In 2019, Arval Luxembourg, a leasing service fully owned by BNP Paribas, grew by 26% with more than 9,000 vehicles leased.
Arval, which employs over 7,000 people, provides full service vehicle leasing and mobility solutions in 29 countries. Last year, Arval's leased fleet grew by 9.1% overall, reaching 1,298,404 vehicles. The number of vehicles ordered increased by 8% year-on-year, totaling 380,982 vehicles. In addition, the number of end-of contract vehicles sold was up by 6% year-on-year, totaling 269,830.
Most of Arval's geographies posted double-digit fleet growth in 2019: up 20.8% in the Nordics; up 19.3% in Central Europe; up 16.2% in Benelux and Southern Europe. Arval's biggest countries in terms of fleet (France, UK, Spain and Italy) grew by 7.3%.
Last year also saw Arval grow across all its client segments, with +7% growth in the Corporate & Public segments and +25% growth for the Mid Term Rental fleet. In 2019, the Retail fleet also showed very strong growth (up 14% compared to 2018), within which the private lease fleet increased by 42% vs 2018, closing the year just below the 300,000 mark.
More specifically, the Arval Luxembourg fleet grew 26% in 2019, taking the number of leased vehicles to over 9,000. This performance, which was well above average for Luxembourg’s company car market, demonstrated the value of a strategy based on expert advice and high-quality everyday services.
The Arval Mid Term Rental (one- to 24-month lease) continued to gain traction on the Luxembourg market, with the number of leases signed rising by almost 41% in 2019. This solution was designed to meet the need for flexibility among Luxembourg companies as a result of spikes in activity, seasonal spikes and the various phases of the recruitment process.
At the same time, Arval Luxembourg continued to draw upon its partnership with BGL BNP Paribas to promote its Private Lease via the latter’s branch network. The Private Lease is a long-term vehicle lease solution aimed at private individuals living in Luxembourg. A number of new solutions were brought to market over the course of the year offering a range of models to meet the varying needs of these target private clients.
As part of its ongoing commitment to drive innovation on the Luxembourg market, Arval has developed the SMaRT approach: Sustainable Mobility and Responsibility Targets. This five-stage proposal, aligned with Arval’s “green mobility” goal, is used to help clients define and implement an energy transition strategy for their fleets. The SMaRT method was devised to meet clients’ ever-changing needs as they draw up energy transition strategies and to help fleet managers execute and monitor them.
Gerry Wagner, Managing Director of Arval Luxembourg, commented: “Arval Luxembourg owes its success to our determination to guarantee impeccable service quality to our clients on a daily basis. Systematic surveys of fleet managers and drivers enable us to quickly detect and, where necessary, resolve potential issues before they arise and guarantee a very high level of satisfaction. These efforts will continue in 2020 as we carry on relying on the expertise of our Luxembourg-based staff, further cross-selling with BGL BNP Paribas and innovative new solutions reflecting our commitment to sustainability".