FORM 10-K

 UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 WASHINGTON,
D.C. 20549

 FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE

 SECURITIES EXCHANGE ACT OF 1934

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
 ACT OF 1934

 For the fiscal year ended December 31, 2024

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
 EXCHANGE ACT OF 1934

 For the transition period from
 to

 333-269194-02

 (Commission File Number of Issuing Entity)

 Volkswagen Auto
Loan Enhanced Trust 2023-2

 (Exact name of Issuing Entity as specified in its
charter)

 Central Index Key Number of Issuing Entity: 0001998124

 Volkswagen Auto
Lease/Loan Underwritten Funding, LLC

 (Exact name of Depositor as specified in its charter)

 Central Index Key Number of Depositor: 0001182534

 VW Credit, Inc.

 (Exact name of Sponsor as specified in its charter)

 Central Index Key Number of Securitizer: 0000833733

 State of Delaware

 38-2362409

 (State or other jurisdiction of

 (I.R.S. Employer

 incorporation or organization of

Registrant)

 Identification No. of Registrant)

 1950 Opportunity Way, Suite 1500

 Reston, Virginia

 20190

 (Address of principal executive offices of Registrant)

 (Zip Code of Registrant)

 (703) 364-7000

 (Registrant's telephone number, including
area code)

 Securities registered pursuant to Section 12(b) of the Securities
Exchange Act:

 Title of each
 class

 Trading Symbol(s)

 Name of each
 exchange on which registered

 None

 N/A

 None

 Securities
registered pursuant to Section 12(g) of the Securities Exchange Act: None

by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act. Yes No

by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes
No

 Indicate by check mark whether the registrant has submitted
electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of
this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No

 Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions
of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging
growth company" in Rule 12b-2 of the Exchange Act.

 Large accelerated filer:

 Accelerated filer:

 Non- accelerated
filer:

 Smaller reporting company:

 Emerging growth company:

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the
registered public accounting firm that prepared or issued its audit report. Not Applicable

 If securities are registered pursuant to Section 12(b) of
the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an
error to previously issued financial statements.

 Indicate by check mark whether any of those error
corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's
executive officers during the relevant recovery period pursuant to §240.10D-1(b).

by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act).
 Yes No

 State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked
price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter. None

 Documents incorporated by reference: None

 FORM 10-K

 PART 1

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J(1) TO FORM 10-K:

 (A)
 Item 1

 Business.

 (B)
 Item 1A

 Risk Factors and Item 1C, Cybersecurity.

 (C)
 Item 2

 Properties.

 (D)
 Item 3

 Legal Proceedings.

 Item 1B. Unresolved Staff Comments.

 Item 4. Mine Safety Disclosures.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J(1) TO FORM 10-K:

 (A)

 Item 5

 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

 (B)

 Item 6

 [Reserved]

 (C)

 Item 7

 Management's Discussion and Analysis of Financial Condition and Results of Operations.

 (D)

 Item 7A

 Quantitative and Qualitative Disclosures About Market Risk.

 (E)

 Item 8

 Financial Statements and Supplementary Data.

 (F)

 Item 9

 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

 (G)

 Item 9A

 Controls and Procedures.

 Item 9B. Other Information.

 None.

 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent
Inspections.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J(1) TO FORM 10-K:

 (A)
 Item 10

 Directors, Executive Officers and Corporate Governance.

 (B)
 Item 11

 Executive Compensation.

 (C)

 Item 12

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 (D)
 Item 13

 Certain Relationships and Related Transactions, and Director Independence.

 (E)
 Item 14

 Principal Accountant Fees and Services.

 Item 15. Exhibits and Financial Statement Schedules.

 (a)
 (1)

 Not applicable.

 (2)
 Not applicable.

 (3)
 The exhibits filed in response to Item 601 of Regulation S-K
are listed in the Exhibit Index.

 (b)
 The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.

 (c)
 None.

 Item 16. Form 10-K Summary.

 SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION
J(2) TO FORM 10-K:

 Item 1112(b) of Regulation AB. Significant Obligors of Pool
Assets (Financial Information).

 Item 1114(b)(2) of Regulation AB. Credit Enhancement and Other
Support, Except for Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers).

 Item 1115(b) of Regulation AB. Certain Derivatives Instruments
(Financial Information).

 Item 1117 of Regulation AB. Legal Proceedings.

 Except as described below, no legal proceedings are pending against any of VW Credit, Inc. (in its capacity as the sponsor (the "Sponsor"),
in its capacity as an originator contemplated by Item 1110(b) of Regulation AB (the "Originator"), in its capacity as servicer
(the "Servicer") and in its capacity as administrator of Volkswagen Auto Loan Enhanced Trust 2023-2 (the "Issuing Entity")),
Volkswagen Auto Lease/Loan Underwritten Funding, LLC (the "Depositor"), Citibank, N.A. (the "Indenture Trustee"),
U.S. Bank Trust National Association (the "Owner Trustee"), or the Issuing Entity or of which any property of the foregoing
is the subject that are or would be material to holders of the asset-backed notes (the "Notes") or the asset-backed certificate
(the "Certificate"). No such proceedings are known to be contemplated by governmental authorities.

 VW Credit and its affiliates are parties to, or
are periodically otherwise involved in, reviews, investigations, and proceedings (both formal and informal), and information gathering
requests by various federal, state and local government authorities.

 Owner Trustee Litigation

 U.S. Bank Trust National Association, as the Owner Trustee has provided the following information for inclusion in this report on Form
10-K:

 U.S. Bank N.A. and other large financial institutions have been sued
in their capacity as trustee or successor trustee for certain residential mortgage-backed securities ("RMBS") trusts. The
complaints, primarily filed by investors or investor groups against U.S. Bank N.A. and similar institutions, allege the trustees caused
losses to investors as a result of alleged failures by the sponsors, mortgage loan sellers and servicers to comply with the governing
agreements for these RMBS trusts. Plaintiffs generally assert causes of action based upon the trustees' purported failures to enforce
repurchase obligations of mortgage loan sellers for alleged breaches of representations and warranties, notify securityholders of purported
events of default allegedly caused by breaches of servicing standards by mortgage loan servicers and abide by a heightened standard of
care following alleged events of default.

