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 opportunities to 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."