Braunschweig, 2nd February 2016
Volkswagen Financial Services record a solid increase in contracts in Germany during 2015
• Used car business is growth driver
• Services increasingly in demand
• Residual values of Group vehicles stable
Volkswagen Financial Services have ended the 2015 financial year with a significant increase in new contracts (new and used cars) in their leasing and financing business on the German market. The number of new contracts added to the portfolio in this segment exceeded the one million mark for the first time with a figure of 1.01 million contracts (2014: 981,000), which represents a rise of around three percent. The figure includes 301,000 new contracts for used vehicles (2014: 268,000), a plus of 12.3 percent. "In the context of the continued challenging market situation, we are very satisfied with the contract development during the past year. We have achieved very good sales results, particularly in the used car business," said Anthony Bandmann, Spokesman of the Board of Management of Volkswagen Bank GmbH. Dr. Christian Dahlheim, the new Chief Sales Officer of Volkswagen Financial Services AG, added: "We will continue to expand the used vehicle and service business both in Germany and internationally. The stable resale values of Volkswagen Group vehicles in many key markets provide a solid basis for us to do so."
In the new vehicle segment, the new contract acquisitions among fleet customers particularly stood out with an increase to a total of around 413,000 contracts (2014: 402,000). The level of new contracts in this segment is now therefore around 2.7 percent higher than the previous year.
In the insurance and services segment, the successful development of recent years has also continued. For example, Volkswagen Financial Services were able to conclude around 694,000 new insurance contracts in Germany during the year just ended (2014: 678,000), an increase of 2.4 percent over the previous year. These included around 445,000 guarantee insurance contracts (2014: 422,000), a figure that is around 5.5 percent higher than in 2014. The level of service contracts showed an increase to around 555,000 contracts (2014: 490,000), a plus of 13.3 percent.
As a result, Volkswagen Financial Services have a current portfolio of more than 2.58 million financing and leasing contracts (2014: 2.49 million) alone in Germany as at the end of last year, which represents an increase of 3.6 percent. As at 31.12.2015 the insurance portfolio contains around 1.73 million contracts (2014: 1.68 million), which is a rise of around three percent. The total number of service contracts on the books at the end of last year amounted to 1.34 million contracts (2014: 1.18 million), an increase of 13.6 percent.
Information for editors
Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies and the financial service companies in the USA, Canada, Argentina and Spain that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania and Porsche brands and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 12,821 employees worldwide – including 6,254 alone in Germany (as at: 31.12.2014). The Annual Report 2014 of Volkswagen AG reported total assets for Volkswagen Financial Services of around EUR 137.4 billion, an operating result of EUR 1.7 billion and a portfolio of around 12.4 million current contracts.
Contacts for press inquiries:
Volkswagen Financial Services
Stefan Voges (Press Spokesman)
Tel.: +49 (0)531 / 212-2621
Marc Siedler (Press Spokesman)
Tel.: +49 (0)531 / 212-87675
Malte Krause (Press Spokesman)
Tel.: +49 (0)531 / 212-5574