Fleet News

Volvo promotes Jonny Miller to focus on residual values

Volvo Jonny Miller

Volvo has restructured its national leasing team to increase its focus on residual values.

Jonny Miller will now oversee the company’s relationship with the leasing industry, as well as managing the residual values of new Volvo products as national leasing and residual value manager.

John Isaac steps into his shoes as southern regional leasing manager after stints working for Fiat Chrysler Automobiles and Dekra.

Elaine Johnstone continues in her current role as northern regional leasing manager.

Miller has been with Volvo for almost two years and previously spent four years with Glass’s Information Services looking after manufacturer relationships, prior to which he was group remarketing manager (used cars) at Fiat Chrysler Automobiles.

His team will be working even more closely with the data providers and leasing companies to provide the extensive information needed to set accurate residual values that are highly competitive in the marketplace, particularly for user choosers. This includes new vehicle launches, platform information, technology developments and the brand’s engine strategy.

Miller said: “As a premium brand, a focus on residual values is essential if Volvo is to continue to grow its presence in the leasing sector.

“Having the dedicated and focused leasing team responsible for monitoring and improving residual values and whole life costs, maintains our competitive edge within the leasing sector. The focus on residual value maintenance and improvement, along with our deep understanding of the influencing factors and drivers will ensure our product offering is right for the business user,” he added.

Following the XC60 and XC40 launches, the fleet team is now concentrating on the arrival of the new V60 which has already received class-leading residual values.

Cap HPI estimate the V60 D4 Momentum will be worth 44.9% of its cost new price after three years and 30,000 miles. Higher mileage drivers still benefit, with the same model worth 37.9% of its cost new price after three years and 60,000 miles.

Steve Beattie, Volvo Car UK’s head of business sales, said: “Strong relationships and a thorough understanding of the leasing sector are critical for Volvo to continue its momentum in the fleet sector.

“Jonny understands the dynamics of residual value setting, including the positive and negative influences in both the short and long term. His appointment puts us in a great position to ensure we do the correct things to improve our position.”

To read more about Volvo's fleet strategy and how it wants to increase true fleet sales, read our spotlight feature on the brand here.


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Comments

  • MR S - 03/05/2018 14:34

    I do like the commentary but Volvo ultimately don't take the RV risk; the market sets the price and the lease Co's set their RV's based on their experience. Just focus on delivering excellent service and product, focus on short term and medium term strategy (lower CO2 ST and movement to EV) the rest will look after itself...

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