EDEN PRAIRIE, Minn., May 10, 2010 (BUSINESS WIRE) -- GE Capital Fleet Services today announced it identified $65 million in cost-savings for customers in the first quarter of 2010. Through its strategic consulting services, GE helps its customers cut costs and streamline fleet operations to maximize their return on fleet investments.
"In the current economic environment, having a fleet that is efficient both fiscally and operationally is important, and the GE Capital Fleet Services' strategic consulting team works with us to help reach that goal," said Jeffery Hurrell, fleet manager of Hewlett Packard. "The GE team analyzes our fleet data to identify key areas where we can improve fleet productivity for both the driver and the vehicle. In the last 12 months GE has helped us save millions of dollars." In descending order, the areas of highest cost savings identified during the quarter include: -- Total-cost-of-ownership analysis ($18 million): Using cost analysis to evaluate and select OEMs and vehicles.
-- Optimal replacement strategies ($12 million): Determining the optimal time to cycle vehicles in fleet given applicable costs.
-- Negotiated maintenance savings ($10 million): Using technology and maintenance expertise to reduce maintenance spend.
-- Lease options versus reimbursement programs ($9 million): Moving from mileage reimbursement plans to company car programs.
"We work with our clients to pinpoint the areas where they can achieve cost savings while managing their fleets more efficiently," said Mark Smith, strategic consulting services leader at GE Capital Fleet Services. "Through our integrated management solutions, we help improve the return on our customers' fleet assets, which allows them to stay ahead in a competitive environment and improve their bottom line." 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 Web site at www.gefleet.com or follow company news 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 (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit www.ge.com.
SOURCE: GE Capital Fleet Services CONTACT: GE Capital, Norwalk Ned Reynolds, 203-229-5717 firstname.lastname@example.org or GE Capital, Fleet Services, Eden Prairie Sherri Ruesink, 952-828-2875 Sherri.Ruesink@ge.com Copyright Business Wire 2010 -0- KEYWORD: United States
Minnesota INDUSTRY KEYWORD: Automotive
Finance SUBJECT CODE: Product/Service