Volkswagen Financial Services U.S. and Wells Fargo announce cooperation agreement for vehicle purchase financing of Volkswagen, Audi, and Ducati brands in the United States
Volkswagen Financial Services (VWFS) and Wells Fargo (NYSE: WFC) have announced a multi-year co-branded agreement for vehicle purchase financing in the United States. Under this partnership, Wells Fargo will become the preferred purchase financing provider for Volkswagen, Audi, and Ducati brands, starting from April 2025. VWFS will continue to lead customer experience, focus on consumer leasing, and develop usage-based products, including mobility solutions.
The agreement covers more than 600 Volkswagen, 300 Audi, and 130 Ducati dealerships in the U.S. This strategic move aims to respond to evolving market dynamics and support Volkswagen Group's growth strategy in the U.S. market. VWFS will continue to service existing customer contracts and maintain its role in supporting brand and dealer relationships.
Volkswagen Financial Services (VWFS) e Wells Fargo (NYSE: WFC) hanno annunciato un accordo di co-branding pluriennale per il finanziamento degli acquisti di veicoli negli Stati Uniti. Nell'ambito di questa partnership, Wells Fargo diventerà il fornitore preferito per il finanziamento degli acquisti dei marchi Volkswagen, Audi e Ducati, a partire da aprile 2025. VWFS continuerà a guidare l'esperienza del cliente, a concentrarsi sul leasing dei consumatori e a sviluppare prodotti basati sull'uso, comprese le soluzioni di mobilità.
L'accordo copre oltre 600 concessionarie Volkswagen, 300 Audi e 130 Ducati negli Stati Uniti. Questa mossa strategica mira a rispondere all'evoluzione delle dinamiche di mercato e a sostenere la strategia di crescita del Gruppo Volkswagen nel mercato statunitense. VWFS continuerà a gestire i contratti esistenti con i clienti e a mantenere il suo ruolo di supporto nelle relazioni tra marchi e concessionari.
Volkswagen Financial Services (VWFS) y Wells Fargo (NYSE: WFC) han anunciado un acuerdo de co-branding por varios años para el financiamiento de la compra de vehículos en los Estados Unidos. Bajo esta asociación, Wells Fargo se convertirá en el proveedor preferido de financiamiento de compras para las marcas Volkswagen, Audi y Ducati, a partir de abril de 2025. VWFS continuará liderando la experiencia del cliente, enfocándose en el arrendamiento para consumidores y desarrollando productos basados en el uso, incluidas soluciones de movilidad.
El acuerdo abarca más de 600 concesionarios de Volkswagen, 300 de Audi, y 130 de Ducati en los EE. UU. Este movimiento estratégico tiene como objetivo responder a la evolución de las dinámicas del mercado y apoyar la estrategia de crecimiento del Grupo Volkswagen en el mercado estadounidense. VWFS continuará gestionando los contratos existentes con los clientes y manteniendo su papel en el apoyo a las relaciones entre marcas y concesionarios.
폭스바겐 파이낸셜 서비스(VWFS)와 웰스 파고(NYSE: WFC)는 미국에서의 차량 구매 금융을 위한 다년간의 공동 브랜드 계약을 발표했습니다. 이번 파트너십에 따라 웰스 파고는 폭스바겐, 아우디, 그리고 듀카티 브랜드의 선호하는 구매 금융 제공업체가 됩니다, 시작일은 2025년 4월입니다. VWFS는 고객 경험을 이끌고, 소비자 리스에 집중하며, 이동 수단 솔루션을 포함한 사용 기반 제품을 개발할 것입니다.
이 계약은 미국 내 600개 이상의 폭스바겐, 300개 아우디, 그리고 130개 듀카티 대리점을 포함합니다. 이 전략적 움직임은 시장의 변화하는 역학 관계에 대응하고, 미국 시장에서 폭스바겐 그룹의 성장 전략을 지원하는 것을 목표로 합니다. VWFS는 기존 고객 계약을 계속 관리하고, 브랜드 및 대리점 관계를 지원하는 역할을 유지할 것입니다.
Volkswagen Financial Services (VWFS) et Wells Fargo (NYSE: WFC) ont annoncé un accord de co-branding de plusieurs années pour le financement d'achat de véhicules aux États-Unis. Dans le cadre de ce partenariat, Wells Fargo deviendra le fournisseur de financement d'achat privilégié pour les marques Volkswagen, Audi et Ducati, à partir d'avril 2025. VWFS continuera à diriger l'expérience client, à se concentrer sur la location pour particuliers, et à développer des produits basés sur l'utilisation, y compris des solutions de mobilité.
L'accord couvre plus de 600 concessions Volkswagen, 300 concessions Audi et 130 concessions Ducati aux États-Unis. Ce mouvement stratégique vise à répondre aux dynamiques de marché évolutives et à soutenir la stratégie de croissance du Groupe Volkswagen sur le marché américain. VWFS continuera à gérer les contrats clients existants et à maintenir son rôle de soutien des relations entre les marques et les concessionnaires.
