Archive 2018

date

 
Braunschweig,
November 5, 2018

Total assets of Volkswagen Financial Services exceed the EUR 200 billion mark for the first time

Volkswagen Financial Services have successfully concluded the first three quarters of this year and achieved new record results. The total assets of Volkswagen Financial Services exceeded the mark of EUR 200 billion for the first time at the end of September and totalled EUR 200.79 billion as at 30.09.2018. At the end of 2008, approximately ten years ago, this figure was still around EUR 75 billion. "Volkswagen Financial Services have grown very successfully in recent years. The sales-driven growth is based on our strong internationalisation focus and our local market penetration plans. That has also enabled us this year to break through the barrier of EUR 200 billion in total assets," explains Lars Henner Santelmann, Chairman of the Management Board of Volkswagen Financial Services AG. He adds: "In this connection, I would like to express my thanks once again to Dr. Christian Dahlheim, who has been extraordinarily successful as Chief Sales Officer during the past few years and has always been a driving force behind our expansion strategy." Dr. Christian Dahlheim has been Head of Group Sales at Volkswagen AG since 1 October 2018 after previously holding the position of Chief Sales Officer at Volkswagen Financial Services AG since 1 January 2016.

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Braunschweig,
October 17, 2018

Volkswagen Financial Services successfully placed leasing receivables

Volkswagen Leasing GmbH, a wholly-owned subsidiary of Volkswagen Financial Services AG, has successfully placed its 27th Auto-Asset Backed Securities (ABS) transaction from securitised leasing receivables, VCL 27, with a volume of 957 million euros. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 22 basis points, and the Class B Notes at plus 68 basis points.

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Braunschweig,
October 10, 2018

Volkswagen Financial Services issues bonds worth 2.6 billion euros

Volkswagen Financial Services AG has placed three bonds with a total volume of 2.6 billion euros. Standard & Poor's is expected to rate the issue BBB+ and Moody’s with A3. Altogether, the transaction was oversubscribed more than 1.7 times.

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Braunschweig,
September 24, 2018

Volkswagen Financial Services expand their international fleet service in the USA

Volkswagen Financial Services have expanded their portfolio of international services for vehicle fleets. Thanks to Volkswagen Credit, Inc. (VCI), German and international corporate customers can now also be served in the US market and benefit from a one-stop service. "We have set ourselves the goal of achieving further growth in the non-European fleet business as well – and that includes the USA," says Jochen Schmitz, Head of International Fleet at Volkswagen Financial Services AG. "Together with our overseas colleagues we now have an even broader range of international services on offer." 

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Braunschweig, Berlin, Stuttgart,
September 13, 2018

Volkswagen Financial Services bring Daimler on board as new investor for their premium used-car platform heycar

Volkswagen Financial Services have been able to secure Daimler's financial division as a partner and investor for their used-car platform heycar, which was launched with great success in October 2017. Daimler's financial engagement is taking place by way of a capital increase. On completion of the transaction, Daimler will hold a 20% stake in Mobility Trader Holding GmbH, which operates the heycar platform in the German market via its subsidiary Mobility Trader GmbH. Daimler Financial Services will then hold a seat on the advisory board of Mobility Trader GmbH and – as and when heycar expands beyond Germany – one seat on the advisory board of each additional international subsidiary. Both parties have agreed not to disclose the purchase price. The transaction is subject to approval by the relevant antitrust authorities.

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Braunschweig,
August 29, 2018

Volkswagen Bank places Auto-ABS with a volume of more than 750 million euros

Volkswagen Bank GmbH has successfully placed its 15th Auto Asset-Backed Securities (ABS) transaction comprising securitised financing contracts, Driver 15, with a volume of more than 750 million euros. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 18 basis points, and the Class B Notes at plus 60 basis points. In addition, Volkswagen Financial Services Australia Pty Limited placed a bond (ISIN: AU3CB0255941) worth 350 million Australian dollars (AUD), around 224 million euros, with a term of three and a half years with an annual interest rate of 3.3 percent.

