Volkswagen Financial Services AG, Braunschweig, which was founded in 1994, is a wholly owned subsidiary of Volkswagen AG. The Braunschweig-based company pursues the goal of promoting the sales of products from the Volkswagen Group and its trading partners. Another important aspect is the strengthening of the bond between the costumers and the company’s brands. Volkswagen Financial Services AG has a sustained impact on the automotive value-added chain through its extensive financial service activities.
With a balance-sheet total of 76,9 billion euros and current contracts totalling 6,85 million , Volkswagen Financial Services AG is the largest provider of automotive financial services in Europe. At present the company employs 7,322 staff worldwide, 4,599 of which work in Germany.
(ball figures as at December 31st, 2011)
Volkswagen Financial Services AG is responsible for coordinating the worldwide financial services business of the Volkswagen Group. It is affiliated with companies in 38 countries through shareholdings and service agreements. Affiliated companies such as Volkswagen Bank and Volkswagen Leasing GmbH are responsible for the company´s operating business.
In those markets in which Volkswagen Financial Services AG is represented, the company finances or leases about every third vehicle from the Volkswagen Group on average. In their customer acquisition and support, the Volkswagen financial services providers work closely together with the extensive dealership organisations of the Volkswagen Group.
In Germany, Volkswagen Financial Services AG serves the market with its operative subsidiaries Volkswagen Leasing GmbH, Volkswagen Versicherungsdienst GmbH and Volkswagen Bank GmbH and its business division Volkswagen Bank direct.