3 April 2015

VW Bank lent over €288m in car finance in 2014

Audi A6
Volkswagen Bank Ireland provided Irish consumers with car finance in excess of €228 million in 2014. This shows a growth of over 34 percent, year on year, writes Trish Whelan.

Volkswagen say the availability of flexible finance packages like PCP are driving sales growth across the Group with vW brands now accounting for 25 percent market share.

PCP now accounts for almost two thirds of all new vehicles sold by Volkswagen Bank which delivered financial funding of more than €135 million to almost 7,500 customers in the first quarter of 2015.

Figures show Audi is the leading premium brand in Ireland, ahead of BMW and Mercedes-Benz with 4.0 percent market share. Skoda is up 14.6 percent on its sales for Q1 of this year and SEAT continues to show growth with a 9.6 percent growth YTD.

VW Commercial Vehicles had a 55 percent increase in the first quarter compared to 2014 with the Caddy remaining their top-selling model. VW Commercial Vehicles is the only brand in Ireland offering commercial vehicle PCP.