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Volkswagen Financial Services: Difference between revisions
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Despite the <u>many challenges</u> that continue to persist, the v'''olume of existing contracts''' at Volkswagen Leasing GmbH is '''forecast to be again slightly up''' on the prior-year level at the end of the year. That's another risk taken of from the list. The <u>provision for credit risks</u> was r<u>aised substantially</u> to take account of credit risks that have arisen from crisis situations and the resulting uncertainty about the global geopolitical situation. | Despite the <u>many challenges</u> that continue to persist, the v'''olume of existing contracts''' at Volkswagen Leasing GmbH is '''forecast to be again slightly up''' on the prior-year level at the end of the year. That's another risk taken of from the list. The <u>provision for credit risks</u> was r<u>aised substantially</u> to take account of credit risks that have arisen from crisis situations and the resulting uncertainty about the global geopolitical situation. | ||
== | ==If number of contracts was to stay the same, will they become less valuable to the company?== | ||
===='''Let's say demand is going down, prices go down, then so will the amount of money needed for financing a new car with VW Financial Services?'''==== | ===='''Let's say demand is going down, prices go down, then so will the amount of money needed for financing a new car with VW Financial Services?'''==== | ||
I don't think this will be a problem, as I <u>don't see a reduction</u> in the number of contracts. | |||
As supply is going to improve slowly over the next few quarters, I don't think the amount of money needed for financing will decrease. Even though less money will be needed for financing as demand is going to ease, supply growth will offset the inbalance. | |||
The '''number of contracts''' for the whole group in the first three quarters was <u>18 milllion</u>, of which <u>7.2 million are for financing and leasing</u>. | |||
For '''new contracts,''' the number stood at <u>4.6 million</u> in the reporting period, and was <u>down 6.3%</u> on the previous year’s figure. | |||
Let's take a look at contracts per region for Volkswagen Financial Services ( source : VW Q3 2022 CC ) | |||
''North America'' | |||
-3 million contracts; | |||
-583,000 of which are new contracts; | |||
-That is a 6.8% fall, attributed to the decline of vehicle deliveries; | |||
-Contracts for customer financing / leasing stood at 1.7 million. | |||
''South America'' | |||
-793,000 total contracts ( 70,000 more than previous year ) | |||
-Contracts mainly related to customer financing/ leasing | |||
''Asia-Pacific'' | |||
-Number of contracts increased to 904,000 new contracts | |||
-Total number of contracts was 2.6 million, of which 1.7 million are for financing/leasing. | |||
In the period from January to September 2022, the Financial Services Division’s sales revenue amounted to €34.8 billion, 3.2% more than in the same period of the previous year. There was also an increase in sales revenue for the leasing business. | |||
===='''Q4: Which % of cars in VW Financial are lease vehicles and needs to be resold? → Is there a Problem if used car prices drop?'''==== | ===='''Q4: Which % of cars in VW Financial are lease vehicles and needs to be resold? → Is there a Problem if used car prices drop?'''==== | ||