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 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 13.1% to 7.1 million contracts in 2016. At 17.4 million, the total number of contracts at the end of 2016 exceeded the figure at the prior-year reporting date by 10.0%. The underlying contract types were modified according to their significance. The number of contracts in the Customer Financing/Leasing area was up by 6.8% to 9.5 million, while it increased by 14.1% to 8.0 million contracts in the Service/Insurance area. The ratio of leased or financed vehicles to Group deliveries (penetration rate) in the Financial Services Division’s markets rose to 33.3 (31.5)% in the reporting period.

In Europe/Other markets, 5.2 million new contracts were signed in the reporting period, 14.1% more than in 2015. The number of contracts was up 10.4% to 12.4 million as of December 31, 2016. This included 5.9 million contracts in the Customer Financing/Leasing area, an increase of 7.2% on the figure for 2015. The share of leased or financed vehicles increased from 44.3% to 46.8% of deliveries.

The total number of contracts in the Financial Services Division in North America stood at 2.8 million (+13.0%). Of this figure, 1.8 million contracts were attributable to the Customer Financing/Leasing area, 6.1% more than in the previous year. With 988 thousand new contracts, the number of new contracts rose by 7.6% compared with the previous year. The penetration rate in North America increased to 63.3 (61.8)%.

In South America, 197 thousand new contracts were signed in the reporting period (−27.2%). The number of contracts was down 16.3% year-on-year to 647 thousand contracts as of year-end 2016. The majority of these were attributable to the Customer Financing/Leasing area. The penetration rate in South America was 30.4 (35.5)%.

In the Asia-Pacific region, 740 thousand new contracts were signed in the reporting year, an increase of 33.6%. The total number of contracts amounted to 1.5 million (+16.6%), of which 1.2 million contracts were attributable to the Customer Financing/Leasing area (+22.5%). The share of leased or financed vehicles in the region rose from 11.6% to 15.1% of deliveries.