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, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA, Canada, and Spain that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg.
Within the financial services division, Volkswagen Financial Services AG coordinates the financial services activities of the Volkswagen Group throughout the world and is responsible for the credit business outside the European Economic Area as well as other mobility services. The sister company of Volkswagen Financial Services AG, Volkswagen Bank GmbH, is responsible for lending operations within the European Economic Area. VW CREDIT, INC. conducts financial services activities in North America.
Customer mobility is the core concern at the heart of all Volkswagen Financial Services activities. The brand promise of being "The Key to Mobility" is therefore imprinted in the DNA of all companies that make up the Volkswagen Financial Services division – in 47 markets throughout the world. The key business fields embrace automotive banking and leasing, insurance and services, and solutions for mobility and payment.
Volkswagen Financial Services are currently engaged in a wide-ranging digitalization offensive. The goal is to offer all essential mobility-related services through online channels as well in the near future. Whether for financing or leasing, for insurance, or for services in and around the vehicle and its use – we want to be there where our customers expect us to be.
The mobility industry is also in the midst of fundamental change, which is why Volkswagen Financial Services are moving forward into new business areas. E-mobility, networked vehicles and advances in infrastructure are creating new services that make driving easier and more comfortable. Paying for parking by app is an option that's already possible today with Volkswagen Financial Services in many cities.
Together with the Volkswagen Group, we will play our part in shaping the future as a mobility service provider for our customers that offers innovative and useful products and services. In 2025, too, Volkswagen Financial Services will still be one of the world's leading providers of automotive financial services.
Volkswagen Financial Services have closed the financial year 2022 very successfully. With an operating result of EUR 5.60 billion (+1.2 percent), which was again impacted by special effects, Volkswagen's financial services division recorded the second highest result in the company's history. The number of new contracts acquired worldwide declined slightly by 0.7 percent to a total of 7.777 million units (previous year: 7.8 million units). The portfolio of current contracts declined as well minimally compared with the previous year to over 21.976 million units (-0.3 percent). The total assets of the Volkswagen Financial Services business division grew to EUR 240 billion (+1.9 percent, previous year: EUR 235.6 billion).
Volkswagen Financial Services at a glance
| 2022 | 2021 | % | |||
| Number of Contracts | thousands | 21,976 | 22,033 | - 0.3 | |
| Customer financing | 5,557 | 6,151 | - 9.7 | ||
| Leasing | 4,783 | 4,770 | + 0.3 |
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| Services | 5.483 | 5,063 | + 8.3 |
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| Insurance | 6.153 | 6,048 | + 1.7 | ||
| Customer Deposits | € million | 26.000 |
26.500 | - 1,9 | |
| Total assets | € million | 240,000 | 235,600 | + 1.9 | |
| Equity | € million | 38.257 | 33.381 | + 14,6 | |
| Equity ratio | % | 15.9 | 14.2 | + 12.0 | |
| Return on equity before tax | % | 15.4 | 17.9 | - 14.0 | |
| Operating result | € million | 5,600 | 5,670 | - 1.2 | |
| Employees at Dec. 31 | 17,713 | 16,849 | + 5.1 |
