Braunschweig, 4 November 2019. Volkswagen Financial Services are fully on track in autumn 2019 after the first three quarters of this year. The progress recorded is very positive, both in terms of contract volumes and the key financial figures. The current portfolio grew to a new record level of more than 21.2 million contracts (+6.1 percent). New contract acquisitions also increased by over three percent to almost 6.3 million. The contract growth caused total assets to reach EUR 219.3 billion and generated a new record operating result after three quarters of EUR 2.035 billion (+6.2 percent, previous-year period: EUR 1.915 billion). "Despite the extremely challenging market environment, we can look back on three positive quarters with an excellent result. The basis for this is our international presence, combined with our diverse product portfolio. This makes us more resistant to fluctuations in individual markets," explains Lars Henner Santelmann, Chairman of the Management Board of Volkswagen Financial Services AG. He adds: "Business in Europe has developed especially well, where the service business has grown particularly strongly with products such as maintenance and wear-and-tear repairs or tire services."
New contracts for Porsche, SEAT, MAN and non-Group brand vehicles have developed very positively across all product groups. The portfolio of current contracts in Germany also increased over the same period last year: at the end of September 2019, it totaled around 6.34 million contracts (previous-year period: 6.06 million contracts), a rise of 4.5 percent.
The portfolio of current contracts on the books worldwide amounts to more than 21 million units and comprises around 6.6 million contracts for vehicle financing (+3.9 percent), 4.6 million for leasing contracts (+5.8 percent), 4.3 million for service contracts (+10.7 percent) and 5.8 million for insurance contracts (+5.5 percent).
The new contract acquisitions of almost 6.3 million units break down into around 1.8 million new vehicle financing contracts (-2.7 percent), 1.5 million new leasing contracts (+6.3 percent), 1.3 million new service contracts (+14.5 percent) and 1.7 million new insurance contracts (-0.1 percent).
