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Tony Nicolosi confirmed as Volvo's North American CEO

This past October, John Maloney stepped down from his post as CEO at Volvo Cars North America. In his place, the Swedish automaker tentatively promoted Tony Nicolosi, who had until then served as head of Volvo Car Financial Services. The appointment was reportedly temporary, giving Nicolosi the title of acting CEO. But according to Automotive News, his position has now been confirmed for the long run.
Although Volvo has yet to announce a new director for its financial arm, Nicolosi says they have found the right person and will announce sometime between now and the National Automobile Dealers Association convention, set to take place later this month in New Orleans.
Last month, Volvo also announced that its global communications chief Bodil Eriksson is moving from the home office in Gothenburg to the North American office in Rockleigh, New Jersey. Anders Kärrberg has been promoted from the government affairs post to take Eriksson's place.

Tony Nicolosi named CEO of Volvo Cars North America

Volvo announced today that it has named Tony Nicolosi, president and CEO of Volvo Car Financial Services VCFS), as the new CEO of Volvo Cars of North America (VCNA). Nicolosi replaces John Maloney, who chose to leave due to family obligations after Volvo offered him a position in Europe.
Volvo says Nicolosi will remain president and CEO of VCFS while he assumes VCNA's top position. The Swedish automaker also says a "permanent successor [to Maloney] as President and CEO will be the subject of a later announcement."
The move comes as part of a management shakeup that's part of a "larger transformation taking place at Volvo," the automaker says.

Volvo buyers have best credit scores among all auto shoppers

Experian, the US credit reporting agency, recently concluded a study into the financing and credit scores of US car buyers. One of the prime findings was that Volvo buyers enjoy the strongest credit scores among new car shoppers from all brands (nota bene, these are Experian's own numbers and can differ from other agencies). Unlike the Forbes report on the same story, though, we don't find that surprising at all, nor do we think it necessarily helps Volvo's upscale brand aspirations. The Gothenburg-based carmaker has sold its wares on tank-like safety for decades, so it seems natural that its buyers would be just as safe with and attentive to their credit scores as they are with their choice of vehicle.
Audi was ranked fourth by consumer credit score, Porsche seventh and Mercedes-Benz ninth, yet the fact that Volvo outranks them in this metric is probably a plus to its bottom line but not necessarily its image. It's not unfair to say more people desire those other luxury brands - Volvo itself has admitted as much - and people in the throes of desire have been known to be a little more let-it-ride about things like credit scores. The differences aren't huge, though: compared to Volvo's 818, Audi shoppers scored at 813, Mercedes shoppers 802. Lexus and Acura intenders took the other two steps on the top-credit-scores podium.
Mitsubishi took the honors at the other end of the charts, Experian finding that its potential customers, with an average of 604, had the lowest scores. Mitsubishi was followed by Suzuki and Dodge. On the other side of the financing table, Toyota led the way in how many of its vehicles were bought with bank assistance, followed closely by Ford, Chevrolet taking third place. Also of note, and for whatever it's worth, not one automaker made both the 'top ten by financing' and 'top ten by credit score' lists, but four made both the financing and 'bottom ten by credit score' lists: Chevrolet, Nissan, Kia and Dodge.