 U.S. Bank N.A. denies liability and believes that
it has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of losses to investors, that
it has meritorious defenses, and it has contested and intends to continue contesting the plaintiffs' claims vigorously. However,
U.S. Bank N.A. cannot assure you as to the outcome of any of the litigation, or the possible impact of these litigations on the trustee
or the RMBS trusts.

 On March 9, 2018, a law firm purporting to represent
fifteen Delaware statutory trusts (the "DSTs") that issued securities backed by student loans (the "Student Loans")
filed a lawsuit in the Delaware Court of Chancery against U.S. Bank N.A. in its capacities as indenture trustee and successor special
servicer, and three other institutions in their respective transaction capacities, with respect to the DSTs and the Student Loans. This
lawsuit is captioned The National Collegiate Student Loan Master Trust I, et al. v. U.S. Bank National Association, et al., C.A. No. 2018-0167-JRS
(Del. Ch.) (the "NCMSLT Action"). The complaint, as amended on June 15, 2018, alleged that the DSTs have been harmed as a
result of purported misconduct or omissions by the defendants concerning administration of the trusts and special servicing of the Student
Loans. Since the filing of the NCMSLT Action, certain Student Loan borrowers have made assertions against U.S. Bank N.A. concerning special
servicing that appear to be based on certain allegations made on behalf of the DSTs in the NCMSLT Action.

 U.S. Bank N.A. has filed a motion seeking dismissal
of the operative complaint in its entirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or, in the alternative,
a stay of the case while other prior filed disputes involving the DSTs and the Student Loans are litigated. On November 7, 2018, the Court
ruled that the case should be stayed in its entirety pending resolution of the first-filed cases. On January 21, 2020, the Court entered
an order consolidating for pretrial purposes the NCMSLT Action and three other lawsuits pending in the Delaware Court of Chancery concerning
the DSTs and the Student Loans, which remains pending.

 U.S. Bank N.A. denies liability in the NCMSLT
Action and believes it has performed its obligations as indenture trustee and special servicer in good faith and in compliance in all
material respects with the terms of the agreements governing the DSTs and that it has meritorious defenses. It has contested and intends
to continue contesting the plaintiffs' claims vigorously.

 Item 1119 of Regulation AB. Affiliations and Certain Relationships
and Related Transactions.

 Information required by Item 1119 of Regulation AB has been omitted
from this report on Form 10-K in reliance on the Instruction to Item 1119.

 Item 1122 of Regulation AB. Compliance with Applicable Servicing
Criteria.

 The Servicer and the Indenture Trustee (collectively, the "Servicing
Parties") have each been identified by the Depositor as parties participating in the servicing function with respect to the asset
pool held by the Issuing Entity. Each of the Servicing Parties has completed a report on an assessment of compliance with the servicing
criteria set forth in paragraph (d) of Item 1122 of Regulation AB applicable to it (each, a "Servicing Assessment Report"),
which Servicing Assessment Reports are attached as exhibits to this Form 10-K. In addition, each of the Servicer and the Indenture
Trustee has provided an attestation report (each, an "Attestation Report") by a registered public accounting firm, which reports
are also attached as exhibits to this Form 10-K. Neither the Indenture Trustee's Servicing Assessment Report nor the Indenture
Trustee's Attestation Report has identified any material instance of noncompliance with the servicing criteria applicable to the
Indenture Trustee.

 The Servicer complied in all material respects with the servicing criteria
applicable to it.

 Item 1123 of Regulation AB. Servicer Compliance Statement.

 The Servicer has completed a statement of compliance with its activities
during the reporting period and of its performance under the applicable servicing agreement (a "Compliance Statement"), signed
by an authorized officer of the Servicer. The Compliance Statement is attached as Exhibit 35.1 to this Form 10-K.

 EXHIBIT INDEX

 Exhibit 31.1

 Certification of Senior Officer in Charge of the Servicing Function of the Servicer Pursuant to Rule 15d-14(d).

 Exhibit 33.1

 Report on Assessment of Compliance with Applicable Servicing Criteria of VW Credit, Inc.

 Exhibit 33.2

 Report on Assessment of Compliance with the Servicing Criteria of Citibank, N.A.

 Exhibit 34.1

 Attestation Report on Assessment of Compliance with the Servicing Criteria of Baker Tilly US, LLP, on behalf of VW Credit, Inc.

 Exhibit 34.2

 Attestation Report on Assessment of Compliance with the Servicing Criteria of KPMG LLP, on behalf of Citibank, N.A.

 Exhibit 35.1

 Annual Servicer Compliance Statement of the Servicer for the year ended December 31, 2024.

 SIGNATURES

 Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Depositor has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

 March 28, 2025

 VOLKSWAGEN
 AUTO LOAN ENHANCED TRUST 2023-2

 By: VW Credit, Inc., as Servicer

 By:

 /s/ Garett Miles

 Garett Miles

Head of Securitization and Assistant Treasurer

 (senior officer in charge of the servicing function)


FORM 10-K

 UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 WASHINGTON,
D.C. 20549

 FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE

 SECURITIES EXCHANGE ACT OF 1934

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
 SECURITIES EXCHANGE ACT OF 1934

 For the fiscal year ended December 31, 2024

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
 THE SECURITIES EXCHANGE ACT OF 1934

 For the transition period from
 to

 333-249906-04

 (Commission File Number of Issuing Entity)

 Volkswagen Auto
Lease Trust 2024-A

 (Exact name of Issuing Entity as specified in its
charter)

 Central Index Key Number of Issuing Entity: 0002010414

 Volkswagen Auto
Lease/Loan Underwritten Funding, LLC

 (Exact name of Depositor as specified in its charter)

 Central Index Key Number of Depositor: 0001182534

 VW Credit, Inc.

 (Exact name of Sponsor as specified in its charter)

 Central Index Key Number of Securitizer: 0000833733

 State of Delaware

 93-6969492

 (State or other jurisdiction of

 (I.R.S. Employer

 incorporation or organization of Registrant)

 Identification No.

 of Registrant)

 1950
 Opportunity Way, Suite 1500

 20190

 Reston,
 Virginia

 (Zip
 Code of Registrant)

 (Address
 of principal executive offices of Registrant)

 (703) 364-7000

 (Registrant's telephone number, including
area code)

 Securities registered pursuant to Section 12(b) of the Securities
Exchange Act:

 Title of each
 class

 Trading Symbol(s)

 Name of each
 exchange on which registered

 None

 N/A

 None

 Securities
registered pursuant to Section 12(g) of the Securities Exchange Act: None

by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities
Act. Yes No

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the
Securities Exchange Act. Yes
No

by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),
and (2) has been subject to such filing requirements for the past 90 days. Yes
 No

 Indicate by check mark whether the registrant has submitted electronically
every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during
the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 Yes No

 Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, o a smaller reporting company, or an emerging growth company. See the definitions
of "large accelerated filer," "accelerated filer," "smaller reporting company", and "emerging
growth company" in Rule 12b-2 of the Exchange Act.

