Volkswagen Group Financial Services

The Financial Services Division combines the Volkswagen Group’s dealer and customer financing, leasing, banking and insurance activities, fleet management and mobility offerings. The division comprises Volkswagen Financial Services (including the financial services business of MAN Finance International GmbH since January 1, 2014) and the financial services activities of Scania, Porsche and Porsche Holding Salzburg.

The number of new contracts signed worldwide in the Customer Financing/Leasing and Service/Insurance areas rose by 3.9% year-on-year in 2015 to 5.6 million. The total number of contracts was 14.4 million as of the end of 2015, surpassing the figure at the prior-year reporting date by 7.3%. The number of contracts in the Customer Financing/Leasing area was up by 6.6% to 8.9 million, while the number of contracts in the Service/Insurance area increased by 8.6% to 5.5 million. The ratio of leased or financed vehicles to Group deliveries (penetration rate) increased to 31.5 (30.7)% in the Financial Services Division’s markets.

In Europe/Other markets, 4.0 million new contracts were signed in the reporting period, 8.8% more than in the previous year. The number of contracts was up 10.0% to 10.3 million as of December 31, 2015. This included 5.5 million contracts in the Customer Financing/Leasing area, an increase of 7.3% on the figure for 2014. At the same time, the share of leased or financed vehicles increased from 43.6% to 44.3% of deliveries.

In North America, the Financial Services Division added 814 thousand new contracts, up 0.6% year-on-year. The total number of contracts stood at 2.1 million (−0.9%). Of this figure, 1.7 million were attributable to the Customer Financing/Leasing area, 8.0% more than in the previous year. The penetration rate in North America rose to 61.8 (56.8)%.

In South America, 262 thousand new contracts were signed in the reporting period (−16.7%). The number of contracts was down 8.6% year-on-year to 756 thousand contracts as of year-end 2015. The majority of these were attributable to the Customer Financing/ Leasing area. The penetration rate in South America was 35.5 (33.1)%.

In the Asia-Pacific region, 530 thousand new contracts were signed during the reporting period, an 11.1% decrease on the prior-year figure. The total number of contracts amounted to 1.2 million (+12.0%), of which 996 thousand were attributable to the Customer Financing/Leasing area (+15.5%). The share of leased or financed vehicles in the region decreased from 13.1% to 11.6% of deliveries.