Successful 2023 for Alphabet marked by steady growth in e-mobility

• Portfolio slight growth in 2023
• Strong increase in New Business
• 78% growth in Battery Electric Vehicles (BEV)
• High customer demand for e-mobility solutions 

MUNICH 26/03/2024 – In the face of 2023's challenging economic landscape, marked by sharp inflation and variable market conditions, Alphabet has steadily held its ground and slightly increased its vehicle portfolio to more than 720,000. The new business rose by a strong 16% to more than 203,000. This was well driven by BEVs, which saw an overall increase of 78% highlighting the strong customer demand for electric mobility. Extending the geographical footprint, Alphabet has grown beyond its European roots, bringing comprehensive mobility services to new markets, including Mexico in 2023 with one of their OneNet partners. 

Boost in EV adaption

The demand for alternative drive trains continued to grow in 2023: Partially or fully electric vehicles (xEV) of new business reached a notable 38% increase compared to 2022. xEVs now make up almost 30% of Alphabet's total portfolio, underlining the strategic shift towards electrifying its customers' fleets. “Our customers are increasingly requesting fully electric vehicles – and every fifth vehicle in new business last year was already a BEV,” says Markus Deusing. “Of course, this also means an increasing demand for comprehensive solutions, for example for charging vehicles at home or work. Our goal is to equip our customers with everything they need for their electric mobility to ensure a seamless and integrated experience.” 

Advancing sustainability and ESG goals in business

Overall, Alphabet's business development demonstrates a growing awareness of low-emission fleets. This shift is not just about meeting regulatory requirements; it's a core part of companies' strategies to align with their Environmental, Social, and Governance (ESG) goals. Deusing highlights: “At the heart of our commitment to sustainability is the expert Alphabet Fleet Emission Consulting as well as the Alphabet Carbon Manager. With those two initiatives, we are equipped to offer unique support in consulting, managing, reporting, and finally reducing fleet emissions, assisting our customers on their journey to net zero.” This is just one part of the comprehensive sustainability efforts that have been reinforced by the ISO 14001 certification and the EcoVadis Score received last year. 

2024: Momentum in electric fleet adoption and customer-centric innovations

The start to the new year was already promising: In the first two months, 42% of new business contracts were partially or fully electric vehicles. To date, this corresponds to close to 100,000 BEVs from the total portfolio. “We expect significant growth in new business in general and in electric vehicles in particular this year and will consistently support our customers in their transformation,” says Markus Deusing. 

The second major investment includes further digitalisation of processes and customer tools such as the all-new 360 Fleet Portal which is seamlessly in line with that vision and represents Alphabet's commitment to innovation and customer-focused service. Deusing explains: “With the 360 Fleet Portal, we recently introduced a one-stop mobility ecosystem for managing fleet operations that provides convenient access to all major Alphabet applications. We will continue to expand our consulting services and invest heavily in digitisation to create further added value for our customers. Our goal is to always offer our customers the best solution, in line with our motto: Your mobility. Made easy.” 

About Alphabet

Alphabet is a leading global provider of business mobility solutions. Founded in 1997 in the UK as a division of the BMW Group, Alphabet's expertise in car and commercial vehicle management helps companies to manage their corporate mobility in an effective and sustainable way. Future orientation and responsible action have always been the basis of Alphabet's economic success. With its portfolio of innovative, digital, and flexible mobility options, Alphabet is driving the sustainable change: With Alphabet Rent, Alphabet Mobility Budget, Alphabet App and its holistic approach with the comprehensive E-Mobility consulting for a tailored and individual electrification strategy as well as Emission consulting including the Alphabet Carbon Manager, Alphabet helps its customers to reduce their carbon footprint and to build a better future of mobility.

Today, Alphabet manages a portfolio of more than 720,000 leased cars and light commercial vehicles of all makes in 36 countries and has its headquarters in Munich, Germany. As a company of the BMW Group, Alphabet meets the same high quality and process standards as the parent company. For more information, please visit alphabet.com.