 Large
 accelerated filer:

 Accelerated
 filer:

 Non-accelerated
 filer:

 Smaller
reporting company:

 Emerging
 growth company:

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the
registered public accounting firm that prepared or issued its audit report. Not Applicable

 If securities are registered pursuant to Section 12(b) of
the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an
error to previously issued financial statements.

 Indicate by check mark whether any of those error
corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's
executive officers during the relevant recovery period pursuant to §240.10D-1(b).

by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act). Yes
No

 State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked
price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter. None

 Documents incorporated by reference: None

 FORM 10-K

 PART 1

 THE FOLLOWING ITEMS HAVE BEEN OMITTED
IN ACCORDANCE WITH GENERAL INSTRUCTION J(1) TO FORM 10-K:

 (A)
 Item

 Business.

 (B)
 Item
 1A

 Risk Factors and Item 1C,
 Cybersecurity.

 (C)
 Item

 Properties.

 (D)
 Item

 Legal Proceedings.

 Item 1B. Unresolved Staff Comments.

 Item 4. Mine Safety Disclosures.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED
IN ACCORDANCE WITH GENERAL INSTRUCTION J(1) TO FORM 10-K:

 (A)
 Item

 Market
 for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of
 Equity Securities.

 (B)
 Item

 [Reserved]

 (C)
 Item

 Management's
 Discussion and Analysis of Financial Condition and Results of Operations.

 (D)
 Item
 7A

 Quantitative
 and Qualitative Disclosures About Market Risk.

 (E)
 Item

 Financial
 Statements and Supplementary Data.

 (F)
 Item

 Changes
 in and Disagreements with Accountants on Accounting and Financial Disclosure.

 (G)
 Item
 9A

 Controls
 and Procedures.

 Item 9B. Other Information.

 None.

 Item 9C. Disclosure Regarding Foreign
Jurisdictions that Prevent Inspections.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED
IN ACCORDANCE WITH GENERAL INSTRUCTION J(1) TO FORM 10-K:

 (A)
 Item 10

 Directors, Executive Officers
 and Corporate Governance.

 (B)
 Item 11

 Executive Compensation.

 (C)
 Item

 Security
 Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 (D)
 Item 13

 Certain Relationships and
 Related Transactions, and Director Independence.

 (E)
 Item 14

 Principal Accountant Fees
 and Services.

 Item 15. Exhibits and Financial Statement
Schedules.

 (a)
 (1) Not
 applicable.

 (2)
 Not applicable.

 (3)
 The exhibits filed in response to Item
 601 of Regulation S-K are listed in the Exhibit Index.

 (b)
 The exhibits filed in response to Item
 601 of Regulation S-K are listed in the Exhibit Index.

 (c)
 None.

 Item 16. Form 10-K Summary.

 SUBSTITUTE INFORMATION PROVIDED IN
ACCORDANCE WITH GENERAL INSTRUCTION J(2) TO FORM 10-K:

 Item 1112(b) of Regulation AB.
Significant Obligors of Pool Assets (Financial Information).

 Item 1114(b)(2) of Regulation
AB. Credit Enhancement and Other Support, Except for Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers).

 Item 1115(b) of Regulation AB.
Certain Derivatives Instruments (Financial Information).

 Item 1117 of Regulation AB. Legal
Proceedings.

 Except as described below, no legal proceedings are pending against any of VW Credit, Inc. (in its capacity as the sponsor (the "Sponsor"),
in its capacity as an originator contemplated by Item 1110(b) of Regulation AB (the "Originator"), in its capacity as servicer
(the "Servicer") and in its capacity as administrator of Volkswagen Auto Lease Trust 2024-A (the "Issuing Entity")),
Volkswagen Auto Lease/Loan Underwritten Funding, LLC (the "Depositor"), Citibank, N.A. (the "Indenture Trustee"),
VW Credit Leasing, Ltd. (the "Origination Trust"), Deutsche Bank Trust Company Delaware (the "Owner Trustee"),
U.S. Bank Trust Company, National Association (in its capacity as UTI trustee (the "UTI Trustee"), in its capacity as transaction
SUBI trustee (the "Transaction SUBI Trustee") and in its capacity as administrative trustee (the "Administrative Trustee"),
or the Issuing Entity or of which any property of the foregoing is the subject that are or would be material to holders of the asset-backed
notes (the "Notes") or the asset-backed certificate (the "Certificate"). No such proceedings are known to be contemplated
by governmental authorities.

 VW Credit and its affiliates are parties to, or are periodically otherwise involved in, reviews, investigations, and proceedings (both formal and
informal), and information gathering requests by various federal, state and local government authorities.

 UTI Trustee, SUBI Trustee and
Administrative Trustee Litigation

 U.S.
Bank Trust Company, National Association, as the UTI Trustee, SUBI trustee and the Administrative
Trustee has provided the following information for inclusion in this report on Form 10-K:

 U.S. Bank N.A. and other large financial
institutions have been sued in their capacity as trustee or successor trustee for certain residential mortgage-backed securities ("RMBS")
trusts. The complaints, primarily filed by investors or investor groups against U.S. Bank N.A. and similar institutions, allege the trustees
caused losses to investors as a result of alleged failures by the sponsors, mortgage loan sellers and servicers to comply with the governing
agreements for these RMBS trusts. Plaintiffs generally assert causes of action based upon the trustees' purported failures to enforce
repurchase obligations of mortgage loan sellers for alleged breaches of representations and warranties, notify securityholders of purported
events of default allegedly caused by breaches of servicing standards by mortgage loan servicers and abide by a heightened standard of
care following alleged events of default.

 U.S. Bank N.A. denies liability and
believes that it has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of losses to
investors, that it has meritorious defenses, and it has contested and intends to continue contesting the plaintiffs' claims vigorously.
However, U.S. Bank N.A. cannot assure you as to the outcome of any of the litigation, or the possible impact of these litigations on
the trustee or the RMBS trusts.

