THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
Arval's global fleet of leased vehicles went over the one million mark at the end of 2016, and managed to surpass the company's initial target of 6% growth, achieving 8.4%.
In a wide-ranging interview, the leadership of Element Fleet Management provide an update on the integration of the fleet business of GE Capital and offer insight on current industry trends and their vision of the future of fleet.
As we all know, General Electric (GE) has exited the fleet management industry after a three-decade presence, which started in 1984 when GE Credit Corp. purchased Kerr Leasing, a small family-owned leasing company in Englewood, Colo. What is not well known is why GE entered the fleet management industry in the first place. Here is the prologue or “back story” that was the catalyst to GE’s entry into the fleet business.
Established in 2008 and totaling 72 inductees, the newest members to the Fleet Hall of Fame were honored at the 2015 Automotive Fleet & Leasing Association (AFLA) conference, Sept. 15 in Nashville.
Merger mania is hitting the fleet market once again. We’re hearing about potential OEM consolidations and we now have Element Financial Corp. expanding its foothold in the U.S., with the acquisition of GE Capital Fleet Services on the heels of its recent purchase of PHH.
Element Financial Corp. has reached a definitive agreement to buy GE Capital's fleet assets in the U.S., Mexico, Australia, and New Zealand. Separately, Arval will acquire the European portion of GE's fleet business.
BNP Paribas has announced that Arval has signed a memorandum of understanding with GE Capital to potentially acquire its European fleet management business.
Toronto-based Element Financial Corp. has entered an agreement with General Electric to acquire GE Capital's fleet business in the U.S., Mexico, Australia and New Zealand for $6.9 billion.
The cost of fuel remains a tough line item to budget for. With prices currently at their lowest in years, what can fleet managers expect in the future?
Although GE Capital Fleet Services has had strong annual revenue growth and a significant product development agenda, its upcoming sale is part of a larger strategic plan by its parent company to focus on its core industrial businesses.