GE Capital Fleet Services (GECFS) achieved $460 million in identified customer cost savings in 2012. Accelerated and optimal replacement analyses were cited as the leading areas for savings for the fleet management company. Over the past four year, that numbers has reached $1.4 billion in total potential savings opportunities for customers. This has been reached through GECFS’ analysis of customers’ fleet to maximize efficiency and reduce costs. “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,” said Steve Jastrow, strategic consulting services manager at GECFS.
The largest areas of cost savings identified by the company 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.
