Arval India to invest Rs.560 crore to triple fleet by 2013
The firm, a subsidiary of BNP Paribas, is planning to invest Rs.560 crore (93 million euros) according to a report in India's Economic Times. Managing director Liam Donnelly has been quoted as telling the Press Trust of India that the firm will purchase around 7,000 vehicles by 2013, each costing around Rs.8 lakh, to give it a better footprint in the Indian corporate operational leasing market.
The company opened in India in 2008 and currently has a 7% marketshare, which it is looking to increase to up to 12% by the end of 2013. Competitors include LeasePlan and ALD Automotive India.