The financial division of the Wolfsburg firm is on long tablecloths. Let’s see why.
What’s happening?
Volkswagen Financial Services celebrates 50 years in Mexico, granting various credits to customers, to be able to access any of the brand’s cars.
“We have worked to offer a portfolio of products and flexible, achievable, competitive, easy to manage and immediate services. Our goal is to be an ally so that people get the car of your dreams. We know the Mexican market and understand its needs”, said Javier Martínez Vallano, VWFS Director of Finance.
Volkswagen Financial Services: A bit of history in Mexico
Since 1973, Volkswagen Leasing was the first entity to offer pure leasing to the Mexican market. Thousands of users benefited from a new scheme to get behind the wheel of a “Vocho”, as the iconic Beetle model was known locally, then the dominant figure on the streets of Mexican cities.
in 1993 Volkswagen Leasing becomes Volkswagen Financial Services, in order to offer loans for the retail market. To strengthen the product portfolio, Volkswagen Bank joined in 2008 and Volkswagen Insurance Brokers in 2016.
In 2022, VWFS celebrated 15 years as an issuer on the Mexican Stock Exchange. It is one of the main issuers of the automotive financing sector in the stock market, with a total of 23 issues up to December 2022.
In 2022 alone, VWFS added more than 250,000 new contracts.
Currently 2 of every 3 cars financed for Volkswagen Group brands use VWFS services.
Today VWFS offers mobility solutions to more than 2.8 million customers in the last 50 years.
Today Volkswagen Financial Services encompasses dealer and customer financing, leasing, banking and insurance business, fleet management and mobility offerings. Volkswagen Financial Services has a total of 17,713 employees worldwide, including 7,692 in Germany alone. Volkswagen Financial Services reports total assets of around 240 billion euros, an operating result of 5.6 billion euros and a backlog of around 22 million current contracts (as of 31.12.2022).
How do you see the achievements of Volkswagen Financial Services in Mexico? leave us your comment.
