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VW Seeks Greater Finance Penetration in China’s Interior

Volkswagen Financial Services increased its penetration of automotive loan and lease products across China and India but saw Japan taper off, according to the captive’s half-year earnings report released Wednesday. VW originated 413,000 new contracts in the Asia-Pacific region — an increase of 14.6% year over year, according to the report. The OEM’s financial services […]

Ducati Continues Global Sales Growth Amid New Finance Programs

Ducati sold 55,871 motorcycles globally, 400 more than the previous year, according to figures released by Audi Group during its annual press conference last week in Ingolstadt, Germany. The motorcycle manufacturer has been experiencing a period of growth over the last eight years, having sold 55,452 units in 2016. In the U.S., which remains Ducati’s largest […]

China Ripe for Auto Finance Boom as Consumer Penetration Rate Rises

Since 2009, China has surpassed the United States as the largest market for new-vehicle sales, according to Deloitte Consulting LLC. And now, auto finance is starting to catch up. For many years, the Chinese automotive market has been propped up by government incentives like tax breaks, which encouraged customers to purchase cars. So far, this […]

Volkswagen Financial Expects Record Earnings for Fiscal Year 2017

Volkswagen Financial Services released provisional figures for the fiscal year 2017 and expects to beat last year’s earnings of $2.4 billion, the company announced last week. According to provisional figures, the portfolio will increase by approximately 8% year over year to more than 19.7 million contracts, which includes contracts in financing, leasing, insurance, maintenance, and inspection. Volkswagen […]

Volkswagen’s Originations Decline Amid Mobility Focus

VW Financial Services’ North American originations were down 11.8% for the nine-month period through September, according to the company’s third-quarter earnings. North American originations totaled 647,000 contracts through September, down from 734,000 during the same period the year prior. The pullback in originations was mostly concentrated in leasing, where the company’s total U.S. lease outstandings […]

AutoGravity Adds Real-Time Inventory Amid Financing Milestone

On the heels of reaching a milestone $1 billion of requested financing on AutoGravity, the startup is introducing real-time inventory on new and used cars for partnered dealership groups, the company announced in a press release this morning.   Prior to the integration, consumers were only able to browse through catalog models of the brands, […]

VW Credit Joins AutoGravity Through Equity Investment

VW Credit Inc. has made an equity investment into the online origination portal AutoGravity and is both joining the platform as a captive lender and utilizing the company’s technology to create its own branded online financing mobile app, according to a Wednesday press release. AutoGravity declined to disclose the sum of the investment to Auto […]
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