Volkswagen Financial Services (VWFS) und Wells Fargo (NYSE: WFC) haben eine mehrjährige Co-Branding-Vereinbarung für die Fahrzeugfinanzierung in den Vereinigten Staaten angekündigt. Im Rahmen dieser Partnerschaft wird Wells Fargo der bevorzugte Finanzierungsanbieter für den Kauf von Fahrzeugen der Marken Volkswagen, Audi und Ducati, beginnend im April 2025. VWFS wird weiterhin die Kundenerfahrung leiten, sich auf die Verbraucher-Leasing konzentrieren und nutzungsbasierte Produkte einschließlich Mobilitätslösungen entwickeln.
Die Vereinbarung umfasst über 600 Volkswagen- sowie 300 Audi- und 130 Ducati-Händler in den USA. Dieser strategische Schritt zielt darauf ab, auf die sich wandelnden Marktdynamiken zu reagieren und die Wachstumsstrategie des Volkswagen-Konzerns im US-Markt zu unterstützen. VWFS wird weiterhin bestehende Kundenverträge betreuen und seine Rolle in der Unterstützung von Marken- und Händlerbeziehungen aufrechterhalten.
- Strategic partnership with Wells Fargo to provide new U.S. consumer retail financing
- VWFS retains focus on consumer leasing and usage-based products, including mobility solutions
- Expansion of financing options for over 1,000 dealerships across Volkswagen, Audi, and Ducati brands
- Potential for improved customer experience through dedicated purchase financing from Wells Fargo
- Transition of retail financing services to Wells Fargo may impact VWFS's market share in this segment
- Potential challenges in integrating Wells Fargo's services with existing VWFS operations
This strategic partnership between Volkswagen Financial Services (VWFS) and Wells Fargo marks a significant shift in VWFS's U.S. operations. By offloading retail financing to Wells Fargo, VWFS can focus on leasing and innovative mobility solutions, potentially positioning itself for future market trends. This move could improve VWFS's capital efficiency and risk profile, as Wells Fargo will shoulder the credit risk for new retail loans.
For Wells Fargo, this deal represents a major expansion in auto lending, providing access to a premium customer base and potentially boosting its market share in the sector. The bank's extensive resources and expertise in retail financing could lead to more competitive rates for consumers, potentially driving sales for Volkswagen Group brands.
Investors should monitor the transition's execution, as any disruptions could impact short-term sales. Long-term, this partnership may enhance both companies' competitive positions in their respective focus areas.
This partnership reflects broader trends in the automotive industry, where traditional financing models are evolving to accommodate changing consumer preferences and technological shifts. VWFS's pivot towards leasing and usage-based products aligns with the industry's move towards mobility-as-a-service and subscription-based models.
The deal could give Volkswagen Group brands a competitive edge in financing options, potentially boosting sales in the important U.S. market. Wells Fargo's extensive network and financial muscle could lead to more attractive financing terms, helping VW, Audi and Ducati compete more effectively against both traditional rivals and new entrants in the premium auto segment.
However, the success of this strategy hinges on seamless integration and maintaining brand-specific customer experiences across more than 1,000 dealerships. Any hiccups in this transition could temporarily impact sales and customer satisfaction.
- Wells Fargo will provide new
- VWFS continues to lead VWGoA financing solutions for brand and dealer relationships while prioritizing consumer leasing and delivering usage-based products, including mobility solutions
Volkswagen Financial Services will continue to lead the customer experience in the U.S. market with Volkswagen, Audi, and Ducati brand partners and dealers. After this transition, VWFS will focus on consumer leasing and usage-based products, including mobility solutions, supporting Volkswagen Group's growth strategy in the
"We continuously evaluate our global business to make bold decisions that best position us in each of our markets," said Pablo Di Si, President and CEO, Volkswagen Group of America. "By aligning ourselves to respond to evolving market dynamics through this partnership, we're able to more effectively support the needs of Volkswagen, Audi, and Ducati while providing tremendous opportunities for Volkswagen Financial Services in the U.S. market in the future."
"This is a union of great strengths, as Volkswagen Financial Services
Under the terms of the agreement, Wells Fargo will provide a dedicated purchase experience for more than 600 Volkswagen, 300 Audi, and 130 Ducati dealerships in the
"We are proud of working with Volkswagen Financial Services
Additional information may be found at https://www.volkswagengroupofamerica.com and www.wellsfargo.com.
About Volkswagen Group of America
Volkswagen Group of America, Inc. (VWGoA) is a wholly owned subsidiary of Volkswagen AG, one of the world's leading automobile manufacturers and the largest carmaker in
About Volkswagen Financial Services
VW Credit, Inc., dba Volkswagen Financial Services (VWFS), was founded in 1981 as the captive financial services arm of Volkswagen Group of America, Inc. and is affiliated with Volkswagen of America, Inc., Audi of America, Inc. and Ducati North America, Inc. VWFS offers services to Volkswagen, Audi, Ducati customers, and authorized dealers as Volkswagen Financial Services, Volkswagen Credit, Audi Financial Services, and Ducati Financial Services. The company offers competitive financial products and services to customers and authorized dealers in
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately
"Volkswagen", "Audi," "Ducati", all model names and the Volkswagen logo are registered trademarks of Volkswagen AG. All other trademarks are the property of their respective owners.
View original content:SOURCE Volkswagen Financial Services; Wells Fargo
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