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Braunschweig,
August 9, 2018

Volkswagen Financial Services with a successful capital market start into the second half of the year

Volkswagen Financial Services successfully placed bonds in euros (EUR), Russian roubles (RUB) and pounds sterling (GBP) this week. "The attractive refinancing conditions in recent months were one reason for our very good half-year result. It is therefore all the more gratifying that we also started the second half of the year with successful issues in three major currencies," says Frank Fiedler, CFO of Volkswagen Financial Services AG and Chairman of the Board of Directors at Volkswagen Credit Inc. (USA). He adds: "The return of Volkswagen Credit Inc. to the American ABS market in June was also of great significance for the refinancing strength, as Volkswagen financial services' refinancing strategy is based on the broad use of instruments and currencies."

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Braunschweig,
August 9, 2018

The trucker's perfect co-driver: the MAN Card Mobility App from Volkswagen Financial Services

Volkswagen Financial Services are expanding their mobility services with the MAN Card Mobility App, which will be presented at the trade fair IAA Commercial Vehicles. The new digital companion significantly enhances the service spectrum of the MAN Card by adding the functions Route Planning, Navigation and Station Finder. "For some time now, our customers have been requesting an app for the MAN Card so that they can provide their drivers with other services apart from just refuelling," says Judit Habermann, member of the management of carmobility GmbH. She continues: "The app is a major coup for us. Premium routing, in particular, is a real bonus that effectively gives truck drivers more planning security on European roads." The MAN Card is developed and distributed by Carmobility GmbH, a subsidiary of Volkswagen Financial Services AG.

 

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Braunschweig,
August 7, 2018

Volkswagen Financial Services record successful first half-year

Volkswagen Financial Services have achieved their best-ever half-year operating result of EUR 1.231 billion as at 30 June 2018 (previous year: EUR 1.165 billion). The basis for this result lies in a 7.4 percent increase in the number of current contracts to 20.2 million units (previous year: 18.8 million units) and a growth of 8.7 percent in new contract acquisitions to just under 4.2 million units (previous year: 3.8 million). "Following our record performance in the financial year 2017, the earnings improvement during the first half of this year is especially satisfying. We are therefore confirming our earnings forecast for 2018 and expect our operating profit to be at the level of the previous year," says Frank Fiedler, CFO of Volkswagen Financial Services AG. He adds: "This is, however, not something that can be taken for granted, because in order to achieve this level again, we must continue to focus on our targets during the second half of the year." The increase in the half-year operating result is mainly attributable to the growth in business volume and improved margins.

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Eschborn,
August 6, 2018

LogPay Transport Services agrees fuel card acceptance deal with BP/Aral

LogPay Transport Services GmbH is expanding its acceptance network by more than 2,000 Aral filling stations in Germany. In addition, the LogPay fuel card will also be usable in other European countries during the course of this year at filling stations operated by the Aral parent company BP. This has been agreed between LogPay and BP/Aral. LogPay acts as a so-called network aggregator and brings together various different filling station providers in a single fuel card. Volkswagen Financial Services AG had acquired 51 percent of the shares in LogPay Transport Services in January 2017. "We're very pleased that we can significantly expand our services in Germany with Aral," says Jens Thorwarth, the Managing Director of LogPay Transport Services GmbH. He adds: "As a result, we have a strong filling station network that can now be effectively used in the passenger car segment as well as by trucks and heavy goods vehicles."

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Braunschweig,
June 5, 2018

Volkswagen Bank places bonds worth two billion euros

Volkswagen Bank GmbH has placed three bonds with a total volume of two billion euros. Standard & Poor's and Moody's are expected to rate the issue with BBB+ and A3 respectively. The transaction has generated an investor interest of nearly five billion euros.

