Arval’s worldwide leased fleet grew 8.4% last year, totalling 1,028,142 units at the end of the year.

Arval’s worldwide leased fleet grew 8.4% last year, outperforming expectations.

The rise significantly outperformed the initial average growth target of 6% and came after Arval broke through the 1 million vehicle threshold in November. 

In total, 326,150 vehicles were ordered by Arval in 2016 (24% more than in 2015), and the company sold 248,914 vehicles (up 27%).

Growth was sustained both by Arval’s historic markets of France, UK, Spain and Italy, with an overall increase of 7% in the leased fleet, and double-figure growth in several countries such as Austria (15%), Brazil (14%), Hungary (10%), Luxembourg (13%), Poland (15%) and Czech Republic (19%).

Arval said increased cooperation with the BNP Paribas Group retail banking networks, the Arval International Business Office which handles the largest international clients, and SME Solutions, which serves self-employed and small company customers, were prime drivers of growth in 2016.

During the year, Arval also delivered the Europe-wide integration programme of GE Fleet Services, which was acquired by Arval at the end of 2015.

“2016 was a tremendous year for Arval,” said Arval CEO Philippe Bismut. “The millionth vehicle marked a clear turning point in the history of our company. It symbolises the success of our strategy and the unfailing commitment shown by our people.”

For 2017, Arval said the target is to stay ahead of the market and demand.

“We will succeed by extracting maximum advantage from digital and communication technologies as the basis for seizing new opportunities, such as leasing for private individuals, car sharing and innovative fleet management solutions, linked to the evolution of our industry,” concluded Bismut.