Volkswagen Financial Services AG · Braunschweig Germany
Company Description
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This link will open in a new window Volkswagen Financial Services is the global financial branch of automobile manufacturer Volkswagen . Its Volkswagen Bank and Volkswagen Leasing subsidiaries handle the financing and leasing activities related to the sale of new and used Audi , Bentley , SEAT , and Volkswagen vehicles to both consumers and dealers. The company also provides motor vehicle insurance through subsidiary Volkswagen Insurance Services. Volkswagen Leasing and its Fleet Customers division provide fleet planning and administration services. Volkswagen Financial Services operates in more than 35 countries, primarily throughout Europe and Asia. The company was founded in 1994. To read the full description, subscribe now.
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Key Volkswagen Financial Services AG Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $3,856.0 |
| 2008 Employees | 6,639 |
Volkswagen Financial Services AG Executives
20 executives listed for Volkswagen Financial Services AG's Braunschweig, location.
| Title | Name & Bio | Contact |
| Chairman, Supervisory Board | Hans Pötsch | Network |
| Deputy Chairman, Supervisory Board | Horst Neumann | Network |
| Deputy Chairman, Supervisory Board | Michael Riffel | Network |
Competition
Competitive Landscape for Volkswagen Financial Services AG
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top Volkswagen Financial Services AG Competitors
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