The lease portfolio of Alphabet, BMW’s commercial fleet leasing subsidiary, grew 5.5% in 2017, reaching 680,000 vehicles.

The company also saw growth of 4% in order volume, to 240,000 contracts.

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Customers increased by 10%, to some 86,000 companies.

Electric and plug-in hybrid vehicles in Alphabet’s fleet grew 51% from 2016, with 11,000 new vehicles brought to the market by the company.

They were the first full-year results under chief financial officer Stefan Oswald, and since Alphabet announced a review of its broker relationship programme. The programme, called Alphabet Partners, had brought in 20,000 contracts to the company since its inception in 2014.

Norbert van den Eijnden, chief executive officer of Alphabet, said: “Companies today face more and more changes and challenges when it comes to travelling from A to B.

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