Press Release

May 3, 2021

Volkswagen Financial Services start up business in Denmark

Attractive financial services covering every aspect of the vehicle

  • Joint venture between Volkswagen Financial Services and the Danish company Semler Gruppen A/S

Goal: to become the leading digital automotive financial services company in Denmark

Braunschweig, Brøndby, 3 May 2021. Volkswagen Semler Finans Danmark A/S, a joint venture between Volkswagen Financial Services and the Semler Group, which imports and sells the Volkswagen Group brands, starts operational business in Denmark today. The new company offers vehicle financing, leasing, insurance and service contracts, such as maintenance & wear-and-tear, for both new and used vehicles for the Volkswagen Group brands.

"We are very pleased that we are now launching our financial services business in our neighboring country Denmark as well and thus unlocking further growth potential. Together with our experienced colleagues from Semler, we will be offering a wide range of vehicle- and customer-related services in Denmark in order to promote the sales of the Volkswagen Group," says Lars Henner Santelmann, CEO of Volkswagen Financial Services AG.

"We want to create a win-win-win situation – for our customers, the dealers and the Volkswagen Group brands. Our goal is to become the leading digital automotive financial services company in Denmark," says Rene Sterregaard, Managing Director Front Office at Volkswagen Semler Finans Danmark A/S.

The company is starting out with around 55 employees in Brøndby. Volkswagen Financial Services own 51 percent of the shares in the joint venture and the Semler Group owns 49 percent.

According to the Danish Car Importers Association, 198.125 new vehicles were registered in Denmark in 2020. 49,486 of these came from the brands of the Volkswagen Group. In the Danish car market, similar to Germany, around 70-80 percent of all vehicles are financed or leased.

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 16,558 employees worldwide – including 7,472 alone in Germany. Volkswagen Financial Services report total assets of around EUR 225.6 billion, an operating result of EUR 2.8 billion and a portfolio of around 21.9 million current contracts (as at: 31.12.2020).

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