The move affects the Volkswagen, Audi, and Ducati brands in the United States
The VW Group is transitioning away from its own private financing branch for customers. Now, it'll partner with Wells Fargo to provide that service to its customers at its dealerships. The shift in financing strategy comes amid a slump in VW's financial performance. Volkswagen announced on Monday that its US Financial Services arm would partner with Wells Fargo to provide financing for customers.
Evidently, VWFS will continue on as a leasing-focused company. It'll also handle non-asset business and wholesale business loans. The new arrangement will impact customers at 600 VW dealerships, 300 Audi dealerships, and 130 Ducati dealerships across the USA. 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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Two Oklahoma Offensive Starters Exit Game With Apparent InjuriesJalil Farooq missed all of the Sooners' spring practices with a fractured foot.
Read more »
Facts on UAB Game: Looking at Notes for Saturday's GameFacts, stats ahead of the Hogs' matchup with Blazers in first game of year at Razorback Stadium.
Read more »
NFL Week 1 Game-by-Game Expert PredictionsNewsweek Sports expert predictions for the first Sunday of the 2024 NFL season.
Read more »
Updated Game-by-Game ESPN FPI Win Projections For Virginia Tech After Their Loss Against VanderbiltThe college football season is now heading into week two, and Virginia Tech has one more loss than they were hoping to enter week two with. Virginia Tech needs
Read more »
Ravens vs. Chiefs same-game parlay: NFL Kickoff game picks, player props, oddsThe NFL kicks off its 2024 season Thursday night in Kansas City and we have a same-game parlay to get the party started.
Read more »
Tuesday’s Rangers-White Sox game becomes shortest suspended game in MLB historyThe Rangers, on pace for one of the worst records ever by a defending World Series champion, are still finding time to set records.
Read more »