 On March 9, 2018, a law firm purporting
to represent fifteen Delaware statutory trusts (the "DSTs") that issued securities backed by student loans (the "Student
Loans") filed a lawsuit in the Delaware Court of Chancery against U.S. Bank N.A. in its capacities as indenture trustee and successor
special servicer, and three other institutions in their respective transaction capacities, with respect to the DSTs and the Student Loans.
This lawsuit is captioned The National Collegiate Student Loan Master Trust I, et al. v. U.S. Bank National Association, et al., C.A.
No. 2018-0167-JRS (Del. Ch.) (the "NCMSLT Action"). The complaint, as amended on June 15, 2018, alleged that the
DSTs have been harmed as a result of purported misconduct or omissions by the defendants concerning administration of the trusts and
special servicing of the Student Loans. Since the filing of the NCMSLT Action, certain Student Loan borrowers have made assertions against
U.S. Bank N.A. concerning special servicing that appear to be based on certain allegations made on behalf of the DSTs in the NCMSLT Action.

 U.S. Bank N.A. has filed a motion seeking
dismissal of the operative complaint in its entirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or,
in the alternative, a stay of the case while other prior filed disputes involving the DSTs and the Student Loans are litigated. On November 7,
2018, the Court ruled that the case should be stayed in its entirety pending resolution of the first-filed cases. On January 21,
2020, the Court entered an order consolidating for pretrial purposes the NCMSLT Action and three other lawsuits pending in the Delaware
Court of Chancery concerning the DSTs and the Student Loans, which remains pending.

 U.S. Bank N.A. denies liability in the
NCMSLT Action and believes it has performed its obligations as indenture trustee and special servicer in good faith and in compliance
in all material respects with the terms of the agreements governing the DSTs and that it has meritorious defenses. It has contested and
intends to continue contesting the plaintiffs' claims vigorously.

 Owner Trustee Litigation

 Deutsche Bank Trust Company Delaware,
as the Owner Trustee, has provided the following information for inclusion in this report on Form 10-K:

 In 2014 and 2015, several investors sued several trustees of residential
mortgage-backed securities ("RMBS") trusts, including Deutsche Bank Trust Company Americas ("DBTCA"), concerning
the trustees' administration of RMBS trusts. These cases generally alleged that the RMBS trustees failed to perform purported duties,
as trustees for private-label RMBS trusts, to enforce breaches of representations and warranties as to mortgage loans held by the trusts
and to enforce breaches by servicers of their mortgage loan servicing obligations for the trusts. Investors have sued DBTCA in six of
these cases. DBTCA has settled two cases brought by funds managed by Blackrock Advisors, LLC, PIMCO-Advisors, L.P. and others; and obtained
summary judgment in one case, brought by certain special purpose entities including Phoenix Light SF Limited. In addition, the two cases
described below remain active.

 On November 30, 2017, DBTCA was added as a defendant to a case brought
by Commerzbank AG ("Commerzbank") in the U.S. District Court for the Southern District of New York, in which Commerzbank previously
alleged incorrectly that Deutsche Bank National Trust Company ("DBNTC") served as trustee for all 50 of the trusts at issue.
On November 30, 2017, Commerzbank filed a second amended complaint that names DBTCA as a defendant in addition to DBNTC. DBTCA serves
as trustee for 1 of the 50 trusts at issue. DBNTC serves as trustee for the other 49 trusts at issue. Commerzbank's second amended
complaint brings claims for violation of the U.S. Trust Indenture Act of 1939 ("TIA"); breach of contract; breach of fiduciary
duty; negligence; violation of the New York Streit Act ("Streit Act"); and breach of the covenant of good faith. However,
in the second amended complaint, Commerzbank acknowledges that, before DBTCA was added to the case, the court dismissed Commerzbank's
TIA claims for the trusts governed by pooling and servicing agreements, as well as its Streit Act claims and claims for breach of the
covenant of good faith, and Commerzbank only includes these claims to preserve any rights on appeal. The second amended complaint alleges
that DBNTC and DBTCA caused Commerzbank to suffer "hundreds of millions of dollars in losses," but the complaint does not
include a demand for money damages in a sum certain. On January 29, 2018, DBNTC and DBTCA filed an answer to the second amended complaint.
On December 7, 2018, DBNTC and DBTCA filed a motion for summary judgment. Also on December 7, 2018, Commerzbank, jointly with the Phoenix
Light plaintiffs, filed a motion for partial summary judgment. On February 8, 2022, the court issued an order in which it granted in part
DBNTC and DBTCA's motion for summary judgment and denied plaintiffs' motion for partial summary judgment. As a result of that
order, many of plaintiffs' claims and theories were dismissed with prejudice. On September 26, 2024, DBNTC and DBTCA filed a motion
for summary judgment, which has been fully briefed.

