Leasing company Arval published its Top Ten most-ordered company cars for 2025, and one thing stands out immediately: every single model on the list was fully electric, and none came from a Chinese brand.
In Belgium, this outcome is hardly accidental. From 2026 onwards, only zero-emission company cars will remain 100 percent tax-deductible, a fiscal deadline that has already pushed corporate buyers and leasing companies decisively towards battery-electric vehicles.
At the same time, that same Belgian tax framework accelerates electrification without automatically reshuffling the competitive order.
While it makes battery-electric vehicles fiscally unavoidable, it does not reduce barriers to new entrants in corporate fleets, where proven residual values, service coverage, and procurement familiarity still weigh more heavily than the drivetrain alone.
Top 10 (all BEV)
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Kia EV3
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BMW iX1
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Skoda Elroq
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Skoda Enyaq
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Mercedes-Benz EQB
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BMW i4
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Audi Q6 e-tron
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Mercedes CLA
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Volkswagen ID.7 Tourer
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Mercedes EQA
The list itself underlines how decisively fleet electrification has progressed. Compact and mid-size BEVs such as the Kia EV3, Skoda Elroq, BMW iX1 and Volvo EX40 now dominate corporate orders, replacing both combustion vehicles and earlier premium-focused EV choices.
Notably absent from the ranking is Tesla, which for years featured prominently on European fleet top-ten lists but has slipped out of Arval’s 2025 ranking, reflecting intensified competition and shifting fleet preferences.
The Tesla Model Y ranks just outside the top ten, at 12th, while the Model 3 drops to 17th. The most popular plug-in hybrid is the BMW X1, which ranks 44th overall in 2025.
For Arval, this reflects a structural shift rather than a temporary trend: roughly four out of five new fleet orders are now fully electric, far ahead of the European passenger-car market average.
Kia at the intersection
Kia’s prominence in the ranking is also no coincidence. In Belgium and the Netherlands, the brand has positioned itself at the exact intersection fleet buyers are seeking: competitively priced electric crossovers with generous range, clear specifications, and predictable running costs.
Models such as the EV3 combine a strong price-to-range ratio with a well-established dealer and service network, giving leasing companies and corporate customers confidence on residual values and after-sales support.
In markets with high EV adoption and stringent fiscal incentives, this combination has enabled Kia to outperform both premium rivals and newer entrants that still struggle to persuade risk-averse fleet managers.
No Chinese brands in the top ten?
At first glance, the absence of Chinese manufacturers may seem surprising. Brands such as BYD or MG have become increasingly visible on European roads and in monthly registration statistics, often driven by aggressive pricing and rapid model rollouts.
Yet Arval’s ranking highlights a persistent gap between the private car market and the corporate leasing world. Fleet buyers move differently.
They prioritise long-term total cost of ownership, predictable residual values, dense service networks, and procurement stability. Criteria that established European, Korean, and Japanese manufacturers still fulfil more convincingly at scale.
European data support this divergence. While battery-electric vehicles now account for roughly 16 percent of all new passenger-car registrations in the EU, corporate fleets are electrifying faster but also more selectively.
Studies show that company cars are disproportionately sourced from European-built vehicles, reflecting both political realities and operational risk management. For leasing companies, uncertainty around tariffs, resale values, or after-sales coverage can easily outweigh headline purchase-price advantages.
This cautious approach helps explain why Chinese brands, despite growing overall market share, remain largely absent from top fleet order lists.
Structural gap
The gap is not ideological; it is structural. Leasing contracts lock in risk for several years, and fleet managers tend to adopt new brands only after they have demonstrated reliability, remarketing performance, and service maturity across multiple markets.
That structure, however, is beginning to shift. More leasing companies are now entering into strategic partnerships directly with Chinese manufacturers, embedding these partnerships into established leasing frameworks rather than waiting for organic fleet uptake.
Belgium has nonetheless begun to see more concrete steps towards Chinese brands entering corporate mobility through leasing channels. A recent example is Ayvens, which has become the Belgian leasing partner for Omoda and Jaecoo, two marques belonging to Chery Group.
Earlier, brands such as BYD and MG also secured access to Belgian corporate customers via framework agreements with established leasing companies.
These partnerships allow Chinese OEMs to plug into existing leasing, service, and remarketing structures, lowering barriers to entry without immediately reshaping fleet rankings. While these deals will not immediately translate into top-ten rankings, they signal a gradual institutional acceptance rather than a volume breakthrough.
Ongoing merger talks
The timing of Arval’s ranking is particularly relevant given the company’s ongoing talks to acquire Athlon from Mercedes-Benz Group.
If completed, the transaction would create a leasing giant with approximately 2.3 million vehicles under management, thereby strengthening Arval’s position in key European fleet markets, including Germany, France, and the Netherlands.
The strategic rationale behind the transaction is scale: greater purchasing power, deeper electrification services, and more harmonised fleet offerings across borders.
In theory, that scale could make it easier for new entrants, including Chinese manufacturers, to access large fleet tenders. A combined Arval–Athlon organisation would have greater leverage in negotiating pricing, guarantees, and service frameworks with OEMs.
In practice, however, the merger is unlikely to produce an immediate shift in the top-ten rankings. Integrating portfolios, supplier agreements, and risk models takes time, and neither company has indicated that broadening brand diversity is a primary objective of the deal.
The extinction of ICE
Looking ahead to 2026, the most likely scenario is a gradual increase in Chinese brand visibility within corporate leasing portfolios, particularly outside the very top of the rankings.
Entry into Arval’s or Athlon’s pan-European top ten is possible, but far from guaranteed. Those lists remain the domain of models that combine competitive pricing with low risk, predictable depreciation, and mature support structures.
Arval’s 2025 top ten, therefore, tells a nuanced story. Europe’s fleets are electrifying faster than ever, and in markets like Belgium, the combustion-engine company car is already approaching ‘regulatory extinction’. Yet the transition is being shaped by conservatism as much as by innovation.
