Arval, a big European player in long-term vehicle leasing and mobility solutions, reported exceptional performance for the year 2023, showcasing robust organic growth of 6.9% in its global fleet.
The company’s fleet now stands at 1,701,540 leased vehicles worldwide, surpassing the market average and reflecting the success of its strategic initiatives.
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Key highlights of Arval’s achievements in 2023 include a substantial increase in the fleet, reaching 1,701,540 vehicles, with a notable surge in battery electric vehicles (BEVs) – 166,363, marking an 85% increase from 2022.
In the final quarter of 2023, BEVs accounted for a significant 22% of new vehicle orders, underlining Arval’s commitment to fleet electrification.
The breakdown of Arval’s global fleet expansion includes an 8% increase in leased vehicles for international large corporates, totalling 440,000 vehicles. Local corporate segment clients saw a 3% rise, reaching 696,000 vehicles, while the Retail segment experienced a notable 12% growth, reaching 506,000 vehicles.
Arval Flex, the flexible subscription model encompassing medium-term rental for professionals, witnessed a substantial 9% growth, with 105,000 active users and 60,121 vehicles.
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By GlobalDataThe company’s dedication to connectivity was evident as the number of connected vehicles surpassed 633,000, reflecting a remarkable 39% increase from the previous year.
Arval, with a global workforce of 8,388 employees, serves over 300,000 customers across 29 countries.
Alain van Groenendael, Chairman and CEO of Arval, expressed pride in the company’s achievements, emphasizing the exceptional growth of the leased fleet and progress in various areas. He highlighted the positive outlook for 2024, the concluding year of the Arval Beyond strategic plan, describing it as a transitional period for both the market and Arval.
Groenendael stated, “With the backing of BNP Paribas, our employees, and our partners, we will continue to spur our growth by offering our customers ever stronger support as they carry out their energy transition.”
Arval’s success in 2023 reflects its strategic focus on sustainability, growth, and adaptability, positioning the company as a prominent player in the evolving automotive landscape. As it enters 2024, Arval remains poised for continued success and industry leadership.
