Wells Fargo partners with VWFS for U.S. vehicle financing starting April 2025
- Wells Fargo will provide new consumer retail financing for vehicle purchases starting in April 2025.
- The partnership will initially focus on Volkswagen and Audi dealers, with Ducati to follow later.
- This collaboration aims to enhance customer experience and support the growth strategy of Volkswagen Group in the U.S.
Volkswagen Financial Services (VWFS) and Wells Fargo have entered into a multi-year co-branded agreement to provide vehicle purchase financing for Volkswagen, Audi, and Ducati brands in the U.S. market. This partnership is set to begin in April 2025, initially focusing on Audi and Volkswagen dealers, with Ducati to follow later. VWFS will continue to manage existing customer contracts while shifting its focus towards consumer leasing and mobility solutions, aligning with Volkswagen Group's growth strategy in the U.S. The collaboration aims to enhance the customer experience by combining VWFS's automotive expertise with Wells Fargo's financial services capabilities. This strategic move is designed to respond to evolving market dynamics and better support the needs of the brands involved. The agreement will provide a dedicated purchase experience for over 1,000 dealerships across the U.S., ensuring a streamlined process for consumers. Pablo Di Si, President and CEO of Volkswagen Group of America, emphasized the importance of this partnership in positioning the company for future success in the U.S. market. The collaboration is expected to create significant opportunities for both VWFS and Wells Fargo, as they work together to offer comprehensive retail solutions. Wells Fargo, a leading financial services company with approximately $1.9 trillion in assets, aims to transform its auto business through this partnership. The agreement reflects a commitment to building a sustainable and inclusive future, focusing on housing affordability, small business growth, and financial health in the communities they serve.