 On December 30, 2015, IKB International, S.A. in Liquidation and IKB
Deutsche Industriebank A.G. (collectively, "IKB"), as an investor in 37 RMBS trusts, filed a summons with notice in the Supreme
Court of the State of New York, New York County, against DBNTC and DBTCA as trustees of the trusts. On May 27, 2016, IKB served its complaint
asserting claims for breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts of interest, violation of the Streit
Act, violation of the TIA, violation of Regulation AB, and violation of Section 9 of the Uniform Commercial Code. IKB alleges that DBNTC
and DBTCA are liable for over U.S. $268 million in damages. On October 5, 2016, DBNTC and DBTCA, together with several other trustees
defending lawsuits by IKB, filed a joint motion to dismiss. On January 6, 2017, IKB filed a notice of discontinuance, voluntarily dismissing
with prejudice all claims as to three trusts. On June 20, 2017, the parties filed a stipulation, voluntarily dismissing with prejudice
all claims as to four additional trusts. On January 27, 2021, the court granted in part and denied in part DBNTC and DBTCA's motion
to dismiss. The court granted the motion to dismiss with respect to IKB's claims for violations of the Streit Act, Regulation AB,
and Section 9 of the Uniform Commercial Code, as well as certain aspects of IKB's claims for breach of contract, breach of fiduciary
duty, and violation of the TIA. The court denied the remainder of the motion to dismiss. IKB's remaining claims for breach of contract,
breach of fiduciary duty, breach of duty to avoid conflicts of interest, and violation of the TIA will proceed. On May 10, 2021, DBNTC
and DBTCA filed a notice of appeal with the New York Supreme Court Appellate Division, First Department, regarding certain aspects of
the court's order on the motion to dismiss. On May 20, 2021, IKB filed a notice of cross appeal with respect to other aspects of
that order. On August 30, 2022, the New York Supreme Court, Appellate Division, First Department affirmed in part and reversed in part
the court's order on the motion to dismiss. After DBNTC and DBTCA appealed the First Department's decision, on June 15, 2023,
the New York Court of Appeals reversed the First Department's decision in part, dismissing certain additional contract claims, as
well as IKB's claims for breach of fiduciary duty and breach of duty to avoid conflicts of interest. On June 2, 2021, IKB filed
a motion for re-argument regarding certain aspects of the court's order on the motion to dismiss, which the court denied on August
3, 2021. On May 13, 2021, DBNTC and DBTCA filed an answer to the complaint. On October 28, 2021, the parties filed a stipulation, voluntarily
dismissing with prejudice all claims as to seven additional trusts. On December 29, 2021, the parties filed a stipulation, voluntarily
dismissing with prejudice all claims as to one additional trust. On April 22, 2022, the parties filed a stipulation, voluntarily dismissing
with prejudice all claims as to 17 certificates at issue, including all claims as to 5 trusts. On February 28, 2023, the parties filed
a stipulation, voluntarily dismissing with prejudice all claims as to two trusts, leaving 15 trusts at issue. On November 21, 2023, the
parties filed a stipulation, voluntarily dismissing with prejudice all claims as to three trusts, leaving 12 trusts at issue. On November
14, 2024, DBNTC and DBTCA filed a motion for summary judgment. Also on November 14, 2024, IKB filed a motion for partial summary judgment.
Those motions are being briefed.

 It is DBTCA's belief that it has no pending legal proceedings (including, based on DBTCA's current evaluation, the litigation
disclosed in the foregoing paragraphs) that would materially affect its ability to perform its duties under the Amended and Restated Trust
Agreement for this transaction.

 Item 1119 of Regulation AB. Affiliations
and Certain Relationships and Related Transactions.

 The Sponsor is the originator, as contemplated by Item 1110 of Regulation AB, of all of the pool assets owned by the Issuing Entity. The
Sponsor is also the Servicer. The Depositor is a wholly-owned subsidiary of the Sponsor and, therefore, a wholly-owned subsidiary of the
originator and the Servicer. The Issuing Entity was formed by the Depositor. VW Credit, Inc. is the Administrator of the Issuing Entity
and the Depositor is the holder of the Issuing Entity's Certificate, representing the residual interest in the Issuing Entity. The
Sponsor is settlor and initial beneficiary of the Origination Trust. The asset pool represents a portfolio of assets held by the Origination
Trust in which the Issuing Entity holds a beneficial interest.

 Other than as specified in this Item above, none of VW Credit, Inc., the Depositor, the Origination Trust or the Issuing Entity is an
affiliate of any of the following parties, and, except as described below, none of the following parties are affiliates of any of the
other following parties:

 (1)
 Indenture
 Trustee.

 (2)
 Owner
 Trustee.

 (3)
 U.S. Bank Trust Company, National Association
 (in its capacities as UTI Trustee, Transaction SUBI Trustee and Administrative Trustee).

 (4)
 Delaware
 Trustee.

 There are no significant obligors contemplated
by Item 1112 of Regulation AB, enhancement or support providers contemplated by Item 1114 or 1115 of Regulation AB, or other material
parties related to the Notes contemplated by Item 1101(d)(1) of Regulation AB.

 In addition, to the best of our knowledge, there are no business relationships, agreements, arrangements, transactions or understandings
entered into outside the ordinary course of business or on terms other than would be obtained in an arm's length transaction with
an unrelated third party, apart from the asset-backed securities transaction involving the issuance of the Notes and the Certificate by
the Issuing Entity, between VW Credit, Inc. (in its capacities as Sponsor, Originator, Servicer or Administrator), the Depositor, the
Origination Trust, the Indenture Trustee, the Owner Trustee, U.S. Bank Trust Company, National Association (in its capacities as UTI Trustee,
Transaction SUBI Trustee and Administrative Trustee), the Delaware Trustee and the Issuing Entity, or any affiliates of such parties,
that currently exists or that existed during the past two years and that is material to an investor's understanding of the Notes.

 Item 1122 of Regulation AB. Compliance
with Applicable Servicing Criteria.

 The Servicer and the
Indenture Trustee (collectively, the "Servicing Parties") have each been identified by the Depositor as parties participating
in the servicing function with respect to the asset pool held by the Issuing Entity. Each of the Servicing Parties has completed a report
on an assessment of compliance with the servicing criteria set forth in paragraph (d) of Item 1122 of Regulation AB applicable to
it (each, a "Servicing Assessment Report"), which Servicing Assessment Reports are attached as exhibits to this Form 10-K.
In addition, each of the Servicer and the Indenture Trustee has provided an attestation report (each, an "Attestation Report")
by a registered public accounting firm, which reports are also attached as exhibits to this Form 10-K. Neither the Indenture Trustee's
Servicing Assessment Report nor the Indenture Trustee's Attestation Report has identified any material instance of noncompliance
with the servicing criteria applicable to the Indenture Trustee.

 The Servicer complied in all material
respects with the servicing criteria applicable to it.

 Item 1123 of Regulation AB. Servicer
Compliance Statement.

 The Servicer has completed a statement
of compliance with its activities during the reporting period and of its performance under the applicable servicing agreement (a "Compliance
Statement"), signed by an authorized officer of the Servicer. The Compliance Statement is attached as Exhibit 35.1 to this
Form 10-K.

 EXHIBIT INDEX

 Exhibit 31.1

 Certification
 of Senior Officer in Charge of the Servicing Function of the Servicer Pursuant to Rule 15d-14(d).

 Exhibit 33.1

 Report
 on Assessment of Compliance with Applicable Servicing Criteria for Asset-Backed Securities of VW Credit, Inc.

 Exhibit 33.2

 Report
 on Assessment of Compliance with the Servicing Criteria for Asset-Backed Securities of Citibank, N.A.

 Exhibit 34.1

 Attestation
 Report on Assessment of Compliance with the Servicing Criteria for Asset-Backed Securities of Baker Tilly US, LLP, on behalf of VW
 Credit, Inc.

