10 Nov 21

LeasePlan reports record-breaking results

Image of cars parked on a lot, courtesy of Shutterstock

And announces next-gen sustainability strategy

Car-as-a-Service company LeasePlan has today reported what it describes as “record-breaking” financial results for Q3 2021.

The net result of €420 million is up 316% on last year, primarily as a result of the divestment of LeasePlan Australia and New Zealand and the carve-out of CarNext, which comprises €213m of that figure.

LeasePlan’s serviced fleet of 1.8 million vehicles reached a new record high, partially driven by the semi-conductor shortage, which has delayed new car deliveries.

Commenting on the third quarter results, Tex Gunning, CEO of LeasePlan, said: “Our record-breaking results show that LeasePlan has successfully emerged from the pandemic and is ready for a new era of accelerated growth, with private car subscriptions more popular than ever. Fleet growth has shown an upward trend across our key segments, while credit impairments were lower than expected – both sure signs that our high quality customer base is getting back to normal. Our order book remains at record high levels, and although the chip shortage is delaying delivery of some new cars, we are keeping customers moving by offering popular pre-configured vehicles, used car leasing and contract extensions.

To tie in with COP26 in Glasgow, UK, LeasePlan has also released news of its next generation sustainability strategy – ‘Driving to Zero’.

“This broadens our focus from EVs to the entire ESG agenda, and introduces new commitments around all the issues that matter to our stakeholders.” Gunning added.

Image courtesy of Shutterstock.

Authored by: Alison Pittaway