Volkswagen Financial Services AG (VFS), Europe's largest provider of automobile-related financial services, has arrived in Malaysia, operating through its wholly-owned subsidiary Volkswagen Capital Advisory (VCA).
The newly set-up company will provide vehicle financing and insurance services for all Volkswagen passenger cars in Malaysia. Aside from regular vehicle financing, VCA will also offer financial services compliant with the principles of Islamic banking.
No mention was made of the financing plans and packages available, or if VCA will have similar schemes as that offered by BMW Credit and Mercedes-Benz Financial Services.
Malaysia becomes the latest market for Volkswagen Financial Services, which offers its services in 50 countries across the globe. The move here is timely, according to VFS' regional manager for China, India and ASEAN, Reinhard Fleger.
"In Malaysia, Volkswagen is already manufacturing several car models and systematically building up its dealer network. In our capacity as a captive financial services provider, we are following the Volkswagen Group brands and are continuing our strategy of international growth by entering the Malaysian market now," he said in a press statement.
"Our aim is to promote the sales of Volkswagen Group brands by providing attractive products and to strengthen the relationship between the dealer and customer," he added.
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