In fiscal year 2011, products and services from Volkswagen Financial Services were very popular with customers. 3.1 million new financing, leasing and insurance contracts were signed worldwide, a 16.2% increase on the prior-year figure. The total number of contracts as of December 31, 2011 exceeded the number at the end of 2010 by 10.2%, at 8.2 million. The number of contracts in the Customer Financing/Leasing area was up 6.1% to 5.6 million and the number of contracts in the Service/Insurance area increased by 19.8%. The proportion of total vehicle deliveries by the Group worldwide accounted for by leased or financed vehicles was 36.3% (34.9%), based on unchanged credit eligibility criteria.
In Europe, the number of new contracts signed increased to 2.3 million (previous year: 2.0 million), increasing the number of contracts to 6.2 million (previous year: 5.6 million) as of December 31, 2011. The number of financing and leasing contracts was 3.7 million (previous year: 3.5 million) at the end of the reporting period. At 36.8% (previous year: 34.5%), the proportion of vehicles in Europe leased or financed was higher than in the previous year. Closer cooperation with the Group’s automotive brands, which focused on the joint development of attractive, customer-oriented campaigns, proved effective.
Germany remained a stabilizing factor and growth driver in the eurozone in 2011. Accordingly, 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 significantly, growing by 46,892 contracts or 7.2% as against the previous year. In Germany, more than every second vehicle from the Volkswagen Group is financed by or leased through Volkswagen Financial Services, a penetration rate of 50.3% (previous year: 48.8%).
In North America, a total of 500 thousand new contracts were signed, surpassing the prior-year figure by 16.2%. The total number of contracts grew to 1.3 million, 5.7% higher than at the end of 2010. 1.1 million (previous year: 1.1 million) contracts were attributable to the Customer Financing/Leasing area. In North America, the proportion of leased or financed vehicles was down slightly year-on-year at 51.2% (previous year: 52.2%).
In South America, the number of contracts grew by 13.5% to 605 thousand, which were almost exclusively attributable to the Customer Financing/Leasing area. The proportion of leased or financed vehicles in this region amounted to 25.1% (previous year: 27.3%).
At 67 thousand, the number of new contracts in the Asia-Pacific region was 26.5% higher than in the previous year. The total number of contracts increased by 12.9% to 205 thousand. In the Customer Financing/Leasing area, the number of contracts increased by 8.7% year-on-year to 128 thousand. 30.6% (previous year: 22.0%) of all vehicles delivered in the Asia-Pacific region in fiscal year 2011 were leased or financed.