9.5% fleet growth for Arval
Leasing company Arval just presented its half year results for 2023. The Paris-based international vehicle leasing company saw the new order intake increase by 10.8% compared to the first half of 2022, reaching a funded fleet of 1,642,997 vehicles worldwide as at end of June 2023.
This is a 9.5% growth compared to the end of June 2022 (+6.7% at constant perimeter - Excluding in particular the impact of the acquisition of TBLG on 30 November 2022).
- The fleet financed in the Corporate segment totalled 1,093,998 vehicles at the end of June 2023 (a 6.9% increase compared to the end of June 20225).
- The Retail segment comprises 486,490 vehicles, reflecting a 12.8% increase compared to the end of June 2022
- The Arval Flex fleet (mid-term rental) experienced an increase of 38.3% compared to the end of June 2022 in the context of extended delivery times for new vehicles.
The Arval Group’s operating result, at €1 038.7 million (€774 million for the first half of 2022), increased thus by 34.2%. The net income amounts to €770.1 million (compared to €620.7 million in the first half of 2022), representing a 24.1% increase.
Arval Beyond strategy implementation
Arval says that it continues to deliver its strategic plan, Arval Beyond, by introducing mobility solutions, establishing strategic partnerships, and maintaining its commitment to CSR, particularly by assisting its clients in their energy transition journey.
- At the end of June 2023, Arval leased 366,000 electrified vehicles, marking a 23.5% increase compared to the end of 2022. Among these, 126,000 were battery electric vehicles, showing a 39.4% increase compared to the end of 2022.
- To support its fleet electrification plans Arval established a strategic partnership with ChargePoint, an international player in EV charging networks.
- Arval strengthened its international collaboration by announcing a tripartite strategic cooperation agreement with Element, its partner based in North America, and Sumitomo Mitsui Auto Service, based in Japan. This agreement enables global clients to access leasing and fleet management services in Japan, Thailand, India, and Indonesia. The Global Alliance expanded to include SIXT Mega Rent, a franchise operating in Serbia, Montenegro, and Bosnia-Herzegovina. Together, the partners of the Global Alliance now manage more than 4.4 million vehicles across 56 countries in five continents.
- Arval reached the milestone of 500,000 connected vehicles in its fleet, marking a 20% increase compared to the previous year. With Arval Connect the leasing company wants to connect 80% of Arval's fleet by 2025.
- Arval deepened its cooperation with MG Motor by launching a car subscription offering in Germany. This provides individuals with another alternative for car usage.
- To support the growth of the bike market, Arval has expanded its lease offering in France by partnering with Zenride. The goal of this partnership is to accelerate the adoption of bikes among Arval's clients.
Pictured: Alain van Groenendael, Chairman and CEO of Arval. If you would like to hear from him, join the 2023 Fleet Europe Days in Lisbon, where he will be part of the CEO Leasing Debate on 23 November. Discover the programme and details here.
Picture Copyright: Fleet Europe.