Arval has reported its business results for 2023, revealing strong growth in its global leased fleet and battery electric vehicle (BEV) take-up.

The Arval fleet now comprises 1,701,540 leased vehicles worldwide, up 6.9% compared with 2022

The Arval fleet now comprises 1,701,540 leased vehicles worldwide, up 6.9% compared with 2022. That’s well above the market average, according to the leasing and mobility solutions specialist.

Significant progress was made with regard to fleet electrification, mobility and connected vehicles.

The Arval fleet now includes 166,363 battery electric vehicles, 85% up on 2022 and marking a record for its fleet electrification work. In the last quarter of 2023, BEVs accounted for 22% of new vehicle orders.

The company has a goal of 350,000 battery electric vehicles and an overall target of 700,000 electrified vehicles leased by 2025, contributing to the objective of reducing its fleet’s CO2 emissions by 35% compared with 2020.

Its EV solutions include the newly launched Arval Charging Services business, which allows a vehicle to be leased with a charging station and is available to both businesses and private customers. Arval also has an international agreement with ChargePoint that allows Arval customers to have charging points at work and at home, with an automatic reimbursement system for drivers and access to a network of more than 500,000 charging points in Europe.

The figures – published ahead of the firm’s annual financial statement – also reveal that international large corporates account for 440,000 leased vehicles worldwide; an increase of 8%. Local corporate segment clients account for 696,000 vehicles; up 3%.

The Retail segment reached 506,000 vehicles; up 12% compared with 2022. Meanwhile, Arval Flex, the company’s flexible subscription model (including medium-term rental for professionals) grew by 9%, reaching 105,000 active users and 60,121 vehicles.

The number of connected vehicles passed the 633,000 mark; an increase of 39% on the previous year.

Other highlights from 2023 include new international strategic partnerships, including a tripartite strategic cooperation agreement with long-standing partner Element and Sumitomo Mitsui Auto Service (SMAS). The agreement will enable the Alliance’s global clients to access vehicle leasing and fleet management services in Japan, Thailand, India, and Indonesia. Furthermore, the Alliance expanded to encompass Sixt Mega Rent in Serbia, Montenegro and Bosnia-Herzegovina.

It also continued the rollout of shared-mobility solutions for employees in 2023 with an additional six countries now on board. The Arval car sharing offering is now available in 15 countries, with a total of 125,000 bookings made on the platform in 2023 across all countries.

Arval also rolled out its used-car leasing offering, Arval Re-lease, in 21 countries in 2023;  five more than the previous year. The Arval Re-lease fleet grew by 139% year-on-year, showing strong demand for this new type of offering.

Arval added that that outlook for 2024, the final year of its Arval Beyond strategic plan, is positive.

Alain van Groenendael, chairman and CEO, said: “2023 was an exceptional year, as illustrated by the growth of our leased fleet, the progress we made in numerous areas and the development of our partnerships. We can all be very proud of our achievements.

“This bodes well for the opportunities and challenges that await us in 2024, which will be a year of transition for the market and for Arval. With the backing of BNP Paribas, our employees and our partners, we will continue to spur our growth by offering our customers ever stronger support as they carry out their energy transition.”

In 2024, Arval will build its new strategic plan. The plan will be announced in early 2025 and “will mark a turning point in the company’s history”.

Arval’s ambitions for 2024 include building on the positive momentum of recent years, for “the ultimate purpose of serving its customers and through the hard work of its highly motivated and committed employees”.

It will also continue work to accelerate the energy transition of fleets, expanding the selection of BEVs available, implementing partnerships for vehicle charging, providing expertise and advice to clients for the development of mobility policies that include battery electric vehicles, and complementary mobility solutions that emit less CO2.

Following on from its 2023 business results, Arval will publish its annual financial statement on 8 March 2024.