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

Catlin takes the reins of the business which provides wholesale funding to Volvo Cars’ UK retail network and 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 responses to changing market dynamics.

Volvo Cars said Catlin has extensive experience in the UK automotive sector, having held senior roles with manufacturers.

He joins the company from Volkswagen Group UK where he was most recently director of sales, people, and network development for Audi UK.

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.”

Commenting on his appointment, Catlin 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.”

Catlin starts his position today (September 1) following the retirement of managing director, David Baddeley, yesterday (August 31).