Arval global leased fleet grows 8.3%, with UK fleet up by 2.5%

Arval has expanded its global leased fleet by 8.3%, including acquisitions, totalling 1,592,024 vehicles. Globally Arval have added around 300,000 electrified vehicles to its fleet at the end of 2022, four times the amount compared to 2019.

The global corporate financed fleet had 1,082,503 vehicles in 2022, while the global retail segment amounted to 454,062 vehicles in 2022 (437,445 excluding acquisitions), highlighting a 13% growth vs. 2021 (9.7% growth excluding acquisitions). This growth shows the growing interest of SMEs and private individuals for leasing, despite the challenging context. The mid-term rental fleet grew by 48% globally.

“Despite a challenging 2022 environment, Arval successfully continued to support its client thanks to a resilient business model and its capacity to offer new innovative solutions. Backed by the strong strategic ambitions of the BNP Paribas Group in the field of mobility, Arval will pursue its growth trajectory in 2023, further advancing its Arval Beyond strategy. We will continue to strengthen our growth by innovating, by further supporting our customers in their energy transition and providing them with sustainable mobility offers across all our countries”, comments Alain van Groenendael, Arval Chairman and CEO.

In the UK during 2022, the country has accelerated its customers’ adoption of battery electric vehicles supported by the Government’s Benefit in Kind taxation rates and introduced new mobility solutions for international corporations such as electric cargo bikes.

Compared to 2021, Arval UK increased its total leased fleet by 2.5% to 187,208 vehicles in 2022, with almost 54,000 electrified vehicles added, of which almost 29,000 were battery electric.

The UK corporate financed fleet comprised of 74,684 vehicles and the primary segment for electric vehicle adoption with the provision of extensive consulting and infrastructure support to help companies adopt more sustainable fleet strategies

The retail segment amounted to 108,173 vehicles with Arval supporting its broker and dealer relationships to manage supply constraints and provide award winning services to our partners, in turn enabling them to meet the needs of our retail customers

The mid-term rental fleet grew by 58% helping to offer customers increased flexibility and an opportunity to try electric cars and vans as part of their own operations.

Lakshmi Moorthy (pictured above), Arval UK Managing Director, said: “Our UK customers are forging a path in the electrification of our global fleet, achieving their own sustainable mobility goals and adding almost 29,000 zero-emission electric vehicles to the country’s roads in a year.

“The future will see an increased drive to also help commercial vehicle customers to transition to the same zero-emission vehicles and a move to support all customers (and their employees) as the cost of living continues to rise, through tax efficient products like Ignition for salary sacrifice and used car leasing via Arval Re-Lease. Additionally, we will increase the range of products on offer, adding new mobility solutions and flexible subscriptions, while continuing to provide best in class services to fleets of all sizes, brokers, dealers and individual drivers.”