VWNMS Dr. Frank Galas 24 th September 2014 Volkswagen Leasing China 1

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2 Leasing is the natural choice for commercial customers Fixed low monthly leasing payments full transparency and cost control No bound capital and higher financial freedom for the business Off balance sheet the vehicles are not considered as assets No risk of unforeseen running costs No risk of unforeseen financial loss at used car disposal One contact person for all mobility needs Always drive the most efficient and latest fuel efficient vehicles 2

3 Commercial new car registrations China (only official regs.) 3

4 Leasing in China four general insights 融 资 经 营 Leasing is a new concept No differentiation between Long Term Operating Leasing and Short Term Rental. The vehicles have to be registered on the Leasing company. No single nationwide regulation Provinces implement regulations autonomously for rental / leasing business: Commercial car plate usage (RV reduction by 10-15%), requirement on parking spaces, Low planning reliability due to changes in regulations without warning. Car plate restrictions The city centeres of Beijing, Shanghai, Tianjin and Hangzhou cannot be entered by vehicles with car plates from other cities. Other cities are likely to follow. Highly restricted number of car plates are assigned for leasing / rental business. M&A and the local Used Car market are the available sources for car plates. Business license restrictions Shanghai: No new business licenses granted for leasing / rental for several years In many cities the set-up of subsidiaries is mandatory for operations. 4

5 Highly fragmented Chinese car rental market Market shares* of rental companies in China Reduction to fewer nationwide operating market players expected. High competition amongst nationwide market players. * Long Term Leasing market share. Total Long Term Leasing fleet of 300,000 vehicles assumed. 5

6 Volkswagen has almost 50 years of experience in the leasing business, and China is one of our focus markets 1966 Launch in Germany 2012 Launch in China 2013 National Expansion Going forward Beijing Shanghai Professional leasing provider with 38 countries coverage worldwide VW decides to take its worldwide leasing expertise and experience to China First phase of nationwide roll-out in China to 14 cities in 2013 Second phase of nationwide roll-out in China to 30 cities in 2016 Market leader in Europe with 47 years of experience in leasing Establishment of VW Leasing Beijing & Shanghai in 2012 Focus on metropolitan areas at the eastern coast of China Offer VW Leasing product portfolio Offer nationwide leasing network Provides one-stop mobility solution including short-term mobility needs 6

7 We are already active in 14 major cities in China: Over the next 2 years we are going to launch in 17 additional branches Lanzhou Zhengzhou Taiyuan Beijing Hairpin Changchun Shenyang Tianjin Dalian Jinan Xi an Qingdao Nanjing Wuxi Chengdu Changzhou Suzhou Shanghai Jiaxing Legend Current Operations Chongqing Guiyang Ningbo Shaoxing Hangzhou Launch in Kunming Dongguan Hefei Shenzhen Guangzhou Wuhan Changsha 7

8 Volkswagen Leasing aims to be a one-stop service provider for automotive mobility and covers long-term mobility demand comprehensively Remarketing Chauffeur Services Fleet Monitoring Vehicle Financing Insurance Related Services High-quality maintenance Vehicle delivery and registration 24h Hotline and Road-side Assistance Replacement Mobility 8

9 We are also planning to further expand our service portfolio to cover short-term mobility needs Corporate Car Sharing Remarketing Chauffeur Services Fleet Monitoring Car Sharing Vehicle Financing Insurance Related Services High-quality maintenance Vehicle delivery and registration Financial Leasing and more! 24h Hotline and Road-side Assistance Replacement Mobility 9

10 Volkswagen Leasing can provide its customers with all Volkswagen Group brands and more, covering all sectors of automotive mobility VOLKSWAGEN LEASING CHINA Other VW Group brands If required, Volkswagen Leasing will also provide any other car make at competitive prices 10

11 Please get in touch with us via our website, or have a look at our leasing brochure! 11