Risk-to-Price Commentary: Volkswagen Financial Services AG Jul 11
Standard & Poors, July 2011
Abstract
Volkswagen has recently made a few upbeat announcements. On July 12, the company said in a press release that the Volkswagen Passenger Cars brand reported an increase in vehicle deliveries during the first half of 2011, handing over more than 2.5 million units during the period. In total, customers received 2.53 million vehicles, up 11.8% from the 2.26 million delivered in first-quarter 2010. The company also announced that it is launching two new special editions of the 2012 Volkswagen Beetle: the Black Turbo and the White Turbo. Shares in Volkswagen have continued their upward trend that started around a year ago, and have substantially outperformed the S&P Europe 350 autos and components subsector and the full S&P Europe 350 Index...
Companies mentioned in this report are:
- Volkswagen Financial Services AG
- Volkswagen Leasing GmbH
- Volkswagen Financial Services N.V.
- GKN Holdings PLC
- BMW Finance N.V.
- BMW (UK) Capital PLC
- Conti-Gummi Finance B.V.
- Piaggio & C. SpA
- Daimler Finance North America LLC
- Renault S.A.
- Peugeot S.A.
- RCI Banque
- Banque PSA Finance
- BMW U.S. Capital LLC
- Daimler International Finance B.V.
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Volkswagen Financial Services AG
- Volkswagen Leasing GmbH
- Volkswagen Financial Services N.V.
- GKN Holdings PLC
- BMW Finance N.V.
- BMW (UK) Capital PLC
- Conti-Gummi Finance B.V.
- Piaggio & C. SpA
- Daimler Finance North America LLC
- Renault S.A.
- Peugeot S.A.
- RCI Banque
- Banque PSA Finance
- BMW U.S. Capital LLC
- Daimler International Finance B.V.
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