GE says it identified $100M in 1Q cost savings for customers

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GE Capital Fleet Services today, May 18, announced it identified nearly $100 million in cost savings for customers in the first quarter of 2009. GE says that over the last five years that it has helped companies with commercial car and truck fleets maximize their return on their fleet investments by identifying nearly $2 billion in cost savings.

“We’re focused on partnering closely with customers to help them manage their fleets as efficiently and effectively as possible,” says Mark Smith, strategic consulting services leader at GE Capital Fleet Services, based in Eden Prairie, Minn. “Most companies today are already operating with lean budgets, so the key is to develop and implement more effective fleet strategies that allow companies to increase compliance, manage spend and drive productivity.”

According to GE, some of the areas where the highest levels of savings were identified in the first quarter include:

  • Strategic fleet plan development: Implementing plans that take into account each aspect of the fleet and provide data on an individual and aggregate basis for high-level analysis;
  • Vehicle model-year planning: Optimizing OEM and vehicle selection process in combination with total-cost-of-ownership analysis;
  • Technology optimization: Deriving full benefit of technology solutions, such as telematics, that deliver near real-time access to fleet data and analysis, including vehicle asset performance metrics, trend charts and customizable mapping;
  • Vehicle-replacement analysis: Determining optimal time to keep vehicles in fleet given applicable costs; and
  • Lease options versus reimbursement programs: Moving from mileage reimbursement plans to company car programs.
  • “Business leaders are increasingly looking to GE as their strategic partner responsible for supporting critical business initiatives,” says Clarence Nunn, president of GE Capital Fleet Services. “From increasing productivity and optimizing their fleet operations to driving green initiatives, we specialize in providing information, analysis and fleet management services to help our customers achieve their business objectives.”