GE Capital Fleet Services announced it identified $420 million in potential cost savings for customers in 2014, with customers realizing $210 million in actual savings as a result.
By working with fleet customers and analyzing data via its Strategic Consulting Services group, GE Capital Fleet Services is able to highlight areas for savings and has identified $1.6 billion potential savings opportunities for customers since 2011.
In 2014, 50% of all identified cost savings were realized by customers, an increase of seven percentage points from 2013. The largest areas of cost savings identified by GE Capital Fleet Services during 2014 were:
In addition, GE Capital recently conducted a study of 409 middle-market businesses with fleet operations that uncovered trends in how fleets plan to increase productivity in 2015. Top areas of focus included:
“Some of the biggest areas where fleet managers are seeking productivity enhancements also can provide the opportunity for significant cost savings. This includes preventative maintenance, up-fitting, and vehicle replacement strategies,” said Steve Jastrow, strategic consulting services manager at GE Capital Fleet Services. “As fleets continue to tap these avenues to maximize efficiency, there is an opportunity to simultaneously minimize spend as well.”
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