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Volkswagen Financial Services signed record millionth car financing contract

Volkswagen Financial Services, the leader in the Czech car financing market, signed a record millionth car financing contract on 26th September. The company acquired its millionth customer after 24 years of its operations in the Czech market. The owner of the new car has received a CCS card loaded with CZK 20,000 as a reward.

The leading financial company operating in car financing, support for car sales, car fleet services and related services, entered the Czech market in 1992 under the name ŠkoFIN. It attracted customers’ attention almost immediately. One of the important milestones was 2015, when the company carried out its rebranding as Volkswagen Financial Services. And this is the brand under which it has now logged its millionth contract.

“This detail is not only a number in the table of business results; each and every unit in this amount represents a particular person or entity that we have helped to acquire a new or used car”, says Joachim Ewald, Volkswagen Financial Services Managing Director, adding: “The thanks for the confidence shown in us go primarily to our clients. I would also like to thank our trade partners for their long-standing favour and cooperation. This magic number motivates us to continue improving the quality of our products and the professionalism of our services”.

Current challenges

Volkswagen Financial Services pursues services in which it feels it has a competitive advantage including the new forms of financing that ensure mobility, Group brand insurance policies and Group Brand Prepaid service. Having recently made several attractive acquisitions, the company is also reinforcing its position in car fleets. “We are also reflecting the increasing requirements for efficiency and digitisation in our internal processes, where the key project for us is the implementation of a new information system”, says Reinhard Mathieu, Volkswagen Financial Services Managing Director, noting that as early as last year, every third Volkswagen Group car sold drove out of the dealer’s with financing from Volkswagen Financial Services. He also says that the company wants to increase this share in the coming years.

The strongest player in the market

Volkswagen Financial Services offers products in the areas of loans, financial and operating leases, Group brand insurance and services to private individuals, sole traders and firms. It has been number one in the Czech car financing market for a long time and offers financial services for the Volkswagen Group car brands. The company’s Managing Directors are Joachim Ewald (since 1 March 2014) and Reinhard Mathieu (since 1 September 2015).

For more information visit www.vwfs.cz (CZ)


PragueConnect.cz, Prague 27.09.2016