Fleet News

Nimble Volkswagen Financial Services 'places its bets in the right areas'

Mike Todd of VWFS

Volkswagen Financial Services (VWFS) chief executive officer Mike Todd (left) has become adept at wearing two hats. One is intrinsically linked to the electric vehicle (EV) and mobility aspirations of VW Group; the other manages the demands of multi-marque leasing as a cornerstone of its growth aspirations.

The funding and fleet management provider straddles the business and retail markets, funding 180,000 cars and 21,000 vans, of which around 40,000 are corporate.

The rest is retail contract hire via the dealer network, which includes some business leases. It also manages service contracts for around 680,000 vehicles.

A quarter of its fleet portfolio is non-Volkswagen Group vehicles, a “healthy mix within corporate”, according to Todd. All retail business is own marque.

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