Volkswagen Financial Services record successful first half-year
- Half-year operating result amounts to EUR 1.231 billion (plus 5.7 percent)
- Current portfolio grows to more than 20.2 million units (plus 7.4 percent)
- New contracts increase to almost 4.2 million units (plus 8.7 percent)
For the first time, Volkswagen Financial Services have also reached a figure of more than 20 million units for their portfolio of current contracts. Growth can be observed throughout the world, whereby in Europe the fleet business is progressing particularly successfully. "We are growing internationally on a broad basis with all our products. The good collaboration with the brands of the Volkswagen Group and the strong markets in Europe and North America are a significant support," says Dr. Christian Dahlheim, Chief Sales Officer of Volkswagen Financial Services AG.
The contract portfolio of Volkswagen Financial Services amounted to 20.21 million units (+7.4 percent) at the end of the first half-year. This figure comprised 6.22 million current contracts for vehicle financing (+4.7 percent), 4.22 million leasing contracts (+14.5 percent), 4.27 million service contracts (+13.0 percent) and 5.49 million insurance contracts (+1.5 percent). In Germany, the highest-volume market of Volkswagen Financial Services, the total number of current contracts increased from 6.2 million to 6.39 million contracts, a growth of 3.1 percent.
The new contract acquisitions in the vehicle financing segment amounted to almost 1.26 million units during the first half-year (+10.9 percent). In addition, 973,000 new leasing contracts (+10.4 percent), 837,000 new service contracts (+2.6 percent) and more than 1.15 million new insurance contracts (9.8 percent) were also concluded.
|Portfolio of current contracts worldwide
|As at 30 June 2018||As at 30 June 2017||Change in %|
|New contracts worldwide
|January to June 2018
||January to June 2017||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, 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. 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 15,770 employees worldwide – including 6,670 alone in Germany. Volkswagen Financial Services report total assets of around EUR 186.9 billion, an operating result of EUR 2.5 billion euros and a portfolio of around 19.7 million current contracts (as at: 31.12.2017).
Contact for press inquiries:
Marc Siedler (Press Officer)
Phone: + 49 (0)531 / 212-87675