Stellantis and Crédit Agricole Consumer Finance recently announced the creation of Leasys Nouvelle Formule, a new player in the long-term car rental market with 828,000 vehicles. While this puts Leasys behind industry stalwarts like Arval (BNP Paribas) with 1.6 million vehicles, and ALD Automotive (Société Générale), which acquired LeasePlan and now boasts a fleet of 3.5 million rentals, the company has ambitious plans to become the second-largest player in the market. The new player, with 13 automaker brands within Stellantis, doesn’t appear to worry French bank company subsidiaries, however. As Arval’s rental business highlights, « We have 70 auto brands in our portfolio, and providing a ‘multi-brand’ offer is a clear advantage for our customers. »
However, Leasys isn’t just aiming to catch up to the competition; the company aims to become a leader in the market by offering new and unique rental options that meet the evolving needs of businesses. As car rental becomes the preferred financing mode for 60% of companies, they demand greater flexibility. Leasys will offer its customers new rental variations, such as paying only for the usage of a vehicle. This new offering, called « Be Free », allows clients to return their rental vehicle after only one year without any penalties. Leasys Miles lets clients pay only for the miles they travel, and « As New » allows clients to lease a used vehicle.
This trend is not new; many car rental businesses have already explored this option. According to Gilles Bellemère, CEO of ALD Automotive France, « Long-term rentals of used vehicles are currently driving the market, particularly in recent months due to the lack of new vehicles available. The growth of this rental solution is currently stronger than that of our traditional activities and is also coming from companies that hesitate to choose new diesel models. Instead, their preference is for a second-hand model. »
Apart from offering second-hand rentals, ALD Automotive also provides medium-term rentals of one to twenty-four months. These rentals are ideal for special or seasonal projects, as well as those related to ongoing construction.
Finally, in the coming weeks, Société Générale’s subsidiary will also unveil its online subscription formula, developed in collaboration with an automaker, which will be offered to both individuals and businesses.
In conclusion, Leasys intends to become a major player in the car rental market by offering unique and innovative rental options that meet the evolving needs of businesses. Their competitors also have adapted to the changing market by exploring the potentials of used vehicles and medium-term rentals. As this sector continues to evolve, new and groundbreaking rental solutions are likely to emerge, providing greater flexibility and adaptability to the automotive industry.
