LIBERTYVILLE, Ill. — Coming off what was a record-setting
year for the captive finance arm for Volkswagen and Audi, VW Credit celebrated
the opening of a 30,000-square-foot expansion of its facility last week.

Officials highlighted the $10 million expansion that was started
last April 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 Christian
Dahlheim, Volkswagen of America executive vice president and chief product and
marketing officer Tim Mahoney, Audi of America executive vice president and
chief operating officer Mark Del Rosso, Libertyville mayor Terry Weppler as
well as 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," Dahlheim said. "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."

Mahoney stated, "VCI's expansion, coupled with increased
U.S. sales among all our brands in 2012, aligns with Volkswagen's ambitious
growth strategy. 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."

Del Rosso added, "During the past three years, Audi has
established new annual sales records in the U.S. 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 Attains Record High in Contracts and Assets in 2012

VW Credit increased the number of all new contracts signed
by 28.3 percent in 2012 compared to 2011, taking on 404,947 deals. The total
number of current contracts increased by 13.4 percent to 950,873 — the highest
amount ever.

Officials said the number of total assets during the
business year 2012 rose by 17.5 percent to the record level of $23 billion.

"We are supporting the brands of Volkswagen Group of America
in their growth strategy with attractive financing solutions and superior
service for our customers. Volkswagen Credit financed 60 percent of all vehicles
sold by the Volkswagen brand and 54 percent of the Audi brand, this allowed us
to accelerate our growth during the business year 2012," Dahlheim said.

In the wholesale financing segment, the receivables from
Volkswagen Group dealers increased 38.3 percent to $2.5 billion. The company
explained This volume essentially covers the financing of vehicles in stock,
plus equipment and investment loans.

VCI increased the number of employees from 1,008 to 1,100 in
the last 12 months, an upsurge of 9 percent.

"The management board of VCI anticipates continuous growth
in 2013," officials said.

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