We are in the last months of 2019, in an exciting year for the auto industry, with its ups and
downs. It’s time to look forward to 2020, and what trends may dominate in the year. As
always, Volkswagen Financial Services will be ready to not just pick up trends, but also set
1. Quality will be King
It’s not just a good car that matters, but also the experience of the financing process. In the
Volkswagen group, delivering quality across our diverse marquees has never been in doubt,
whether it is in terms of engine performance, emissions, sustainability, looks or sheer value
for money. But in a time when car ownership is increasingly competing with ride-sharing,
making the vehicle finance experience enjoyable is a major challenge. No longer are people
merely considering interest rates, EMIs or tenure, but the way it affects their personal
finances, and the return on their investment in the vehicle.
At VWFS, we have taken on that challenge with gusto. With innovations like assured
buyback and balloon financing, we’ve led the market in 2019.
With increasing anxiety about climate change, we’re not surprised that people want cleaner
cars, with reduced or zero emissions. Expect fuel efficiency to claim more limelight in 2020,
as also electric cars (hybrids and fully electric vehicles). Another way to improve vehicle
performance and reduce fuel consumption is to use carbon fiber for building cars, a
technology that the Volkswagen Group has been pioneering.
With India’s National Auto Policy adopting the first world’s Corporate Average Fuel
Efficiency (CAFÉ) norms, it will leapfrog from BSIV standards to BSVI standards in 2020.
The Volkswagen Group is already plugged into the trend, and as our electric cars hit Indian
roads, VWFS will be ready to help you get yours!
3. Customer Service
We can’t say this is a new trend, but developments in Artificial Intelligence and Big Data will
allow us to serve customers’ queries and complaints with faster turnaround times, more
intelligent responses and fewer escalations. Dealerships also stand to gain with better
responses on financing terms, new offers and buyback payments.
Volkswagen Financial Services will make sure that these developments are available
exclusively to our customers as first priority.
4. Automation and Self-driving cars
Cars have become more automatic in certain functions, and we expect the trend to accelerate
in 2020. Automatic brakes that trigger in emergency situations are in an advance stage of deployment, while other innovations from Audi, like the Traffic Jam Pilot, or Volkswagen’s Connected Driving promise to blaze new trails in 2020.
Although self-driving cars have made slower progress than expected in the previous years,
expect them to accelerate in 2020, driven by improvements in AI and motion-sensing
technology. Expect exciting news from the VW Group’s in-house start-up, Volkswagen Autonomy.
5. Increasing Use of Digital Platforms
As more aspects of vehicles are being computerised, expect more use of your smartphone in
controlling your vehicle, alongside other integrated platforms like the Internet of Things
(IoT). But it is not only in the field of digitisation that the Volkswagen Group has taken a
lead, but VWFS too has pioneered digitisation in vehicle finance. In 2020, with our
acquisition of Kuwy technologies, VWFS aims to improve efficiency in processes and reduce
the loan processing time, making it a win-win for both dealers and customers.