Volkswagen Financial Services post new record figures after first three quarters
- Current portfolio grows to over 21.2 million contracts
- New contracts increase 3.2 percent to almost 6.3 million units
- Operating profit totals EUR 2.035 billion (+6.2 percent)
New contracts for Porsche, SEAT, MAN and non-Group brand vehicles have developed very positively across all product groups. The portfolio of current contracts in Germany also increased over the same period last year: at the end of September 2019, it totaled around 6.34 million contracts (previous-year period: 6.06 million contracts), a rise of 4.5 percent.
The portfolio of current contracts on the books worldwide amounts to more than 21 million units and comprises around 6.6 million contracts for vehicle financing (+3.9 percent), 4.6 million for leasing contracts (+5.8 percent), 4.3 million for service contracts (+10.7 percent) and 5.8 million for insurance contracts (+5.5 percent).
The new contract acquisitions of almost 6.3 million units break down into around 1.8 million new vehicle financing contracts (-2.7 percent), 1.5 million new leasing contracts (+6.3 percent), 1.3 million new service contracts (+14.5 percent) and 1.7 million new insurance contracts (-0.1 percent).
|Portfolio of current contracts worldwide
|As at 30 September 2019||As at 30 September 2018||Change in %|
|New contracts worldwide
|January to September 2019
||January to September 2018||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 and Canada 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 16,267 employees worldwide – including 7,010 alone in Germany. Volkswagen Financial Services report total assets of around EUR 207.6 billion, an operating result of EUR 2.6 billion and a portfolio of around 20.3 million current contracts (as at: 31.12.2018).
Contact for press inquiries:
Marc Siedler (Press Officer)
Tel.: + 49 (0)531 / 212-87675