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

Arval expanded its global leased fleet by 8.3%, including acquisitions, to more than 1.5 million vehicles, last year.

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

Globally, Arval added around 300,000 EVs 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 (437,445 excluding acquisitions) – up by 13% against 2021’s figures (9.7% growth excluding acquisitions). The mid-term rental fleet grew by 48% globally.

In the UK, the corporate financed fleet comprised of 74,684; the retail segment amounted to 108,173 vehicles; and the mid-term rental fleet grew by 58%.

Lakshmi Moorthy, 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.

“We’d like to thank all our customers and partners for their continued support through a challenging period for our industry.”

Alain van Groenendael, Arval chairman and CEO, says that despite a challenging 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,” he added.

“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.”