Vehicle leasing firm Arval saw its financed fleet increase by 7.3% year-on-year during Q1 2017, parent company BNP Paribas has revealed.
The continued growth comes after Arval reached a milestone at the end of last year, when it revealed it had passed the one million vehicle threshold on its leased fleet, across the 28 countries where it operates.
Overall in its first quarter results, BNP Paribas reported €11.3bn in revenues for Q1 2017, a year-on-year increase of 4.2%. Operating income rose 5.1% year-on-year to €2.6bn.
Last month, Arval launched Total Fleet, a reporting platform hosted by an independent third party which will provide fleet managers working with several fleet management suppliers a consolidated view on their key performance indicators.
The initiative is designed to offer fleets with multi-supply schemes a single aggregated view of data.
The system will focus on four areas of fleet, including deliveries and returns, spending, vehicle useage and corporate social responsibility areas such as CO2 emissions.
The system meets all the necessary requirements from a competition law and data protection perspective.
It is hosted, maintained and managed by an independent IT service provider and upon a client’s request to provide data to the platform, the clients’ lessors can access Total Fleet directly to upload their fleet data.
The data and the reports are only accessible to the clients. Neither Arval, nor the other lessors, have access to the data or to the consolidated view.
Philippe Bismut, CEO of Arval, said: “Arval believes that, ultimately, clients would benefit from a single market solution and accordingly remains keen to open discussions with other lessors for positioning the platform as an industry shared solution”.
Total Fleet will be progressively deployed across the Arval countries throughout 2017 and be made available for both local and international clients.
It will also be made available to clients across the Element-Arval-Global Alliance, in particular to Element clients in the US, who have been keen to access this kind of service.