Car leasing player Avyens targets 8-10% fleet growth in 2024
By : Michael Gonsalves
Update: 2024-03-10 08:00 GMT
PUNE: Car leasing player Ayvens, the new business brand launched recently after ALD Automotive and LeasePlan merged, is eying an 8-10 per cent increase in its fleet size this year with an investment of Rs 1,800 crore.
ALD Automotive is listed on Euronext Paris and Societe Generale Group is Ayvens majority shareholder at 52 per cent.
“This year, our fleet will grow by approximately 8-10 per cent,” Suvajit Karmakar, Country Managing Director in India and Sub-Regional Director Asia for Avyens told FC.
“We are a profitable company and as a group,” he said without divulging the value.
He said Ayvens will invest Rs 1,800 crore this year in buying about 12,500 to 13,000 vehicles ranging from luxury to mass market models.
“This addition of vehicles will increase our fleet from the present 44,000 cars to 46,000 to 47,000 cars by December-end,” Karmakar said, adding that it had a market share of 50-53 per cent.
At present Ayvens is the market leader in India, followed by archrival Orix and others.
The Indian car leasing market comprises approximately 80,000 to 90,000 vehicles.
Ayvens caters to over 1,500 corporate customers across India, offering them tailored leasing packages to meet their needs. The brand has offices in seven cities and operates across 250 locations in the country.
ALD Automotive India started operations in India in 2005 and LeasePlan India in 1999.
Globally, Ayvens operates in 43 countries with over 3.4 million cars.
ALD Automotive is listed on Euronext Paris and Societe Generale Group is Ayvens majority shareholder at 52 per cent.
“This year, our fleet will grow by approximately 8-10 per cent,” Suvajit Karmakar, Country Managing Director in India and Sub-Regional Director Asia for Avyens told FC.
“We are a profitable company and as a group,” he said without divulging the value.
He said Ayvens will invest Rs 1,800 crore this year in buying about 12,500 to 13,000 vehicles ranging from luxury to mass market models.
“This addition of vehicles will increase our fleet from the present 44,000 cars to 46,000 to 47,000 cars by December-end,” Karmakar said, adding that it had a market share of 50-53 per cent.
At present Ayvens is the market leader in India, followed by archrival Orix and others.
The Indian car leasing market comprises approximately 80,000 to 90,000 vehicles.
Ayvens caters to over 1,500 corporate customers across India, offering them tailored leasing packages to meet their needs. The brand has offices in seven cities and operates across 250 locations in the country.
ALD Automotive India started operations in India in 2005 and LeasePlan India in 1999.
Globally, Ayvens operates in 43 countries with over 3.4 million cars.