VW Credit, Inc. Celebrates Expansion of Libertyville Facility, Creates 150 New
$10 Million Expansion Increases the Facility's Size by Nearly 50
LIBERTYVILLE, IL -- (Marketwire) -- 02/06/13 -- VW Credit, Inc.
(VCI), the captive finance partner of Volkswagen and Audi in the
U.S., today celebrated the opening of a 30,000-square-foot expansion
of its Libertyville facility. The $10 million expansion, started in
April 2012, will provide space for 150 additional jobs that VCI
expects to create through 2018. The VCI Libertyville facility
currently employs nearly 530 employees. The expansion of VCI, one of
Libertyville's largest employers, included the construction of
additional workstations and conference rooms, a larger dining area, a
fitness center, and a total of 650 parking spaces.
Top VCI and Volkswagen Group of America Executives, including VCI
Executive Vice President and Chief Financial Officer Dr. Christian
Dahlheim, Volkswagen of America Executive Vice President and Chief
Product and Marketing Officer Tim Mahoney, Audi of America EVP and
Chief Operating Officer Mark Del Rosso, Libertyville Mayor Terry
Weppler, and political and community leaders, convened to celebrate
the opening of the new Libertyville facility.
"VCI has been experiencing an upsurge in growth in recent years, and
we are pleased to be able to create additional jobs to accommodate
this growth," said Dr. Christian Dahlheim. "The Libertyville Service
Center is our central facility for customer service, and it is our
hub for all IT services and development in the U.S. and Canada."
"VCI's expansion, coupled with increased U.S. sales among all our
brands in 2012, aligns with Volkswagen's ambitious growth strategy,"
said Tim Mahoney. "In 2012, Volkswagen of America sold 438,133 units,
an increase of 35.1 percent. Last year marked the third consecutive
year of significant double-digit growth rates, and we more than
doubled our volume of 2009. The VCI employees have worked very hard
to establish foundations for success in the U.S. market, and they
deserve so much credit for setting this new record."
"During the past three years, Audi has established new annual sales
records in the U.S.," said Mark Del Rosso. "If anything, we expect
the pace of Audi growth to dramatically increase in the years ahead.
That's why it is important for our partners in the financing business
to expand as our brand expands."
VCI, which provides financial products and services to Volkswagen and
Audi dealers and their customers in the U.S., has been operating from
the Franklin Boulevard site in Libertyville since 1999. The company
offers retail leasing and financing, as well as wholesale financing
solutions for new and used vehicles. VW Credit, Inc. also manages and
markets co-branded financial services through third-party providers
About VW Credit, Inc.
VW Credit, Inc. (VCI), a wholly owned subsidiary of Volkswagen Group
of America, Inc. (VWGoA), was founded in 1981 to function as the
financial service arm of VWGoA. VCI, a captive finance company,
services Volkswagen and Audi customers, authorized automotive dealers
and their affiliated stores as Volkswagen Credit and Audi Financial
Services. The company provides competitive financial products and
services to dealers and their customers in the United States. It
maintains operational and customer service centers in Libertyville,
Ill. and Portland, Ore.; a lease-end services and remarketing
department in Auburn Hills, Mich.; as well as regional offices in
Westlake Village, Calif.; Alpharetta, Ga.; Woodcliff Lake, N.J.;
Irving, Texas; and Rosemont, Ill.
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