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Braunschweig,
June 4, 2018

No more smartphone use when driving – CarMobility increases driver safety with SafeDrivePod

It's a phenomenon familiar to everyone: even though the use of smartphones and other mobile devices is strictly forbidden in Germany while driving, drivers making calls and writing short messages are part of everyday life on German roads. The use of a smartphone behind the wheel is one of the most important causes of accidents. To counter this negative trend, particularly in the company car and fleet vehicle segment, CarMobility, the independent fleet management company of Volkswagen Financial Services, is now introducing in Germany the SafeDrivePod developed by the Dutch company SafeDrivePod International B.V. The system consists of a small, coin-sized transmitter, an app and an online portal for fleet managers. The transmitter blocks the use of the phone screen. Hands-free talking still remains possible. "With the SafeDrivePod we want to set an example for greater traffic and driver safety," says Matteo Carlesso, Managing Director of carmobility GmbH, "but the system is also interesting from a purely TCO perspective. Every accident produces costs that push up the loss ratio as far as claims are concerned. This is another area where the SafeDrivePod can achieve positive effects."

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Braunschweig,
May 8, 2018

"Bring on the water!" and "Drive carefully!" – "Our Children in Braunschweig" foundation donates EUR 23,000

The "Our Children in Braunschweig" foundation belonging to Volkswagen Financial Services has made two facilities in the west of Braunschweig very happy. Firstly, the Family Centre St. Max Kolbe situated in the Donaustraße received a completely new mud play unit. The amount donated by the foundation was EUR 9,000. Secondly, the Youth Centre "Drachenflug" in Braunschweig's Frankfurter Straße was presented with a used Volkswagen Transporter minibus to transport the children. The foundation gave EUR 14,000 to make that happen. 

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Braunschweig,
May 7, 2018

Volkswagen Financial Services start 2018 with good first quarter

Volkswagen Financial Services have started off well in 2018 and increased their total contract portfolio and new contract acquisitions in all product segments during the first quarter. "Following our successful financial year 2017, we have also made a good start to the new year. We have performed particularly well in Asia. The strong growth in service contracts shows that we are meeting customer demand for additional car-related services," says Dr. Christian Dahlheim, Chief Sales Officer of Volkswagen Financial Services AG. The markets of China, Japan and Italy showed particularly positive development. Overall, the level of new contracts rose by almost nine percent compared with the same quarter last year to 1.99 million units. The portfolio of current contracts grew by over eight percent to reach 19.9 million units.

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Braunschweig,
April 23, 2018

Volkswagen Bank GmbH has securitised Italian auto loans for the first time

Volkswagen Bank GmbH has securitised Italian automobile credits and placed with investors for the first time. The Auto ABS (Asset Backed Securities) transaction Driver Italia one is secured solely by receivables of the Italian branch of the Volkswagen Bank GmbH. The securitisation transaction has a volume of more than 500 million euros.

 

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Braunschweig,
April 17, 2018

Ten years "Frech Daxe" Children's House – Ten years company kindergarten at Volkswagen Financial Services

Frech Daxe ("Cheeky Kids") take over company kindergarten at Volkswagen Financial Services AG" was the title of the press release at the time. "And how!" one could now add with hindsight. The in-house childcare facility run by Impuls Soziales Management GmbH & Co. KG, which opened in spring 2008, was one of the largest of its kind in Germany at the time and served as a role model for many other companies. Today, the children's house offers places for almost 180 children from the families of the company's employees.

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Braunschweig,
April 17, 2018

Volkswagen Financial Services invest in software company

Volkswagen Financial Services are continuing the systematic implementation of their digitalisation strategy and strengthening their IT competence through an indirect majority stake in the Portuguese software company VTXRM. With its "Accipiens" software, the company covers the entire spectrum of electronic contract processing for financial and leasing companies and is already used by Volkswagen Financial Services in numerous countries.

