Arval, the expert in full service leasing (FSL) of corporate vehicles, wholly owned by BNP Paribas, announces the opening of a new subsidiary. Established in January 2012 in Denmark at Herlev (Copenhagen area), Arval now offers its dedicated solutions for employee mobility and the outsourcing of risks related to the management and possession of corporate vehicles in this country.
With 5.5 million inhabitants and nearly 2.6 million vehicles in 2012, Denmark is a growing market in full service leasing. More specifically, the number of corporate vehicles is as high as 170,000, and foresight analyses indicate that by 2014, 63% of all corporate vehicle registrations will concern cars under FSL contracts.
"By penetrating the Danish market, we will be able to offer our international customers the possibility of integrating their Danish fleet in their international fleet, which would be a major advantage for them, especially in terms of cost," says Regional Manager Frank Verver, who oversaw the opening of the subsidiary and its implementation plan. In addition, Arval can now offer its solutions to Danish companies as well as foreign companies established on Danish soil. “For these companies, Arval's strength not only lies in its fleet-management offers, but also its mobility solutions with high added value,” adds Arval CEO Philippe Bismut.
Arval Denmark, first step of a broader programme in Northern Europe
The opening of the Danish subsidiary is the first step in a broader programme to establish Arval in Northern Europe, which will consolidate and reinforce the company's overall presence in Europe. Arval already has subsidiaries in 18 European countries (Austria, Belgium, Czech Republic, France, Germany, Greece, Hungary, Italy, Luxembourg, Netherlands, Poland, Portugal, Romania, Slovakia, Spain, Switzerland, Turkey, and the UK). Arval, in the frame of the PHH Arval Global Alliance, has also signed partnerships in countries where it has no subsidiaries. “Europe is a key economic and geographic zone within which we want to offer all our European customers the same level of services, innovation and consulting, in whichever country they are.” Philippe Bismut explains.
FSL is a much sought-after solution for companies in all countries. Unlike the purchasing of a full vehicle fleet or other means of financing, FSL allows companies to plan their expenses in the most efficient way, without the risks incurred by reselling vehicles on the second-hand market.