Arval strikes leasing deal with online car platform YesAuto

Arval has signed a deal to provide leasing options for the new and used car platform, YesAuto, which launched in the UK last year.

YesAuto is the European arm of Autohome, an online car sales portal in China with an 80% market share and 750 million page views a day. The company also operates in Germany, with ambitious growth plans to other regions.

Since April 2020, YesAuto has grown quickly in the UK, attracting 1.1 million unique visitors and listing 135,000 vehicles from 1,800 retailers by September the same year.

The partnership with Arval will enable YesAuto to add more than 170,000 new car leasing deals to its existing platform.

Libo Bian, head of product development at YesAuto, said: “Having the right partners is absolutely crucial for us to continue providing a best-in-class user experience.

“Working with Arval UK means we are now able to give our users the flexibility and options that they need and deserve, instead of being limited to traditional buying options that are not always adapted to them.”

Paul Hyne, commercial director at Arval UK, said: “With its strong presence in China, we are pleased to establish a partnership with YesAuto as it enters the UK car leasing market for the first time.

“It enables us to take our exclusive lease deals direct to a wide range of consumers through its intelligent online platform and app, which during the global pandemic we’re facing is the new normal for leasing or buying a car today.”

The deal with YesAuto comes after Arval launched its own consumer-focused used car website in October.

AutoSelect includes a choice of vehicles to buy outright, finance and lease.