VOLVO CAR UK LIMITED
Company Information
- Company Number
- 02281044
- Registered Address
- Scandinavia House, Norreys Drive, Maidenhead, Berkshire, SL6 4FL
- Status
- Active
- Employee Count
- 312.0
- Turnover
- 1417118000.0
- EBITDA
- 10308000.0
Additional Details
- Company Type
- Private limited Company
- Incorporated On
- 27 July 1988
- Nature of Business
- 45111 - Sale of new cars and light motor vehicles
- Industries
- Travel And Transportation
- Region
- South East
Company Location
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Financial Metrics
Time to Pay
Payment Timeline
Payment Features
Payment Time Trends
Payment Distribution Trends
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2023 - 31 Dec 2023 | 31 Jan 2024 | 24 | 89% | 7% | 4% | 11% |
| 01 Jan 2023 - 30 Jun 2023 | 24 Jul 2023 | 35 | 80% | 13% | 7% | 20% |
| 01 Jul 2022 - 31 Dec 2022 | 28 Feb 2023 | 40 | 67% | 21% | 12% | 33% |
| 01 Jan 2022 - 30 Jun 2022 | 20 Jul 2022 | 33 | 72% | 17% | 11% | 28% |
| 01 Jul 2021 - 31 Dec 2021 | 02 Feb 2022 | 37 | 70% | 18% | 12% | 30% |
| 01 Jan 2021 - 30 Jun 2021 | 15 Jul 2021 | 37 | 68% | 20% | 12% | 32% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Jan 2021 | 42 | 56% | 34% | 10% | 44% |
| 01 Jan 2020 - 30 Jun 2020 | 21 Jul 2020 | 36 | 60% | 28% | 13% | 40% |
| 01 Jul 2019 - 31 Dec 2019 | 30 Jan 2020 | 28 | 80% | 15% | 5% | 20% |
| 01 Jan 2019 - 30 Jun 2019 | 26 Jul 2019 | 30 | 75% | 19% | 6% | 25% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 33 | 72% | 20% | 8% | 28% |
| 01 Jan 2018 - 30 Jun 2018 | 27 Jul 2018 | 36 | 66% | 24% | 10% | 34% |
Company Summary
Volvo Car UK Limited is a subsidiary of the Swedish car manufacturer, Volvo Car Corporation
The company is responsible for the distribution, sales and marketing of Volvo cars in the UK market
They have a strong focus on sustainability and have implemented various initiatives to reduce their environmental impact
Their sustainability program includes a commitment to become a carbon-neutral company by 2025, as well as using 25% recycled plastic in all new cars by 2025
They also have a goal to have 50% of their global sales consist of fully electric cars by 2025
In addition, they have implemented a circular economy approach, where they aim to reuse and recycle materials in their production process
Volvo Car UK Limited offers a wide range of products and services, including sedans, SUVs, and electric and hybrid vehicles
Their cars are known for their high-quality, safety features, and innovative technology
They also offer various services such as maintenance, warranty, and roadside assistance
The key people at Volvo Car UK Limited include Kristian Elvefors, the Managing Director, who has over 20 years of experience in the automotive industry, and David Baddeley, the Finance Director, who has been with the company for over 10 years
For more information on their products, services, and sustainability initiatives, you can visit their website at www.volvocars.com/uk
Their registered office address is Volvo Car UK Limited, Scandinavia House, Norreys Drive, Maidenhead, Berkshire, SL6 4FL
Company Review
Trend Analysis
The trend for Volvo Car UK Limited's average time to pay invoices has been fluctuating over the past three periods, with a slight decrease in the latest period. There has also been an overall decrease in the percentage of invoices paid within 30 days, and an increase in the percentage of invoices paid between 31 and 60 days. However, there has been a decrease in the percentage of invoices paid later than 60 days and not within agreed terms in the latest period.
Volatility Analysis
There has been some volatility in Volvo Car UK Limited's average time to pay invoices over the past three periods, with a decrease followed by an increase and then another decrease. There has also been volatility in the percentage of invoices paid within 30 days, with a decrease followed by an increase and then another decrease. However, the percentage of invoices paid between 31 and 60 days has been consistently increasing over the past three periods.
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Standard Volvo Car UK Ltd (“VCUK”) contractual payment terms for goods and services are 45 days from the date of valid invoice. Other individual contracts may vary.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
N/A
Maximum contractual payment period agreed
45
Dispute Resolution Process
VCUK has a dedicated Finance Service Centre (based in Madrid). Vendors with invoice queries need to contact this team by raising a ticket via a web-based tool or by phone. The Finance Service Centre would seek to deal with any disputes promptly (in line with their Service Level Agreement with VCUK) involving VCUK contacts as needed, and will work with the supplier to resolve payment issues or disputes in accordance with internal investigation and escalation procedures.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
