VOLKSWAGEN FINANCIAL SERVICES AG: THE KEY TO MOBILITY
The founding of Volkswagen Financial Services AG (VWFS) in March 1994 opened a new chapter in the long and successful history of financial services at Volkswagen. Today, the Braunschweig-based wholly owned subsidiary of Volkswagen AG is responsible for the coordination of Volkswagen’s global financial services activities and represents Europe’s largest automotive financial services operation. With its comprehensive range of products, Volkswagen Financial Services makes a significant contribution to the promotion of the Volkswagen Group’s unit sales and strengthens the link between customers and the Group brands. Its innovative financial services provide many customers quite literally with the key to mobility. Worldwide, 28% of all Volkswagen Group cars sold are financed or leased by Volkswagen Financial Services; in Germany the figure is more than every second vehicle. At the reporting date (December 31, 2014) VWFS had 11,305 employees (including 5,928 in Germany) and a balance-sheet total of €107 billion.
GENERATING SUSTAINABLE SUCCESS
To ensure its continued success, Volkswagen Financial Services considers the economic, environmental and social effects of its decision-making. It sees itself as part of society; it cares for the health, develops the skills and encourages the social commitment of its employees, and assumes responsibility for people in the region. To this end, Volkswagen Financial Services offers its expertise as a financial services provider and works together with the My Finance Coach initiative to provide young people with a basic financial education, de-mystify economic issues and pass on money management skills. The company also won the Great Place to Work competition in recognition of the wide variety of measures it employs to promote workplace culture.
Volkswagen Financial Services and the German Nature and Biodiversity Conservation Union NABU have together developed an environmental program that enables fleet managers to help the environment and cut their costs at the same time. Ever since the program was launched, the number of particularly fuel-efficient vehicles in the portfolio has been rising – reaching more than 300,000 cars in 2014. At the same time the requirements with which these Volkswagen Group vehicles are expected to comply are constantly being stepped up. In 2014 the limit for carbon emissions was down to just 110 g CO2/km and the required efficiency label was A or A+.
Volkswagen Financial Services’ “Quicar” car-sharing project for Hanover now operates some 50 stations in and around the city, where more than 200 Volkswagen brand vehicles (primarily Golf BlueMotion models) are available for hire. In 2014, together with its partner Pon Holdings B.V., Volkswagen Financial Services also maintained its stake in Collect Car B.V., better known as “Greenwheels”, the leading carsharing operator in the Netherlands, Our environmental program itself has already won two awards – an ÖkoGlobe award and another in the context of the nationwide “365 Landmarks in the Land of Ideas” competition. In September 2014, the environmental program, which was developed in conjunction with NABU, was named an “Official Project of the UN Decade on Biodiversity”.