Press release

March 4, 2019

Closer to the customer: Volkswagen Financial Services reorganise their sales to fleet customers

Smaller sales regions to focus more effectively on corporate customers and dealers

Integrated consulting approach embracing all mobility services

Implementation Managers to ensure smooth-running operations in future

Strengthening of the multi-brand business as full-service provider

Braunschweig, 4 March 2019. Volkswagen Financial Services are reorganising their sales to fleet customers. In particular, the harmonisation and reduction of the sales regions will ensure improved care and support for the customers and dealer partners. The Key Account Managers will in future be advising their customers in all aspects of mobility – from financing, full-service leasing, long-term rental, fuel cards and insurance through to complete fleet management solutions. Fleet customers will also receive additional support from Implementation Managers, who will manage and document all the transaction processing between the customer, Volkswagen Financial Services, the dealer partners and other service providers. Moreover, Volkswagen Financial Services are also driving their independent multi-brand business. "For us, standing still is the same as taking a step backwards. Despite the positive development of our business performance during recent years, we must continue to improve ourselves," says Knut Krösche, Managing Director of Volkswagen Leasing GmbH. He adds: "There have, in particular, been explicit customer requests for improved personal support and a perspective that embraces the entire fleet, wishes that we have now implemented very effectively."

Volkswagen Financial Services are now focusing on the entire fleet in future. This includes not only the brands belonging to the Volkswagen Group but also those from other manufacturers, which are also procured at attractive leasing conditions. "Our customers want to be as flexible as possible and have a provider by their side who takes all aspects of their vehicle fleet into account. As a result, we are transforming ourselves into a single-source provider for mobility," Krösche says. The proportion of vehicles from non-Volkswagen brands is to reach a figure of around 15 to 20 percent over the medium term.

The newly established Key Account Managers will in future be looking after fleets of 100 vehicles or more. These customers will also have a permanent contact in the customer service department of Volkswagen Leasing GmbH to ensure that business transactions are carried out with the greatest possible transparency and reliability. To care for fleets below this level, Volkswagen Financial Services work closely with the so-called Corporate Customer Service Centres operated by the Volkswagen Group dealers. To strengthen the position of dealer partners without such a facility, dealership and key customer advisors have been specially trained. These specialists are at the disposal of the respective dealers to provide advice on sales issues by way of support from Braunschweig.

The two sales regions that existed to date have now become three. The size of the individual sales areas has been reduced to provide more effective care and support. The Key Account Managers now advise their customers in all product categories: from leasing, financing, long-term rental and services through to new areas and aspects such as intermodal mobility or establishing e-vehicles in the fleet – including infrastructure consulting. "We are becoming much more involved in fleet consulting than before and have therefore trained all our Key Account Managers to become certified fleet advisors," Krösche explains.

The special customers and public authorities segment will also be restructured as part of the new customer consulting concept. This includes a clear clustering in the domain of Government Agencies & Direct Customers (e.g. federal and state authorities, federal and state police, local government authorities) as well as Special Target Groups & Car Rental Companies (e.g. taxis, nursing services, charities, driving schools, clubs, providers of courier, express and parcel services).

Customers will be enjoying the benefits of this new corporate customer consulting concept from April 2019 onwards.

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).

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