VW, Wells Fargo announce vehicle purchase financing cooperation agreement

Volkswagen Financial Services (VWAGY) and Wells Fargo (WFC) announced a multi-year co-branded agreement under which Wells Fargo will be the preferred purchase financing provider for the Volkswagen, Audi, and Ducati brands in the U.S. market. This new relationship is intended to begin for Audi and VW dealers and consumers beginning in April 2025, with Ducati to follow. VWFS will continue to service existing customer contracts. Volkswagen Financial Services will continue to lead the customer experience in the U.S. market with Volkswagen, Audi, and Ducati brand partners and dealers. After this transition, VWFS will focus on consumer leasing and usage-based products, including mobility solutions, supporting Volkswagen Group’s growth strategy in the U.S. “We continuously evaluate our global business to make bold decisions that best position us in each of our markets,” said Pablo Di Si, President and CEO, Volkswagen Group of America. “By aligning ourselves to respond to evolving market dynamics through this partnership, we’re able to more effectively support the needs of Volkswagen, Audi, and Ducati while providing tremendous opportunities for Volkswagen Financial Services in the U.S. market in the future.”