HERNDON, Va., Oct. 20 /PRNewswire/ -- VW Credit, Inc. (VCI) continues
to improve its high ranking in the annual J.D. Power Dealer Financing
Satisfaction Study for the second consecutive year. The study investigated
automotive dealer satisfaction with 39 finance providers in segments such
as Prime Retail Credit, Retail Leasing and Floor Planning.
"Volkswagen Credit is pleased with the results of the J.D. Power and
Associates 2008 Dealer Financing Satisfaction Study(SM). Our commitment to
improvement is reflected in this second year of higher rankings," said
Kevin Kelly, VCI president. "VCI advanced remarkably in the three most
important segments of the study."
In the just-released 2008 report, 39 automotive finance providers were
ranked on a 1,000-point scale. VCI scored:
-- 934 points in the Retail Leasing segment (second place)
-- 960 points in the Floor Planning segment (second place)
-- 938 points in the Prime Retail Credit segment (third place)
The Retail Leasing score for VCI gained 42 points, placing the company
first in the Finance Provider Offering Factor segment despite challenging
financial circumstances. This score also catapulted the company from ninth
to second place.
The study's Floor Planning segment shows extremely strong performance
in dealer support, especially in the Floor Planning Inventory Process
Factor where VCI also came in first place, elevating the company to an
overall strong second place.
The Prime Retail Credit rating improvement was driven by strong
performances in the Finance Provider Offering Factor and Credit Personnel
Factor Ranking, narrowing the gap to number one by just eight points and
boosting VCI's position from seventh place in 2007 to a strong third place
in this year's study.
"VCI understands the importance of dealer support, especially in the
days of financial uncertainty, and we are proud to be a stable partner
reflected in the high satisfaction in the floor planning segment," said
Kelly. "We continue responding to feedback from our dealers in terms of
flexible programs and special offers, and these are the results."
About VW Credit, Inc. (VCI)
VW Credit, Inc. (VCI), a wholly owned subsidiary of Volkswagen Group of
America, Inc., was founded in 1981 as the financial service arm of
Volkswagen Group of America, Inc. VCI, a captive finance company, services
Volkswagen, Audi and Bentley Motors retail customers and dealers as
Volkswagen Credit, Audi Financial Services and Bentley Financial Services.
The company provides competitive financial products and services to dealers
and their customers throughout the United States including retail leasing,
retail financing, and balloon financing, along with wholesale financing for
new and used vehicles. We maintain a Remarketing Department for disposing
of end-of-term lease/balloon contract vehicles, and all used company
vehicles. Additionally, VCI manages and markets co-branded financial
services through third-party providers which include the Volkswagen
RealDriver and Audi Pure Protection suites of vehicle protection services,
as well as the Volkswagen Platinum Visa(R) Card and the Audi Visa(R)
Signature Card.
SOURCE Volkswagen Group of America, Inc.
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CONTACT:
Jill Bratina, Volkswagen Group of America,
Inc., +1-202-957-0715, jill.bratina@vw.com
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