GE Capital Fleet Services announced it has identified $68 million of cost savings for customers in the third quarter of 2011. GE Capital works with customers to analyze their fleets to help them determine areas to reduce costs and maximize efficiency. In the first three quarters of 2011, GE Capital Fleet Services has identified more than $191 million in customer cost savings.
"As customers look for ways to manage costs while increasing productivity, our Strategic Consulting team helps them review how their fleets are managed to identify ways they can maximize their fleet investments," said Brad Hoffelt, senior vice president & general manager of products & services at GE Capital Fleet Services. "We help support our customers’ business goals by providing solutions and services that allow them to manage their fleets more efficiently both operationally and fiscally."
The largest areas of cost savings identified by GE Capital Fleet Services during the third quarter included:
- Optimal replacement strategies ($38 million): Determining the optimal time to cycle vehicles in a fleet, given applicable costs
- Negotiated maintenance savings ($15 million): Using technology and maintenance expertise to reduce maintenance spend
- Outsourced vehicle program versus company-owned or reimbursed vehicles ($8 million): Outsourcing fleet financing and management instead of owning a fleet of vehicles or reimbursing employees using their own vehicles
- Fuel cost savings ($4 million): Reduction in idling, speeding and after-hours use of fleet vehicles
"By evaluating all aspects of fleet operations from maintenance spend to telematics data, we are able to identify ways that our customers can optimize the way they manage their fleets," said Steve Jastrow, strategic consulting services manager at GE Capital Fleet Services. "With in-depth data, analysis and benchmarking, we help customers make informed decisions about streamlining fleet operations and increasing fleet productivity, which ultimately leads to cost savings."