 Exhibit 34.2

 Attestation
 Report on Assessment of Compliance with the Servicing Criteria for Asset-Backed Securities of KPMG, on behalf of Citibank, N.A.

 Exhibit 35.1

 Annual
 Servicer Compliance Statement of the Servicer for the year ended December 31, 2024.

 SIGNATURES

 Pursuant to the requirements of Section 13
or 15(d) of the Securities Exchange Act of 1934, the Depositor has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.

 March 28, 2025

 VOLKSWAGEN
 AUTO LEASE TRUST 2024-A

 By: VW Credit, Inc., as Servicer

 By:

 /s/
Garett Miles

 Garett Miles

 Head of Securitization and Assistant Treasurer

 (senior officer in charge of the servicing function)


FORM 10-K

 UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 WASHINGTON,
D.C. 20549

 FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE

 SECURITIES EXCHANGE ACT OF 1934

 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
 ACT OF 1934

 For the fiscal year ended December 31, 2024

 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
 EXCHANGE ACT OF 1934

 For the transition period from
 to

 333-269194-03

 (Commission File Number of Issuing Entity)

 Volkswagen Auto
Loan Enhanced Trust 2024-1

 (Exact name of Issuing Entity as specified in its
charter)

 Central Index Key Number of Issuing Entity: 0002043149

 Volkswagen Auto
Lease/Loan Underwritten Funding, LLC

 (Exact name of Depositor as specified in its charter)

 Central Index Key Number of Depositor: 0001182534

 VW Credit, Inc.

 (Exact name of Sponsor as specified in its charter)

 Central Index Key Number of Securitizer: 0000833733

 State of Delaware

 93-6977339

 (State or other jurisdiction of

 (I.R.S. Employer

 incorporation or organization of
 Registrant)

 Identification No. of Registrant)

 1950 Opportunity Way, Suite 1500

 Reston, Virginia

 20190

 (Address of principal executive offices of Registrant)

 (Zip Code of Registrant)

 (703) 364-7000

 (Registrant's telephone number, including
area code)

 Securities registered pursuant to Section 12(b) of the Securities
Exchange Act:

 Title of each
 class

 Trading Symbol(s)

 Name of each
 exchange on which registered

 None

 N/A

 None

 Securities
registered pursuant to Section 12(g) of the Securities Exchange Act: None

by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act. Yes No

by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes
No

 Indicate by check mark whether the registrant has submitted electronically
every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during
the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 Yes
 No

 Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions
of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging
growth company" in Rule 12b-2 of the Exchange Act.

 Large accelerated filer:

 Accelerated filer:

 Non- accelerated
filer:

 Smaller reporting company:

 Emerging growth company:

 If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness
of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the
registered public accounting firm that prepared or issued its audit report. Not
Applicable

 If securities are registered pursuant to Section 12(b) of
the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an
error to previously issued financial statements.

 Indicate by check mark whether any of those error
corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's
executive officers during the relevant recovery period pursuant to §240.10D-1(b).

by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act).
 Yes No

 State the aggregate market value of the voting and non-voting common
equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked
price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter. None

 Documents incorporated by reference: None

 FORM 10-K

 PART 1

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J(1) TO FORM 10-K:

 (A)
 Item 1

 Business.

 (B)
 Item 1A

 Risk Factors and Item 1C, Cybersecurity.

 (C)
 Item 2

 Properties.

 (D)
 Item 3

 Legal Proceedings.

 Item 1B. Unresolved Staff Comments.

 Item 4. Mine Safety Disclosures.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J(1) TO FORM 10-K:

 (A)

 Item 5

 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

 (B)

 Item 6

 [Reserved]

 (C)

 Item 7

 Management's Discussion and Analysis of Financial Condition and Results of Operations.

 (D)

 Item 7A

 Quantitative and Qualitative Disclosures About Market Risk.

 (E)

 Item 8

 Financial Statements and Supplementary Data.

 (F)

 Item 9

 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.

 (G)

 Item 9A

 Controls and Procedures.

 Item 9B. Other Information.

 None.

 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent
Inspections.

 THE FOLLOWING ITEMS HAVE BEEN OMITTED IN ACCORDANCE WITH GENERAL
INSTRUCTION J(1) TO FORM 10-K:

 (A)
 Item 10

 Directors, Executive Officers and Corporate Governance.

 (B)
 Item 11

 Executive Compensation.

 (C)

 Item 12

 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

 (D)
 Item 13

 Certain Relationships and Related Transactions, and Director Independence.

 (E)
 Item 14

 Principal Accountant Fees and Services.

 Item 15. Exhibits and Financial Statement Schedules.

 (a)
 (1)

 Not applicable.

 (2)
 Not applicable.

 (3)
 The exhibits filed in response to Item 601 of Regulation S-K
are listed in the Exhibit Index.

 (b)
 The exhibits filed in response to Item 601 of Regulation S-K are listed in the Exhibit Index.

 (c)
 None.

 Item 16. Form 10-K Summary.

 SUBSTITUTE INFORMATION PROVIDED IN ACCORDANCE WITH GENERAL INSTRUCTION
J(2) TO FORM 10-K:

 Item 1112(b) of Regulation AB. Significant Obligors of Pool
Assets (Financial Information).

 Item 1114(b)(2) of Regulation AB. Credit Enhancement and Other
Support, Except for Certain Derivatives Instruments (Information Regarding Significant Enhancement Providers).

 Item 1115(b) of Regulation AB. Certain Derivatives Instruments
(Financial Information).

 Item 1117 of Regulation AB. Legal Proceedings.

 Except as described below, no legal proceedings
are pending against any of VW Credit, Inc. (in its capacity as the sponsor (the "Sponsor"), in its capacity as an originator
contemplated by Item 1110(b) of Regulation AB (the "Originator"), in its capacity as servicer (the "Servicer")
and in its capacity as administrator of Volkswagen Auto Loan Enhanced Trust 2024-1 (the "Issuing Entity")), Volkswagen Auto
Lease/Loan Underwritten Funding, LLC (the "Depositor"), U.S. Bank Trust Company, National Association (the "Indenture
Trustee"), Deutsche Bank Trust Company Delaware (the "Owner Trustee"), or the Issuing Entity or of which any property
of the foregoing is the subject that are or would be material to holders of the asset-backed notes (the "Notes") or the asset-backed
certificate (the "Certificate"). No such proceedings are known to be contemplated by governmental authorities.

