Press Releases

date

 
Braunschweig,
December 13, 2017

Volkswagen Financial Services expect record earnings for the financial year 2017

Volkswagen Financial Services will be ending the financial year 2017 once again with a record result (previous year: EUR 2.1 billion) and recording a significant increase in their portfolio of current contracts. According to provisional figures, the portfolio of current contracts will have increased by over eight percent to more than 19.7 million (2016: 18.2 million). "Our successful path over the past few years has continued during the financial year 2017 and we have set course for further growth in the future with our new organisational set-up and our digitalisation projects," says Lars Henner Santelmann, Chairman of the Management Board of Volkswagen Financial Services AG.

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Braunschweig,
December 7, 2017

Volkswagen Bank GmbH places bonds worth two billion euros

Volkswagen Bank GmbH has placed three bonds with a total volume of two billion euros. This is the third euro benchmark issue by Volkswagen Financial Services this year and the first one of Volkswagen Bank GmbH since August 2014. Volkswagen Leasing GmbH had already issued public bonds in euros in June and September with a total volume of around 5.75 billion euros. Standard & Poor's and Moody's are expected to rate the issue with BBB+ and A3 respectively. Volkswagen Bank GmbH is a wholly-owned subsidiary of Volkswagen AG. The transaction has generated an investor interest of more than seven billion euros.

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Braunschweig,
November 24, 2017

Volkswagen Financial Services placed Auto ABS transaction in China

Volkswagen Financial Services have successfully placed their eights Chinese Auto Asset-Backed Securities (ABS) transaction. The securitisation transaction, Driver China eight, which is backed by vehicle financing contracts from Volkswagen Finance China, has a volume of around 3.5 billion renminbi (RMB), or approximately 499 million euros.

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Braunschweig,
November 2, 2017

Volkswagen Financial Services increase the number of current contracts in all product categories

Volkswagen Financial Services have continued to grow during the first three quarters of this year both in terms of new contracts and the total current portfolio. New contract acquisitions worldwide increased by 2.9 percent to more than 5.8 million. The overall level of current contracts rose by 6.8 percent compared to the same period last year and amounted as at 30.09.2017 to more than 19 million units for the first time.  

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Braunschweig/Berlin,
October 26, 2017

Volkswagen Financial Services launch new online used-car platform HeyCar

Volkswagen Financial Services are launching the new online used-car platform HeyCar (www.hey.car) and have founded the company Mobility Trader GmbH for this purpose. The Berlin-based, wholly-owned subsidiary of Volkswagen Financial Services AG acts as a quality platform for all automobile brands, not just for those of the Volkswagen Group. The CEO of the new start-up is Markus Kröger, who previously held management positions at PayPal and Delivery Hero.

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Braunschweig,
October 18, 2017

Volkswagen Financial Services successfully refinance themselves through Auto ABS

Volkswagen Financial Services have successfully placed the Auto Asset-Backed Securities (ABS) transaction VCL 25 on the market. The transaction to securitise leasing contracts of Volkswagen Leasing GmbH has a total volume of around EUR 1.6 billion.

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Braunschweig,
October 10, 2017

More acceptance points and toll processing: Volkswagen Financial Services extend MAN Card with LogPay network

Volkswagen Financial Services have further expanded the range of services provided with the MAN Card. Through the integration of the acceptance network of LogPay Transport Services GmbH, in which Volkswagen Financial Services AG acquired 51 percent of the shares at the beginning of the year, the acceptance network for the MAN Card is increasing by a further 6,500 filling stations to a total of 53,000 points of acceptance. In addition, toll processing for 18 European countries has been integrated through LogPay. "With the incorporation of the LogPay network, we are systematically advancing our strategy in the field of fuel and service cards. Fuel and service cards are an important growth area for us. By 2020, we intend to become one of the largest fuel suppliers in Europe and sell more than one billion litres to our customers. To this end, we are also focusing increasingly on the truck business," says Gerhard Künne, head of the newly created Mobility Unit at Volkswagen Financial Services AG. He adds: "Our target for Germany is to offer a fuel and service card that covers just under 80 percent of the German filling station network."

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Braunschweig,
September 26, 2017

Volkswagen Financial Services place bonds worth 2.25 billion euros

Volkswagen Leasing GmbH has placed two bonds with a total volume of 2.25 billion euros. This is the second euro benchmark issue by Volkswagen Financial Services this year. Volkswagen Leasing GmbH had already issued three public bonds in euros in June. All bonds are guaranteed by Volkswagen Financial Services AG. Standard & Poor's and Moody's are expected to rate the issue with BBB+ and A3 respectively. Volkswagen Leasing GmbH is a wholly-owned subsidiary of Volkswagen Financial Services AG. Altogether, the transaction was more than two times oversubscribed.

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