Brazil is the second fastest growing vehicle leasing market for Arval, according to financial data released by the company. Arval Brasil has experienced double-digit growth in its vehicle leasing portfolio, growing by 14% in 2016.

Arval is now present in 28 countries, following its acquisition of Relsa in Brazil and its alliance with the same group in Peru and Chile, according to the company. With around 30,000 vehicles leased in these three countries, Arval is consolidating its position in Latin America.

According to the parent company, BNP Paribas, organic growth of the Arval leased fleet worldwide was 8.4% for 2016, significantly outperforming the initial average growth target of 6%. Arval reported growth in its traditional markets of France, UK, Spain, and Italy, with an overall increase of 7% in the leased fleet, and by double-figure growth in several other countries such as Austria (15%), Brazil (14%), Hungary (10%), Luxembourg (13%), Poland (15%) and Czech Republic (19%).