LIBERTYVILLE, Ill. — VW Credit Inc. (VCI), the captive finance partner of Volkswagen and Audi in the U.S., increased the number of all new contracts signed by 28.3 percent in 2012 to 404,947, compared to 2011. The total number of current contracts increased by 13.4 percent to 950,873 — the highest amount ever. The number of total assets during the business year 2012 rose by 17.5 percent to the record level of $23 billion.
“We are supporting the brands of Volkswagen Group of America in their growth strategy with attractive financing solutions and superior service for our customers. Volkswagen Credit financed 60 percent of all vehicles sold by the Volkswagen brand and 54 percent of the Audi Brand; this allowed us to accelerate our growth during the business year 2012,” said Dr. Christian Dahlheim, executive vice president and chief financial officer of Volkswagen Credit, on the occasion of the expansion of the new service center in Libertyville, Ill.
In the wholesale financing segment, the receivables from Volkswagen Group dealers increased 38.3 percent to $2.5 billion. This volume essentially covers the financing of vehicles in stock, plus equipment and investment loans. VCI increased the number of employees from 1,008 to 1,100 in the last 12 months, an upsurge of nine percent. The Management Board of VCI anticipates continuous growth in 2013.