 VW Credit and its affiliates are parties to, or
are periodically otherwise involved in, reviews, investigations, and proceedings (both formal and informal), and information gathering
requests by various federal, state and local government authorities.

 Owner Trustee Litigation

 Deutsche Bank Trust Company Delaware, as the Owner Trustee, has provided
the following information for inclusion in this report on Form 10-K:

 In 2014 and 2015, several investors sued several
trustees of residential mortgage-backed securities ("RMBS") trusts, including Deutsche Bank Trust Company Americas ("DBTCA"),
concerning the trustees' administration of RMBS trusts. These cases generally alleged that the RMBS trustees failed to perform purported
duties, as trustees for private-label RMBS trusts, to enforce breaches of representations and warranties as to mortgage loans held by
the trusts and to enforce breaches by servicers of their mortgage loan servicing obligations for the trusts. Investors have sued DBTCA
in six of these cases. DBTCA has settled two cases brought by funds managed by Blackrock Advisors, LLC, PIMCO-Advisors, L.P. and others;
and obtained summary judgment in one case, brought by certain special purpose entities including Phoenix Light SF Limited. In addition,
the two cases described below remain active.

 On November 30, 2017, DBTCA was added as a
defendant to a case brought by Commerzbank AG ("Commerzbank") in the U.S. District Court for the Southern District of New
York, in which Commerzbank previously alleged incorrectly that Deutsche Bank National Trust Company ("DBNTC") served as trustee
for all 50 of the trusts at issue. On November 30, 2017, Commerzbank filed a second amended complaint that names DBTCA as a defendant
in addition to DBNTC. DBTCA serves as trustee for 1 of the 50 trusts at issue. DBNTC serves as trustee for the other 49 trusts at issue.
Commerzbank's second amended complaint brings claims for violation of the U.S. Trust Indenture Act of 1939 ("TIA");
breach of contract; breach of fiduciary duty; negligence; violation of the New York Streit Act ("Streit Act"); and breach
of the covenant of good faith. However, in the second amended complaint, Commerzbank acknowledges that, before DBTCA was added to the
case, the court dismissed Commerzbank's TIA claims for the trusts governed by pooling and servicing agreements, as well as its Streit
Act claims and claims for breach of the covenant of good faith, and Commerzbank only includes these claims to preserve any rights on appeal.
The second amended complaint alleges that DBNTC and DBTCA caused Commerzbank to suffer "hundreds of millions of dollars in losses,"
but the complaint does not include a demand for money damages in a sum certain. On January 29, 2018, DBNTC and DBTCA filed an answer
to the second amended complaint. On December 7, 2018, DBNTC and DBTCA filed a motion for summary judgment. Also on December 7,
2018, Commerzbank, jointly with the Phoenix Light plaintiffs, filed a motion for partial summary judgment. On February 8,
2022, the court issued an order in which it granted in part DBNTC and DBTCA's motion for summary judgment and denied plaintiffs'
motion for partial summary judgment. As a result of that order, many of plaintiffs' claims and theories were dismissed with prejudice.
On September 26, 2024, DBNTC and DBTCA filed a motion for summary judgment, which has been fully briefed.

 On December 30, 2015, IKB International,
S.A. in Liquidation and IKB Deutsche Industriebank A.G. (collectively, "IKB"), as an investor in 37 RMBS trusts, filed a summons
with notice in the Supreme Court of the State of New York, New York County, against DBNTC and DBTCA as trustees of the trusts. On May 27,
2016, IKB served its complaint asserting claims for breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts
of interest, violation of the Streit Act, violation of the TIA, violation of Regulation AB, and violation of Section 9 of the Uniform
Commercial Code. IKB alleges that DBNTC and DBTCA are liable for over U.S. $268 million in damages. On October 5, 2016, DBNTC and
DBTCA, together with several other trustees defending lawsuits by IKB, filed a joint motion to dismiss. On January 6, 2017, IKB
filed a notice of discontinuance, voluntarily dismissing with prejudice all claims as to three trusts. On June 20, 2017, the parties
filed a stipulation, voluntarily dismissing with prejudice all claims as to four additional trusts. On January 27, 2021, the court
granted in part and denied in part DBNTC and DBTCA's motion to dismiss. The court granted the motion to dismiss with respect to
IKB's claims for violations of the Streit Act, Regulation AB, and Section 9 of the Uniform Commercial Code, as well as certain
aspects of IKB's claims for breach of contract, breach of fiduciary duty, and violation of the TIA. The court denied the remainder
of the motion to dismiss. IKB's remaining claims for breach of contract, breach of fiduciary duty, breach of duty to avoid conflicts
of interest, and violation of the TIA will proceed. On May 10, 2021, DBNTC and DBTCA filed a notice of appeal with the New York Supreme
Court Appellate Division, First Department, regarding certain aspects of the court's order on the motion to dismiss. On May 20,
2021, IKB filed a notice of cross appeal with respect to other aspects of that order. On August 30, 2022, the New York Supreme
Court, Appellate Division, First Department affirmed in part and reversed in part the court's order on the motion to dismiss. After
DBNTC and DBTCA appealed the First Department's decision, on June 15, 2023, the New York Court of Appeals reversed the First
Department's decision in part, dismissing certain additional contract claims, as well as IKB's claims for breach of fiduciary
duty and breach of duty to avoid conflicts of interest. On June 2, 2021, IKB filed a motion for re-argument regarding certain
aspects of the court's order on the motion to dismiss, which the court denied on August 3, 2021. On May 13, 2021, DBNTC
and DBTCA filed an answer to the complaint. On October 28, 2021, the parties filed a stipulation, voluntarily dismissing with prejudice
all claims as to seven additional trusts. On December 29, 2021, the parties filed a stipulation, voluntarily dismissing with prejudice
all claims as to one additional trust. On April 22, 2022, the parties filed a stipulation, voluntarily dismissing with prejudice
all claims as to 17 certificates at issue, including all claims as to 5 trusts. On February 28, 2023, the parties filed a stipulation,
voluntarily dismissing with prejudice all claims as to two trusts, leaving 15 trusts at issue. On November 21, 2023, the parties
filed a stipulation, voluntarily dismissing with prejudice all claims as to three trusts, leaving 12 trusts at issue. On November 14,
2024, DBNTC and DBTCA filed a motion for summary judgment. Also on November 14, 2024, IKB filed a motion for partial summary
judgment. Those motions are being briefed.

