Volkswagen Group Finanz Volkswagen Group Finance

Volkswagen Group Finanz (Volkswagen Group Finance) has been operating in the Russian market since 2003 and is a division of Volkswagen Financial Services AG, one of the largest international companies specializing in financial services for the automotive market. Volkswagen Financial Services has been providing financial services for more than 50 years, including leasing, operational leasing, credit and insurance, in more than 25 countries around the world. During this time, special knowledge has been accumulated, progressive technologies and our own know-how have been created, which we already use today in Russia.

History

2024: Igor Kim bought Volkswagen's leasing and factoring business in Russia

In early February 2024, it became known about the sale of leasing and factoring businesses Volkswagen to a businessman. and Igor Kim Financial other deal parameters are not disclosed.

According to Interfax, citing data from the Unified State Register of Legal Entities (Unified State Register of Legal Entities), from January 25, 2024, the owner of 100% of Volkswagen Financial Services Rus LLC (factoring) and Volkswagen Group Finance LLC (leasing), previously owned by the German Volkswagen Financial Services AG, was the Novosibirsk CENTRAL JSC, the beneficiary of which through DNA LLC is Kim.

source = RBC

The agency also draws attention to the fact that JSC "Central Committee" by the beginning of February 2024 also owns a 100% stake in ExpoMobility (Expomobility LLC), which is engaged in operating rental of cars. The former name of this company is ALD Automotive, its assets were acquired by Kim's structure in the spring of 2023 from the Societe Generale group.

In addition, by the beginning of February 2024, Igor Kim's structures owned a number of assets related to the financial business of representative offices of foreign concerns operating in the Russian Federation. In particular, the subsidiaries of the agricultural machinery manufacturer CNH Industrial (now IFS Leasing LLC and IFS Capital LLC), Japanese Mitsubishi (MC Intermark Auto, MSIA LLC), Swedish Volvo (LLC "Drains Financial Services").

In Russia, Volkswagen Group Finance acted as the leasing operator of the German automaker Volkswagen. The company's website reports that in addition to leasing, it provided car loan and factoring services.

In connection with Western sanctions, Volkswagen decided to suspend work in Russia. In particular, the production of cars at factories in Kaluga and Nizhny Novgorod was stopped until further notice.^[1]

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