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Braunschweig,
April 6, 2018

Volkswagen Financial Services place Auto ABS in Australian dollars (AUD)

Volkswagen Financial Services have securitised receivables totalling over 750 million Australian dollars (AUD) (around EUR 470 million) and successfully placed the transaction with investors. The Auto ABS (Asset Backed Securities) transaction Driver Australia five is secured solely by receivables of Volkswagen Financial Services Australia Pty Ltd. Driver Australia five is the highest-volume Auto ABS transaction conducted up to now by Volkswagen Financial Services in Australian dollars.

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Braunschweig,
April 6, 2018

Volkswagen Financial Services place bonds worth 2.25 billion euros

Volkswagen Financial Services AG has placed three bonds with a total volume of 2.25 billion euros. Standard & Poor's and Moody's are expected to rate the issue with BBB+ and A3 respectively. Altogether, the transaction was oversubscribed more than two times.

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Braunschweig/Frankfurt am Main,
March 19, 2018

Volkswagen Financial Services achieve record result again in 2017

Volkswagen Financial Services have concluded the financial year 2017 with a new record result. As a result of the digitalisation of the business model, an increase in efficiency amounting to one billion euros will be realised by 2025. "2017 has been very successful for Volkswagen Financial Services. We are very satisfied with the result," says Lars Henner Santelmann, the Chairman of the Board of Management of Volkswagen Financial Services AG. Frank Fiedler, Chief Financial Officer of Volkswagen Financial Services AG, adds: "The good result was primarily based on the positive growth of our current contract portfolio and a lower level of refinancing and risk costs than in the previous year."

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Braunschweig,
March 15, 2018

Volkswagen Financial Services placed Auto ABS in Euro

Volkswagen Financial Services have successfully placed the Auto Asset-Backed Securities (ABS) transaction VCL 26 on the market. The transaction to securitise leasing contracts of Volkswagen Leasing GmbH has a total volume of more than one billion Euros.

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Braunschweig,
March 4, 2018

Hey, look out! The new used-car platform "heycar" goes on the advertising offensive

The advertising campaign set in motion by heycar, the new platform for premium used cars, is reaching everyone across Germany – on their couches, on the street or in their local cafés. Anyone who hasn't yet noticed there's a new player joining the action in the used car arena will definitely have realised one thing by the end of the "hey! 2018" campaign: "At heycar, I get the new old ones – certified, i.e. tested and approved high-quality used cars." TV ads are providing for entertainment and grabbing the necessary attention, for example during the FIFA World Cup in summer 2018. And mega-posters set up in cities like Berlin, Munich or Düsseldorf are bringing a smile to the face of their beholders and leaving a lasting impression.

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Braunschweig/Hildesheim,
February 23, 2018

Big Data = Big Cooperation: University of Hildesheim and Volkswagen Financial Services (VWFS) agree on cooperation

Volkswagen Financial Services and the University of Hildesheim have signed a three-year cooperation agreement. As well as promoting the transfer of knowledge and the development of joint research projects in the pioneering field of big data analytics, the aim is also to intensify contacts at the graduate level between Europe's largest provider of automobile financial services and the university.

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Braunschweig,
February 14, 2018

Volkswagen Bank successfully markets Asset-Backed Securities

Volkswagen Bank GmbH has successfully placed its 14th Auto Asset-Backed Securities (ABS) transaction, Driver 14, on the market. The issue securitises vehicle financing contracts and has a total volume of around EUR 850 million. During the bookbuilding process, the Class A Notes were placed at a price of 1-month Euribor plus 12 basis points, and the Class B Notes at plus 37 basis points. The order books were oversubscribed 2.7 times (Class A) and 1.3 times (Class B) at placement pricing levels.

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Braunschweig,
February 8, 2018

Focus Business ranking: Volkswagen Financial Services among Germany's top employers in 2018

An accolade that speaks for itself: in the annual Focus Business ranking for 2018, Volkswagen Financial Services, Europe's leading automobile financial services provider, have once again been rated among Germany's top employers. In addition, they also received a special award in the "Healthy & Fit" category for offers in the areas of health, work-life balance and nutrition.

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