ALD Automotive hits private lease target
ALD Automotive’s is pleased to announce that it has successfully achieved its 3-year target of 150,000 private lease contracts, with 153,000 vehicles under management at end of 2019. The ambitious objective was set in 2016 to bolster growth in the private lease segment and contribute to revenue diversification. Through a strong focus on establishing and growing the business segment through strategic partnerships, the private lease fleet grew 30-40%, on average, each year, over the 3-year period. ALD Automotive’s private lease fleet now represents 8.6% of the company’s total fleet.
The company’s full-service leasing model is well suited to managing the life-cycle of private lease contracts and the different flexible offerings available allow for à-la-carte services and contract modifications in terms of duration, mileage and other options, which are particularly adapted to retail consumers’ needs. A growing selection of second-hand vehicles is also expanding the offering and currently the vast majority of second lease contracts are with private individuals.
Private lease distribution channels are continually being developed and ALD Automotive now counts more than 160 partnership distribution agreements with banking networks, insurance companies, car manufacturers, energy providers, retail networks and mobility platforms. Additional channels include the company’s rapidly expanding Employee Car Scheme offering for the employees of corporate clients and a direct private lease offering in 23 markets.
The private lease segment is expected to remain a key driver of total fleet growth and is supported by ALD Automotive’s state-of-the-art online platform. This “end-to-end” retail digital solution helps facilitate the processing of scalable private lease contracts and enables consumers to lease a car entirely online, from car selection and credit assessment to e-signing the contract. Going forward, digital solutions will be critical for efficient management of this new segment.
“We now have an established partnering reputation in the mobility sector which makes us the go-to source for those looking to diversify” confirms Adrian Porter, Head of Strategic Partnerships at ALD. “Each month, new types of partnerships are adding to the offers we have on the market place and our fully digital solution will enable us to further expand the range of partners and clients we work with, as well as expand our direct distribution network. As a leading international mobility provider, our goal is simply to deliver best-in-class leasing services that allow consumers to enjoy the freedom of driving the car of their choice without the hassle of owning it.”
Press contact:
Stephanie Jonville - ALD Communication Department
+33 (0)6 46 14 81 90
stephanie.jonville@aldautomotive.com
Corentin Henry - Societe Generale
+33 (0)1 58 98 01 75
corentin.henry@socgen.com