Avyens aims for 8-10% fleet expansion in 2024
07 Mar 2024
2 Min Read
CW Team
Ayvens, the entity resulting from the merger of ALD Automotive and LeasePlan, has solidified its position as the primary player in the Indian car leasing market. With a current market share exceeding 50 percent, the company expresses confidence in sustained growth and foresees an 8-10 percent expansion in its fleet size throughout the year.
The Indian car leasing market encompasses around 90,000 vehicles. Ayvens' projection aligns with the increasing trend of car leasing, driven by businesses seeking more adaptable and cost-effective mobility solutions. Ayvens specifically caters to the corporate segment, providing customised leasing packages to accommodate the diverse needs of various enterprises.
Country Managing Director in India and Sub-Regional Director Asia for Avyens, Suvajit Karmakar, commented on the matter, stating, This year, we anticipate a growth of approximately 8-10 percent in our fleet. By year-end, our expectation is to oversee a fleet of around 46,000 cars. While our primary objective is to sustain our existing market share, exceeding 50 percent, we do not currently harbour plans to aggressively expand it. The introduction of our new brand aligns with our broader strategy, emphasising not only the expansion of market share but also the ambition to become the leading sustainable mobility provider globally. Our targeted growth rate remains consistent at 8-9 percent annually, underscoring our dedication to evolving into the largest sustainable mobility player on a global scale.
Avyens presently possesses a fleet of 44,000 vehicles in India, with a presence in 280 locations across the country's major cities and towns, where corporate headquarters are concentrated. The company collaborates with original equipment manufacturers (OEMs) through white-label arrangements to further extend its services.
In addressing the unique challenges of sustainable mobility in the Indian context, Karmakar disclosed ongoing efforts to tailor solutions that align with local conditions. The company aims to unveil a sustainable mobility offering within the next two quarters, taking into account factors such as the predominant use of thermal electricity generation in India.
Karmakar emphasised, We are committed to shaping the future of mobility, not only in India but globally. Sustainability stands at the forefront of our initiatives, and we are actively working on projects to introduce eco-friendly leasing options to our customers.
Ayvens, the entity resulting from the merger of ALD Automotive and LeasePlan, has solidified its position as the primary player in the Indian car leasing market. With a current market share exceeding 50 percent, the company expresses confidence in sustained growth and foresees an 8-10 percent expansion in its fleet size throughout the year.
The Indian car leasing market encompasses around 90,000 vehicles. Ayvens' projection aligns with the increasing trend of car leasing, driven by businesses seeking more adaptable and cost-effective mobility solutions. Ayvens specifically caters to the corporate segment, providing customised leasing packages to accommodate the diverse needs of various enterprises.
Country Managing Director in India and Sub-Regional Director Asia for Avyens, Suvajit Karmakar, commented on the matter, stating, This year, we anticipate a growth of approximately 8-10 percent in our fleet. By year-end, our expectation is to oversee a fleet of around 46,000 cars. While our primary objective is to sustain our existing market share, exceeding 50 percent, we do not currently harbour plans to aggressively expand it. The introduction of our new brand aligns with our broader strategy, emphasising not only the expansion of market share but also the ambition to become the leading sustainable mobility provider globally. Our targeted growth rate remains consistent at 8-9 percent annually, underscoring our dedication to evolving into the largest sustainable mobility player on a global scale.
Avyens presently possesses a fleet of 44,000 vehicles in India, with a presence in 280 locations across the country's major cities and towns, where corporate headquarters are concentrated. The company collaborates with original equipment manufacturers (OEMs) through white-label arrangements to further extend its services.
In addressing the unique challenges of sustainable mobility in the Indian context, Karmakar disclosed ongoing efforts to tailor solutions that align with local conditions. The company aims to unveil a sustainable mobility offering within the next two quarters, taking into account factors such as the predominant use of thermal electricity generation in India.
Karmakar emphasised, We are committed to shaping the future of mobility, not only in India but globally. Sustainability stands at the forefront of our initiatives, and we are actively working on projects to introduce eco-friendly leasing options to our customers.
Next Story
Blum India brings Design Reverie to Hyderabad
Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..
Next Story
Hafele launches Platinum Studio in Nagpur
Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..
Next Story
Truflo by Hindware wins GPTW honour again
Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..