Volkswagen Financial Services report successful first half-year 2016
- Half-year operating result totals EUR 995 million (+2.6 percent)
- New contracts up 14.4 percent to almost 3.8 million units
- Current portfolio grows 9.5 percent to almost 17.4 million contracts
On the product side, maintenance and inspection contracts for new vehicles and guarantee insurance for used vehicles recorded a particularly positive performance. Overall, the service business has shown the strongest growth. The main drivers of this development are the trend towards mobility services and the measures resulting from the Trust Campaign. In addition, the international positioning of Volkswagen Financial Services also contributed to the dynamic growth. As a result, it was possible to overcompensate the market-related challenges in Brazil and Russia through particularly strong growth in, among other countries, China, England, Poland and Mexico. The German market also showed a positive development. "We have received an equally strong tailwind during the first half of this year from our close and good collaboration with the Volkswagen Group brands as we have from our attractive product portfolio and our international positioning," says Dr. Christian Dahlheim, Chief Sales Officer of Volkswagen Financial Services AG.
All product groups registered what has in part been very strong growth. The new contracts in the vehicle financing segment amounted to 1.2 million units during the first half-year (+5.5 percent). In addition, 658,000 new leasing contracts (+15.4 percent), 765,000 new service contracts (+42.7 percent) and 1.1 million new insurance contracts (+9.2 percent) were also signed within this period.
The contract portfolio of Volkswagen Financial Services at the end of the first half-year amounted to 17.39 million units (+9.5 percent). This figure comprised 6.30 million contracts for vehicle financing (+4.1 percent), 2.75 million leasing contracts (+12.4 percent) as well as 3.11 million service contracts (+23.9 percent) and 5.24 million insurance contracts (+7.3 percent).
Good performance in Germany
Volkswagen Financial Services also recorded increased growth during the first half-year in their highest-volume market. The total number of new contract acquisitions in Germany during this period was 1.24 million units (previous-year period: 1.11 million units). This represents an increase of 12.1 percent. As a result, the overall portfolio rose to 5.85 million contracts alone in Germany by the end of June 2016 (previous year: 5.46 million contracts), an increase of 7.1 percent.
|New contracts worldwide
|June 2016||June 2015||Change in %|
|Portfolio of current contracts worldwide
|June 2016||June 2015||Change in %|
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).
Contact for press inquiries:
Marc Siedler (Press Officer)
Phone: + 49 (0)531 / 212-87675
Stefan Voges (Press Officer)
Phone: + 49 (0)531 / 212-2621
Malte Krause (Press Officer)
Phone: + 49 (0)531 / 212-5574