 It is DBTCA's belief that it has no pending legal proceedings
(including, based on DBTCA's current evaluation, the litigation disclosed in the foregoing paragraphs) that would materially affect
its ability to perform its duties under the Amended and Restated Trust Agreement for this transaction.

 Indenture Trustee Litigation

 U.S. Bank Trust Company, National Association, as the Indenture Trustee
has provided the following information for inclusion in this report on Form 10-K:

 U.S. Bank N.A. and other large financial institutions have been sued
in their capacity as trustee or successor trustee for certain residential mortgage-backed securities ("RMBS") trusts. The
complaints, primarily filed by investors or investor groups against U.S. Bank N.A. and similar institutions, allege the trustees caused
losses to investors as a result of alleged failures by the sponsors, mortgage loan sellers and servicers to comply with the governing
agreements for these RMBS trusts. Plaintiffs generally assert causes of action based upon the trustees' purported failures to enforce
repurchase obligations of mortgage loan sellers for alleged breaches of representations and warranties, notify securityholders of purported
events of default allegedly caused by breaches of servicing standards by mortgage loan servicers and abide by a heightened standard of
care following alleged events of default.

 U.S. Bank N.A. denies liability and believes that
it has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of losses to investors, that
it has meritorious defenses, and it has contested and intends to continue contesting the plaintiffs' claims vigorously. However,
U.S. Bank N.A. cannot assure you as to the outcome of any of the litigation, or the possible impact of these litigations on the trustee
or the RMBS trusts.

 On March 9, 2018, a law firm purporting to represent
fifteen Delaware statutory trusts (the "DSTs") that issued securities backed by student loans (the "Student Loans")
filed a lawsuit in the Delaware Court of Chancery against U.S. Bank N.A. in its capacities as indenture trustee and successor special
servicer, and three other institutions in their respective transaction capacities, with respect to the DSTs and the Student Loans. This
lawsuit is captioned The National Collegiate Student Loan Master Trust I, et al. v. U.S. Bank National Association, et al., C.A. No. 2018-0167-JRS
(Del. Ch.) (the "NCMSLT Action"). The complaint, as amended on June 15, 2018, alleged that the DSTs have been harmed as a
result of purported misconduct or omissions by the defendants concerning administration of the trusts and special servicing of the Student
Loans. Since the filing of the NCMSLT Action, certain Student Loan borrowers have made assertions against U.S. Bank N.A. concerning special
servicing that appear to be based on certain allegations made on behalf of the DSTs in the NCMSLT Action.

 U.S. Bank N.A. has filed a motion seeking dismissal
of the operative complaint in its entirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or, in the alternative,
a stay of the case while other prior filed disputes involving the DSTs and the Student Loans are litigated. On November 7, 2018, the Court
ruled that the case should be stayed in its entirety pending resolution of the first-filed cases. On January 21, 2020, the Court entered
an order consolidating for pretrial purposes the NCMSLT Action and three other lawsuits pending in the Delaware Court of Chancery concerning
the DSTs and the Student Loans, which remains pending.

 U.S. Bank N.A. denies liability in the NCMSLT
Action and believes it has performed its obligations as indenture trustee and special servicer in good faith and in compliance in all
material respects with the terms of the agreements governing the DSTs and that it has meritorious defenses. It has contested and intends
to continue contesting the plaintiffs' claims vigorously.

 Item 1119 of Regulation AB. Affiliations and Certain Relationships
and Related Transactions.

 Information required by Item 1119 of Regulation AB has been omitted
from this report on Form 10-K in reliance on the Instruction to Item 1119.

 Item 1122 of Regulation AB. Compliance with Applicable Servicing
Criteria.

 The Servicer and the Indenture Trustee (collectively, the "Servicing
Parties") have each been identified by the Depositor as parties participating in the servicing function with respect to the asset
pool held by the Issuing Entity. Each of the Servicing Parties has completed a report on an assessment of compliance with the servicing
criteria set forth in paragraph (d) of Item 1122 of Regulation AB applicable to it (each, a "Servicing Assessment Report"),
which Servicing Assessment Reports are attached as exhibits to this Form 10-K. In addition, each of the Servicer and the Indenture
Trustee has provided an attestation report (each, an "Attestation Report") by a registered public accounting firm, which reports
are also attached as exhibits to this Form 10-K. Neither the Indenture Trustee's Servicing Assessment Report nor the Indenture
Trustee's Attestation Report has identified any material instance of noncompliance with the servicing criteria applicable to the
Indenture Trustee.

 The Servicer complied in all material respects with the servicing criteria
applicable to it.

 Item 1123 of Regulation AB. Servicer Compliance Statement.

 The Servicer has completed a statement of compliance with its activities
during the reporting period and of its performance under the applicable servicing agreement (a "Compliance Statement"), signed
by an authorized officer of the Servicer. The Compliance Statement is attached as Exhibit 35.1 to this Form 10-K.

 EXHIBIT INDEX

 Exhibit 31.1

 Certification of Senior Officer in Charge of the Servicing Function of the Servicer Pursuant to Rule 15d-14(d).

 Exhibit 33.1

 Report on Assessment of Compliance with Applicable Servicing Criteria of VW Credit, Inc.

 Exhibit 33.2

 Report on Assessment of Compliance with the Servicing Criteria of U.S. Bank Trust Company, National Association

 Exhibit 34.1

 Attestation Report on Assessment of Compliance with the Servicing Criteria of Baker Tilly US, LLP, on behalf of VW Credit, Inc.

 Exhibit 34.2

 Attestation Report on Assessment of Compliance with the Servicing Criteria of Ernst & Young LLP, on behalf of U.S. Bank Trust Company, National Association

 Exhibit 35.1

 Annual Servicer Compliance Statement of the Servicer for the year ended December 31, 2024.

 SIGNATURES

 Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Depositor has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

 March 28, 2025

 VOLKSWAGEN
 AUTO LOAN ENHANCED TRUST 2024-1

 By: VW Credit, Inc., as Servicer

 By:

 /s/ Garett Miles

 Garett Miles

Head of Securitization and Assistant Treasurer

 (senior officer in charge of the servicing function)