The Car and Truck Fleet and Leasing Management Magazine

GE Fleet Services Nets Additional $6.9 Million on Fleet Resale

October 28, 2004

GE Commercial Finance, Fleet Services has netted an additional $6.9 million in resale for out-of-service fleet vehicles since the start of its partnership with Carfax on Oct. 13, 2003. As part of the partnership, wholesale buyers purchasing used vehicles from Fleet Services have had access to extensive documentation on these vehicles’ past service and maintenance through Carfax Vehicle History Reports. “We’ve been blown away by the impact the Carfax Reports are having on the resale value of our off fleet vehicles,” said Paul Seger, vice president of asset remarketing for GE Commercial Finance, Fleet Services. “We’ve sold 23,150 vehicles since we started working together and an initial study of our last year’s revenue shows that we made an average of $300 more on every vehicle sold with a Carfax Report. That’s almost $7 million of additional value we returned to our fleet management clients.” Client vehicles enrolled in Fleet Services’ Maintenance Management program are promoted at auction with a sticker on the windshield stating the vehicle’s service and maintenance records are available through Dealers with Carfax accounts have access to the complete service and repair information for any Fleet Services’ vehicle enrolled in its maintenance program.
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William Cieslak is responsible for PHH Arval’s remarketing operations for cars, light, and heavy trucks, as well as managing PHH’s network of new vehicle dealers.

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