With a total financed fleet of 608,000 vehicles at end-2009, representing 1% growth over 12 months, Arval retained its No. 2 European ranking in the corporate vehicle full service leasing. Its market share, measured on the basis of its financed fleet in its countries of operation, amounted to 8.6%* at end-2009.
Due to the crisis and the extension of current contracts, its new vehicle registrations dropped by 32%. Vehicle sales only grew by 2% compared to 2008, while the fleet management business fell from 86,000 to 73,500 units, a 15% decline against 2008. Its managed fleet stood at 681,500 vehicles at end-2009.
In the countries in which it set up operations more recently, Arval's financed fleet recorded highly satisfactory growth, most notably in Brazil (+130%), India (+200%) and Turkey (+150%).
Arval renews its commitments and expands its “expert advice” offering
In 2009, while the industry was severely shaken by the immediate effects of the crisis, Arval understood very early the new landscape under which it was operating.
In addition to extending contracts with the aim of smoothing out its customers' monthly rentals, Arval has particularly sought to derive more value from its used cars. In 2010, Arval plans to roll out “MotorTrade” – its new web-based, used-car sales tool – in its subsidiaries.
At a time when car fleet issues have grown increasingly complex, Arval's “expert advice” approach has become even more sensible. To further optimise the costs of owning a vehicle, the company is continuing to globalise the activity of “Arval Consulting”. 2009 also saw the launch of “Arval Analytics”, a new web-based, strategic reporting tool implemented progressively across all subsidiaries worldwide and designed for more efficient management and tracking of customer fleets' TCO**.
Another new service is the “Measure & Management” programme, which combines teaching eco-driving methods to drivers with monitoring car use with the help of an on-board telematics system. Launched in France, Poland and the Czech Republic, “Measure & Management” will be deployed in further Arval subsidiaries in 2010.
An additional innovation is the introduction of “Arval Mobile”, the very first iPhone application in the operational leasing market. Launched in France in April 2010, it will also be available for Smartphones.
According to Laurent Tréca, Chairman and CEO, “The benefits of full service leasing, which really cushions the crisis' impact due to the outsourcing of all risks, have remained intact or have even grown stronger. Thanks to Arval's expertise in optimising the costs of owning a car, we are able to reassure our customers and improve our business relations. We're seeing great customer loyalty and even new customers who have decided to use full service leasing instead of their usual way of financing and managing their fleet. We've completed some very successful business deals, such as the GDF Suez fleet, with a potential for 43,000 vehicles, not to mention the partnership agreements signed with RCI in the United Kingdom and Spain. However, even though we're resolutely optimistic, we know that the economic crisis is not over and that we must remain vigilant”.
* 2009 estimates
** TCO: Total Cost of Ownership
Created in 1989, Arval is a major player in full service, multibrand leasing and corporate fleet management, with 608,000 financed and 681,500 managed vehicles. Operating in 39 countries, with 22 subsidiaries and a network of partners in 17 countries, Arval is part of the BNP Paribas Retail Banking “Equipment Solutions” business line.