GE Capital Fleet Services Identifies $347 Million in Cost Savings for Customers in 2011
EDEN PRAIRIE, MN - GE Capital Fleet Services identified customer cost savings for the full year of 2011. By analyzing and benchmarking fleet data, GE Capital helps customers determine areas to maximize cost savings and increase productivity. The total amount of identified savings for 2011 was $347 million, with optimal vehicle cycling for fleets yielding the highest cost savings of more than $124 million for the year.
“Our team helps support customer business objectives by evaluating the management of their fleets and providing them with strategies, such as vehicle selection and the use of a fuel program, to increase operational efficiency and provide a higher ROI on their fleet investment.”
“We conduct an in-depth analysis of our customers’ fleet operations to help them identify ways to streamline fleet operations while optimizing driver and vehicle productivity and managing costs,” said Brad Hoffelt, senior vice president & general manager of products and services at GE Capital Fleet Services. “Our team helps support customer business objectives by evaluating the management of their fleets and providing them with strategies, such as vehicle selection and the use of a fuel program, to increase operational efficiency and provide a higher ROI on their fleet investment.”
The largest areas of cost savings identified by GE Capital Fleet Services during 2011 include:
- Optimal vehicle replacement strategies ($124 million): Determining the optimal time to cycle vehicles in a fleet, given applicable costs
- Outsourced vehicle program versus company-owned or reimbursed vehicles ($77 million): Outsourcing fleet financing and management instead of owning a fleet of vehicles or reimbursing employees using their own vehicles
- Negotiated maintenance savings ($58 million): Using technology and maintenance expertise to reduce maintenance spend
Additional areas of identified cost savings for the year include telematics, OEM and vehicle selection, benchmarking and strategic planning and the utilization of the GE Capital Fleet Services fuel program.