Leasys on track for one million vehicles by 2026

A year after Stellantis announced the creation of a new multi-brand leasing company, a 50/50 joint venture with Crédit Agricole Consumer Finance, Leasys has posted strong financial results.

The new vehicle leasing company, which was formed following the consolidation of Leasys and Free2move Lease, is targeting a fleet of one million vehicles by 2026.

With its managed fleet increasing to 870,000 vehicles – a 5% increase on April 2023 – Leasys says it is on target to reach that milestone.

Speaking to Fleet News in July 2023, international markets director at Leasys, Sebastiano Fedrigo described how the new business “combines the best of both worlds – the strengths of Free2Move and Leasys, which were quite complimentary”.

Total sales revenues grew to €1.9 billion, up 15% year-on-year, while gross operating margin reached €347 million, an 11% uplift, and operating income closed at €201m.

Leasys commercial intake grew by 45% to 177,000 orders, significantly improving its penetration on Stellantis LTR channel by nine percentage points, to 43%.

It also saw an improvement of its performance on multibrand, up 62%, low emission vehicle (40%) and light commercial vehicle (115%) contracts.

Rolando D’Arco, group CEO, says 2023 was a key year for Leasys. “We managed to deliver successful results in a context of historical change, related to the completion of the consolidation process between Leasys and Free2Move Lease,” he said.

“In a rather mutable macro-economic environment, these very positive results, represent a testament to our capabilities as well as a concrete step towards our future ambitions.

“I would like to thank our entire team for their resilience and continuous dedication: their commitment towards excellency is the key element fueling the engines of our growth.

“We have already approached 2024 in the same spirit, ready to make our mark and to continue our pursuit of value creation for all stakeholders.”

Leasys says its strategy has been strongly supported by significant investments in terms of digital transformation, with the aim of optimising systems and processes, as well as improving the customer journey.

Two key activities moving in this direction have been the launch of Leasys E-commerce platform, piloted in the Netherlands and soon to be deployed throughout the rest of its sales territory and the enhancements of My-Leasys, the digital gateway dedicated to fleet managers, with the aim of supporting them to achieve economies of scale and TCO optimisation.