Arval and CaixaBank aim: 150,000 new contracts by 2025
Arval and CaixaBank are boosting their alliance in Spain: in the first 10 years, it generated 100,000 contracts. By 2025, they want to put an additional 150,000 vehicles on the road. “This is an exemplary partnership, and an innovative one: apart from traditional leasing, we also aim to develop used-car leasing, medium- and short-term leasing, bicycle and scooter mobility, shared mobility and MaaS for large corporates and CaixaBank employees,” says Alain Van Groenendael, CEO of Arval.
While their original agreement from 2010 established CaixaBank and Arval as leaders in vehicle leasing in Spain, both companies are now setting their sights even higher. With the new agreement, which runs an additional five years, they want to establish a new mobility ecosystem, working with manufacturers, dealerships and end consumers.
They will do this by jointly developing four major projects:
- Configuring a new commercial organisation for the creation and marketing of new products, focused on specific customer needs. For private customers, this will include used-vehicle sales and digitalising the customer experience, for example. For companies, who will be managed via account teams, this will involve developing corporate carsharing, medium-term leases and other sustainable mobility alternatives.
- Enhancing the commercial strategy across digital channels to boost the sale of new products and solutions. A key method will be to offer exclusive benefits to cooperating OEMs, dealerships and end customers.
- Commercialising second-hand vehicles from Arval’s portfolio for CaixaBank customers in the form of loans or ‘second-renting’.
- A leasing offer to all dealerships in Spain, to make it easier to finance the acquisition of new vehicles, both by individuals and corporates.
“With this extended partnership, we want to become the mobility leader in Spain,” says Mr Van Groenendael. “We want to grow three times as fast as we have until now and add 30,000 vehicles for each of the next five years.”
To do this, the value proposal for current and potential customers will be extended to include specific products and services related to electric, shared, connected and self-driving mobility options.
The products and services are aimed at three customer groups: private consumers, SMEs and large corporates. They are managed via CaixaBank Payments & Consumer, a wholly-owned CaixaBank subsidiary that is the leading provider of consumer financing and payment methods in Spain.
CaixaBank has 15 million customers in Spain and Portugal. The renewed partnership with Arval will soon also extend its activities to Spain’s western neighbour.
The CaixaBank-Arval partnership is about more than market share, Mr Van Groenendael adds: “We want to contribute to the switch from fossil fuel to alternative motorisations. That’s why we prominently offer EVs, e-bikes and other mobility modes. Another focal point is digitalisation, with great emphasis on connected and shared vehicles.”
“Arval aims to enhance its business via partnerships with banks – from within the BNP Paribas Group or without, as is the case with CaixaBank – but also with energy providers, for example. This is part of our strategy called Arval Beyond, which we will present in October.”
Arval, which has been present in Spain since 1996, maintains separate operations in the country under its own brand name. With a portfolio upwards of 150,000 units, it is the country’s top leasing operator.