenue in 2024 amounted to an all-time high of SEK 400.2 billion, while global sales reached a record 763,389 cars.
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.
As of December 2024, Volvo Cars employed approximately 42,600 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
Bank of America Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Sophia Durr, AuroriVolvo Car USA
Phone: 1 201-294-3448
sophia.durr@volvocars.com
Susan Atran, Bank of America
Phone: 1 646-743-0791
susan.atran@bofa.com
January 27, 2026 at 9:00 AM Eastern
Volvo Car Financial Services and Bank of America Extend Relationship Through 2030
Strategic Alliance Delivers Competitive Financing Solutions for Volvo Cars Customers and Retailers
CHARLOTTE, NC | MAHWAH, NJ — Volvo Car Financial Services (VCFS) and Bank of America (NYSE: BAC) today announced the extension of their long-standing relationship to provide auto loan and lease origination, financing, and servicing for Volvo Cars customers and Volvo Cars’ 280 U.S. retailers. The collaboration, which began in 2012, will now continue through 2030.
“Bank of America has been a trusted partner for over a decade, assisting Volvo Cars customers in financing and enjoying their vehicles,” said Robert Manna, President of Volvo Car Financial Services. “By extending this relationship through 2030, we are reaffirming our commitment to providing competitive financing options and a high-quality experience for both customers and retailers.”
“We are thrilled to extend our strategic partnership with Volvo Cars,” said Roger Boschulte, Head of Vehicle and Home Lending Products at Bank of America. “This extension reinforces our shared focus on delivering a smooth and flexible financing experience designed to make vehicle ownership easy and accessible.”
VCFS is one of the only U.S. luxury automotive captive finance organizations with a third-party bank-sourced funding model, offering highly competitive loan and lease products for new, used, and certified pre-owned Volvo Cars vehicles. Through our strategic alliance, Volvo Cars customers benefit from Bank of America’s proprietary underwriting capabilities and top-notch servicing platform.
By combining VCFS’s customized programs with Bank of America’s technology and service strength, the relationship offers competitive rates, flexible options, and ongoing support, from application to the duration of the loan or lease.
Volvo Car Financial Services U.S., LLC is a wholly owned subsidiary of Volvo Car Corporation of Gothenburg, Sweden, and provides financial services and products to Volvo Car customers and Volvo Car retailers in the United States.
Headquartered in Mahwah, New Jersey, Volvo Car USA LLC (VCUSA) is a subsidiary of Volvo Car Group of Gothenburg, Sweden (Nasdaq Stockholm VOLCAR B), providing sales, marketing, parts, service, technology, and training support to Volvo automobile retailers in the United States since the 1950s. Operations also include a manufacturing campus in Ridgeville, SC that underlines the company’s long-term commitment to the United States as a key market. In addition, VCUSA maintains offices in California and parts distribution and training centers across the country. More information is available on the Volvo Car USA media website.
For the full year 2024, Volvo Car Group recorded a record-breaking core operating profit of SEK 27 billion. Revenue in 2024 amounted to an all-time high of SEK 400.2 billion, while global sales reached a record 763,389 cars.
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands in the world with sales to customers in more than 100 countries. Volvo Cars is listed on the Nasdaq Stockholm exchange, where it is traded under the ticker “VOLCAR B”.
"For life. To give people the freedom to move in a personal, sustainable and safe way." This purpose is reflected in Volvo Cars' ambition to become a fully electric car maker and in its commitment to an ongoing reduction of its carbon footprint, with the ambition to achieve net-zero greenhouse gas emissions by 2040.
As of December 2024, Volvo Cars employed approximately 42,600 full-time employees. Volvo Cars' head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars' production plants are located in Gothenburg, Ghent (Belgium), South Carolina (US), Chengdu, Daqing and Taizhou (China). The company also has R&D and design centres in Gothenburg and Shanghai (China).
Bank of America Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Sophia Durr, AuroriVolvo Car USA
Phone: 1 201-294-3448
sophia.durr@volvocars.com
Susan Atran, Bank of America
Phone: 1 646-743-0791
susan.atran@bofa.com
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