GE Capital Fleet Services Identifies $460 Million in Customer Cost Savings in 2012
Replacement Analysis Cited as Key Driver of Fleet Cost Reduction
EDEN PRAIRIE, Minn.--(BUSINESS WIRE)-- GE Capital Fleet Services today announced $460 million in identified customer cost savings for the full year of 2012, with accelerated and optimal replacement analyses cited as the leading areas for savings.
By analyzing customers' fleets to maximize efficiency and reduce costs, GE Capital has identified a total of $1.4 billion in potential savings opportunities for customers in the past four years.
"Throughout the year, we conduct ongoing analyses on behalf of our customers to evaluate the management of their fleets," said Steve Jastrow, strategic consulting services manager at GE Capital Fleet Services. "In 2012, replacement analysis in particular was an area we identified as a significant opportunity for savings, due in part to the robust resale market."
The largest areas of cost savings identified by GE Capital Fleet Services during 2012 include:
Accelerated replacement analyses: Determining opportunitiesto accelerate the service life cycle of vehicles in order to decrease overall fleet depreciation
Optimal replacement analyses: Determining the optimal time to cycle vehicles in a fleet to drive reduced maintenance and fuel spend costs
Lease versus reimbursement: Identifying cost-cutting opportunities to convert companies' driver reimbursement programs to vehicle leasing programs
Strategic account planning: Experts provide the information, analysis, insights and actionable plans that customers need to set the stage for success
Lease versus purchase: Determining whether leasing or owning vehicles is the most cost efficient way to manage a specific company's fleet
"Our team strives to provide systematic solutions, such as vehicle optimization and sustainability, to our customers in order to preserve their bottom line," said Brad Hoffelt, senior vice president and general manager of products & services at GE Capital Fleet Services. "Our goal is to arm our customers with solutions that minimize costs while simultaneously maximizing fleet operations and productivity."
About GE Capital Fleet Services
GE Capital Fleet Services, based in Eden Prairie, Minn., is a global fleet management company with operations in the United States, Canada, Europe, Japan, Australia and New Zealand. Visit the website at gefleet.com or follow the company's eco news and updates via Twitter (@GEFleetSvcs).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYS: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
KEYWORDS: United States North America Minnesota
The article GE Capital Fleet Services Identifies $460 Million in Customer Cost Savings in 2012 originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.