Volkswagen’s finance operation in Brazil, Banco Volkswagen do Brasil, has gone live using turnkey contract management software from White Clarke Group (WCG).
Banco Volkswagen is offering an operational leasing and fleet management (OLFM) product in Brazil. The project took 18 months to complete and was overseen by Michael Ferreira, head of fleet management and corporate services at VW FS Brazil.
"The Latin American region is a huge market, with more than 3.5 million new-vehicle sales each year," said Ferreira.
WCG has experience of both the Brazilian market and of global fleet-leasing projects and Ferreira congratulated the company on the success of its turnkey OLFM Contract Management System in a "sophisticated and fast-growing market."
Ferreira added OLFM was "a new financial concept for OEMs in the Brazilian automotive finance market. Banco Volkswagen is the first automotive company in the Brazilian market to launch operational leasing fully integrated with fleet management products and services."
In October 2011, WCG spoke of the opportunities available to auto companies in Brazil as its dealer front end system was picked up in eight international markets.
Meanwhile, GM Financial, the finance arm of General Motors, entered the Brazilian market in October this year with the acquisition of Ally Financial’s operations in the nation.