VWFS in numbers
- Grown 40% in two years to £11bn portfolio
- VWFS finances six out of 10 Volkswagen Group car sales to private customers
- Also a major lender to fleet and business car market
- Has a 19% share of the automotive finance and insurance market
THE Business Secretary, Vince Cable, officially opened the new eco-friendly Volkswagen Financial Services building in Milton Keynes yesterday.
Volkswagen Financial Services plans substantial growth in the next two years and the new building will help facilitate the process for the company, which now has a portfolio size of £11bn.
“This significant investment in Milton Keynes has already created 350 jobs and is very welcome,” said Secretary of State for Business, Innovation and Skills, The Rt Hon Dr Vince Cable, on the opening of the Volkswagen Financial Services building.
“The availability of finance plays a substantial part in the strong market for new cars in this country and helps contribute to the success of our automotive industry.
“It seems fitting that when I started in this job five years ago my first visit was to a Volkswagen plant in Crewe and that it should end also at a Volkswagen building. Back in 2010 it was symptomatic of the time that the Crewe plant was struggling. But the commitment shown by Volkswagen now sees it booming.”
The £36m new Volkswagen Financial Services building features:
- Latest energy efficent technology
- encourages green ways of travelling to work
- promotes well being with tranquil outdoor spaces
- 82 roof mounted solar panels generate 40,000Kw a year sold back into the National Grid
