Braunschweig 31 October 2016
Volkswagen Financial Services well on course after nine months
• New contracts up 13.7 percent to almost 5.66 million units
• Current portfolio grows 10.3 percent to more than 17.85 million contracts
Volkswagen Financial Services remain on growth course after the third quarter of 2016. New contract acquisitions worldwide increased by 13.7 percent to around 5.66 million. The overall level of current contracts also showed a significant rise of 10.3 percent compared to the same period last year and reached a figure of more than 17.85 million at the end of September. "After nine months we can be very satisfied with our contract growth. We are well on course and making good progress in all key markets," says Dr. Christian Dahlheim, Chief Sales Officer of Volkswagen Financial Services AG. He adds: "The growth is being driven above all by our broad international positioning." A high volume of new contracts has been particularly recorded in the markets of China, Germany, Poland, Mexico and the United Kingdom.
The new contracts in the vehicle financing segment amounted to 1.9 million units (+6.5 percent) during the first nine months of the year. In addition, 989,000 new leasing contracts (+13.0 percent), 1.2 million new service contracts (+41.8 percent) and more than 1.6 million new insurance contracts (+7.5 percent) were also signed within this period.
Total contract portfolio
The contract portfolio of Volkswagen Financial Services at the end of the first nine months amounted to more than 17.85 million units (+10.3 percent). This figure comprised 6.39 million contracts for vehicle financing (+4.7 percent), 2.78 million leasing contracts (+10.7 percent) as well as 3.27 million service contracts (+25.2 percent) and 5.41 million insurance contracts (+9.1 percent).
Positive development in the German market
Volkswagen Financial Services also recorded increased growth during the first nine months of 2016 in their highest-volume market. The total number of new contract acquisitions in Germany during this period was 1.87 million units (previous-year period: 1.67 million units). This represents an increase of 12.0 percent. As a result, the overall portfolio rose to 5.97 million contracts alone in Germany by the end of September 2016 (previous year: 5.56 million contracts), an increase of 7.4 percent.
New contracts worldwide
Change in %
Portfolio of current contracts worldwide
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 15,182 employees worldwide – including 6,513 alone in Germany. Volkswagen Financial Services reports total assets of around EUR 157.9 billion, an operating result of EUR 1.9 billion and a portfolio of around 16.6 million current contracts (as at: 31.12.2015).
Contacts for press
Volkswagen Financial Services