While commercial banks decline the amount of automobile credits, Porsche Finance Group continues financing the purchase of Volkswagen, Audi and Porsche car brands. Thus, for the first three quarters of 2012 from nearly 16,000 automobiles of these brands sold by Porsche Ukraine, more than 25% were purchased on Porsche Finance Group’s financing. At the same time, according to Porsche Finance Group, the market share of automobiles bought on conditions of outer financing (leasing and credit) is about 18% in Ukraine. In general, as for 9 months of 2012 Porsche Finance Group has financed automobiles purchase by 73% more than for the whole 2011.
In the third quarter of 2012, 1215 automobiles of Volkswagen, Audi and Porsche brands were sold on conditions of Porsche Finance Group’s financing. 552 applications for financing of the transport vehicle were submitted in October 2012, which is 16% more, than in September.
“Due to lack of liquidity and the unstable economic situation, commercial banks are already declining the volumes of automobile crediting. In the nearest future, according to our expectations, the credit interests on automobile purchasing will grow up. But even on such conditions Porsche Finance Group has enough funds and possibilities to continue offering beneficial financing for buyers of Volkswagen, Audi and Porsche automobiles, and we are not going to raise our interests” comments Josef Graf, CEO of Porsche Finance Group.
Porsche Finance Group is represented in Ukraine by Porsche Leasing Ukraine, Porsche Mobility and Porsche Insurance Agency. They are owned by the Austrian Porsche Bank, which belongs to Porsche Holding. In Ukraine, Porsche Finance Group provides financial services, operational leasing and car loans for such brands as Volkswagen, Audi and Porsche, both for corporate entities and individuals, being the market leader in financing car purchases. In addition, Porsche Finance Group offers fleet management services for corporate clients, and acts as an intermediary in providing insurance policies for their customers.