Products and services from Volkswagen Financial Services were very popular with customers in the reporting period. 3.8 million new financing, leasing and service/insurance contracts were signed worldwide, a 21.0% increase on the prior-year figure. At 9.6 million, the total number of contracts at December 31, 2012 exceeded the number at the end of 2011 by 16.9%. The number of contracts in the Customer Financing/Leasing area was up 14.5% to 6.4 million and the number of contracts in the Service/ Insurance area increased by 21.9%. Based on unchanged credit eligibility criteria, financed or leased vehicles amounted to 27.5% (36.3%) of total Group delivery volumes. The decrease reflects the inclusion of the Chinese market as of the beginning of 2012. The share of leased or financed vehicles in China is much lower than the average for other markets.
In Europe, the number of new contracts signed increased to 2.6 million (2.3 million), increasing the number of contracts to 7.0 million (6.2 million) as of December 31, 2012. The number of financing and leasing contracts was 4.0 million (3.7 million) at the end of the reporting period, an increase on the prior-year figure. The proportion of leased or financed vehicles in this region increased to 41.9% (36.8%).
Germany remained a stabilizing factor and a growth driver in the eurozone in fiscal 2012. The Volkswagen Group’s automotive and financial services business also performed well in this region. The number of financing and leasing contracts for new and used vehicles increased by 5.3% to 2.4 million. The penetration rate rose to 53.1% (50.3%). In Germany, more than every second vehicle from the Volkswagen Group is financed by or leased through Volkswagen Financial Services.
In North America, a total of 661 thousand new contracts were signed, surpassing the prior-year figure by 32.4%. The total number of contracts grew to 1.5 million, 18.4% higher than at the end of 2011. In the Customer Financing/ Leasing area, the number of contracts increased by 12.6% year-on-year to 1.3 million (1.1 million). 54.4% (51.2%) of all vehicles delivered in North America were leased or financed.
In South America, the total number of contracts was 697 thousand in the reporting period, 15.3% higher than in the prior-year period. These were almost exclusively attributable to the Customer Financing/Leasing area. The proportion of leased or financed vehicles in this region amounted to 27.8% (25.1%).
In the Asia-Pacific region, a total of 226 thousand new contracts were signed, more than tripling the prior-year figure. The total number of contracts doubled, increasing to 464 thousand. In the Customer Financing/Leasing area, the number of contracts almost tripled and rose to 371 thousand. A total of 6.5% (30.6%) of all vehicles delivered in the Asia-Pacific region in fiscal 2012 were leased or financed. The decrease is attributable to the inclusion of the Chinese market.