Press Releases

date

 
Braunschweig,
May 7, 2018

Volkswagen Financial Services start 2018 with good first quarter

Volkswagen Financial Services have started off well in 2018 and increased their total contract portfolio and new contract acquisitions in all product segments during the first quarter. "Following our successful financial year 2017, we have also made a good start to the new year. We have performed particularly well in Asia. The strong growth in service contracts shows that we are meeting customer demand for additional car-related services," says Dr. Christian Dahlheim, Chief Sales Officer of Volkswagen Financial Services AG. The markets of China, Japan and Italy showed particularly positive development. Overall, the level of new contracts rose by almost nine percent compared with the same quarter last year to 1.99 million units. The portfolio of current contracts grew by over eight percent to reach 19.9 million units.

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Braunschweig,
April 23, 2018

Volkswagen Bank GmbH has securitised Italian auto loans for the first time

Volkswagen Bank GmbH has securitised Italian automobile credits and placed with investors for the first time. The Auto ABS (Asset Backed Securities) transaction Driver Italia one is secured solely by receivables of the Italian branch of the Volkswagen Bank GmbH. The securitisation transaction has a volume of more than 500 million euros.

 

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Braunschweig,
April 17, 2018

Volkswagen Financial Services invest in software company

Volkswagen Financial Services are continuing the systematic implementation of their digitalisation strategy and strengthening their IT competence through an indirect majority stake in the Portuguese software company VTXRM. With its "Accipiens" software, the company covers the entire spectrum of electronic contract processing for financial and leasing companies and is already used by Volkswagen Financial Services in numerous countries.

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Braunschweig,
April 6, 2018

Volkswagen Financial Services place Auto ABS in Australian dollars (AUD)

Volkswagen Financial Services have securitised receivables totalling over 750 million Australian dollars (AUD) (around EUR 470 million) and successfully placed the transaction with investors. The Auto ABS (Asset Backed Securities) transaction Driver Australia five is secured solely by receivables of Volkswagen Financial Services Australia Pty Ltd. Driver Australia five is the highest-volume Auto ABS transaction conducted up to now by Volkswagen Financial Services in Australian dollars.

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Braunschweig,
April 6, 2018

Volkswagen Financial Services place bonds worth 2.25 billion euros

Volkswagen Financial Services AG has placed three bonds with a total volume of 2.25 billion euros. Standard & Poor's and Moody's are expected to rate the issue with BBB+ and A3 respectively. Altogether, the transaction was oversubscribed more than two times.

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Braunschweig/Frankfurt am Main,
March 19, 2018

Volkswagen Financial Services achieve record result again in 2017

Volkswagen Financial Services have concluded the financial year 2017 with a new record result. As a result of the digitalisation of the business model, an increase in efficiency amounting to one billion euros will be realised by 2025. "2017 has been very successful for Volkswagen Financial Services. We are very satisfied with the result," says Lars Henner Santelmann, the Chairman of the Board of Management of Volkswagen Financial Services AG. Frank Fiedler, Chief Financial Officer of Volkswagen Financial Services AG, adds: "The good result was primarily based on the positive growth of our current contract portfolio and a lower level of refinancing and risk costs than in the previous year."

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Braunschweig,
March 15, 2018

Volkswagen Financial Services placed Auto ABS in Euro

Volkswagen Financial Services have successfully placed the Auto Asset-Backed Securities (ABS) transaction VCL 26 on the market. The transaction to securitise leasing contracts of Volkswagen Leasing GmbH has a total volume of more than one billion Euros.

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Braunschweig,
February 14, 2018

Volkswagen Bank successfully markets Asset-Backed Securities

Volkswagen Bank GmbH has successfully placed its 14th Auto Asset-Backed Securities (ABS) transaction, Driver 14, on the market. The issue securitises vehicle financing contracts and has a total volume of around EUR 850 million. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 12 basis points, and the Class B Notes at plus 37 basis points. The order books were oversubscribed 2.7 times (Class A) and 1.3 times (Class B) at placement pricing levels.

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