2010 was 'strong year of growth', says Arval
Last year, the group says that its performance significantly outstripped that of the market, with a 10% increase in the leased fleet to reach a total of 667,500 vehicles, compared to the market’s limited growth of 1%. Vehicle purchases rose with 180,600 units (up 27% from 2009) while the number of vehicles sold (149,800) increased by 7% compared to 2009.
Arval now holds a 10% market share in Europe, thereby consolidating its position as the second largest firm in the marketplace.
'After 2009 in which Arval enabled its customers to limit the impact of the financial crisis on their vehicle budget, 2010 was a year of upturn for us both in terms of activities and performance,' said Arval CEO Philippe Bismut.
The firm says that 2010 also saw the fulfilment of several partnership and external growth operations. This includes Arval Spain, which now represents the Renault-Nissan Alliance’s brands in the marketing of full-service leasing products, and has taken over La Caixa’s full-service vehicle leasing activities in the scope of a strategic partnership. The firm is now a leader in its market with a fleet of 80,000 vehicles on the 31 December 2010.
In Germany, Arval has obtained authorisation from the German Financial Supervisory Authority (BaFin) and the German Cartel Office for the takeover of Commerz Real Autoleasing GmbH, previously known as the leasing subsidiary of Commerz Real Mobilienleasing GmbH. The purchase will be effective from early May 2011, expanding Arval Germany’s vehicle portfolio by more than 50% to 36,000.
Arval’s recently established country subsidiaries have registered promising growth rates: 58% in Brazil, 60% in India, and 66% in Turkey.
The firm says that 2011 should see a continuation in its growth, particularly in the so-called emerging markets.
In Europe, Arval will participate in the Group initiative “One Bank for Corporates in Europe”, a banking offer launched by BNP Paribas at the beginning of the year to provide a harmonised service range through an integrated network of 150 business centres in 23 countries. The firm says that this will consolidate its presence with existing BNP Paribas Group customers throughout Europe.
Arval will also reinforce its VSE-SME approach in Europe through a multi-channel offer combining internet and telephone, as well as a variety of indirect channels, through partnerships with car manufacturers, dealers and retail bank networks such as those of the BNP Paribas Group.For more of the latest industry news, click here.