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Media information

16th March 2026

Volkswagen Group Mobility division posts strong
FY 2025 results

Operating Result for 2025 at EUR 3.45 billion
(+15 percent)

Earnings outlook for 2026: Significantly above FY 2025

Contract portfolio grows to 27.8 million units
(+4.3 percent)

New contracts rise by 3 percent to around 10.6 million units

Total assets increase by 1.7 percent to nearly EUR 287 billion

Volkswagen Bank deposits up EUR 9.5 billion to EUR 64.5 billion (+17.3 percent)

Number of employees worldwide totals 17,923
(-0.7 percent), in Germany at 7,417 (-1.1 percent)

Volkswagen Financial Services Overseas AG: Positive developments in volume and earnings, penetration rates increase in South America and China

The Volkswagen Group Mobility business division of Volkswagen AG has concluded the 2025 financial year with a strong Operating Result of EUR 3.45 billion – this marks an increase of around 15 percent compared to the previous year. For the 2026 financial year – subject to current and future macroeconomic and political developments – an Operating Result significantly above that of 2025 is expected. New record highs were achieved in the contract portfolio and new business categories within the Volkswagen Group Mobility division: the portfolio of current contracts grew by 4.3 percent to 27.8 million units, while the number of new contracts rose by three percent to 10.6 million units. Total assets also increased during 2025, rising 1.7 percent to around EUR 287 billion. In contrast, the total number of employees worldwide decreased to 17,923 (-0.7 percent), with a decline of 1.1 percent in Germany to 7,417 employees. Volkswagen Financial Services Overseas AG, which manages the non-European financial services business, also recorded positive developments in volume, earnings, and penetration rates.

Dr. Christian Dahlheim

Anthony Bandmann,
CEO of Volkswagen Financial Services AG

"We are delighted to have achieved further growth in our core business. Our business model has once again proven to be resilient and profitable. Despite the challenging economic and political circumstances, we were able to continue our successful course – particularly in the leasing and services business – and in some areas set new records. We welcome government incentives for new electric vehicles and would like to see them extended to young used electric vehicles, as this would broaden the range of options available, especially for price-sensitive customers. The fact that our products continue to impress and find approval with our customers is reflected in our penetration rates, which we have further increased in almost all relevant markets. In Germany alone, almost 70 percent of all vehicles delivered by the Volkswagen Group are managed through our books, and for electric vehicles the figure is 82 percent. This confirms that we are strategically on the right track and, with a clear focus on our core business, are providing an important building block for the transformation of the Volkswagen Group."

Kai Vogler

Dr. Ingrun Ulla Bartölke,
CFO of Volkswagen Financial Services AG

"We are very satisfied with the Operating Result for 2025 given the persistently difficult conditions worldwide. The key drivers of the result have been higher contract volumes in the leasing and services business, a further improved margin due to the expiry of low-margin contracts, high cost discipline, and the stabilization of our US business. The deposit business of our direct bank, which is an important part of our diversified refinancing strategy, has continued its growth trajectory. With a deposit volume of EUR 64.5 billion, we have achieved a new peak."

Dr. Christian Dahlheim

Dr. Wolf-Stefan Specht, 
CEO of Volkswagen Financial Services Overseas AG

 

"We are satisfied with how our overseas markets have performed despite a difficult market environment. The positive developments are based on growth in the contract portfolio and in new contracts, which in some cases exceeded 20 percent. The South American markets, with their increased penetration rates, and the insurance business are particularly worth singling out. We are especially pleased that the important Chinese market is also on the upswing again, with the penetration rate rising there as well. In terms of earnings, we have improved by almost 15 percent with a result of EUR 528 million."

Electric mobility and financial services – A dynamic duo that continues to grow
The companies of Volkswagen Group Mobility have been supporting the market ramp-up of electromobility since the beginning. During the 2025 financial year, strong growth was again recorded in both new and existing contracts for battery-electric vehicles (BEVs): worldwide new BEV contracts increased by 72.4 percent year-on-year to 555,000 units. The total BEV contract portfolio grew by almost 50 percent to reach 1.01 million units. The BEV penetration rate in Germany at the end of 2025 stood at 82 percent.

Cost discipline as tradition
Cost discipline is not just lip service for the companies of Volkswagen Group Mobility, but a strategic tradition to make sure that we remain competitive at all times. As part of the FUTURE efficiency program, key processes are being digitized and stable IT costs ensured. This is complemented by the further expansion of digital application processes and the continued development of numerous AI-based use cases, such as in pricing and optimizing offers for used cars.

Deposits at Volkswagen Bank continue to grow
Customer deposits at the direct bank remain an essential component of the refinancing mix. In 2025, deposits rose by 17.3 percent from EUR 55 billion (as at 31.12.2024) to EUR 64.5 billion, once again reaching a new record high. Key factors for this growth were the campaigns to attract new customers and loyalty activities for existing customers. In addition, more than one million new deposit accounts for private and corporate customers were opened in Germany. The goal for 2026 is to further expand the deposit volume for refinancing.

Used car and insurance businesses are growth areas
The successful international marketing of used cars is crucial for the steadily growing leasing business. In 2025 alone, 481,000 used cars were marketed in Europe, an increase of over nine percent. Targeted sales measures with the Group brands will continue to strengthen the used car business in 2026. The signs are also pointing to growth in the European motor insurance business.

Development of current contracts and new contracts 2024 vs. 2025

Current contracts worldwide

(in thousands*)

31 December 2025

31 December 2024

Change in %

Financing

4,837

4,968

- 2.6

Leasing

5,707

5,241

+ 8.9

Services

6,726

6,244

+ 7.7

Insurance

10,539

10,215

+ 3.2

Total

27,810

26,668

+ 4.3

New contracts worldwide

(in thousands*)

January to December 2025

January to December 2024

Change in %

Financing

1,787

1,754

+ 1.9

Leasing

2,326

2,187

+ 6.4

Services

2,451

2,324

+ 5.5

Insurance

4,039

4,026

+ 0.3

Total

10,603

10,291

+ 3.0

*rounded figures

About the Volkswagen Group Mobility business division

Volkswagen Group Mobility is a business division of the Volkswagen AG group of companies and comprises Volkswagen Financial Services AG along with its subsidiaries and affiliates (e.g. Volkswagen Bank GmbH and Volkswagen Leasing GmbH), Volkswagen Financial Services Overseas AG, Porsche Financial Services GmbH, Volkswagen Credit Inc. (USA) and Volkswagen Credit Canada Inc. The key business fields embrace dealer and customer financing, leasing, bank and insurance activities, fleet management, and mobility services. The companies of Volkswagen Group Mobility have a total of 17,923 employees worldwide – including 7,417 alone in Germany. Volkswagen Group Mobility reports total assets of around EUR 287 billion, an operating profit of EUR 3.45 billion, and a portfolio of around 27.8 million current contracts (as at 31.12.2025).

The Board of Management of Volkswagen Financial Services AG and Volkswagen Financial Overseas AG report on the Volkswagen Group Mobility business division for Volkswagen AG as part of the financial reporting.

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