As we all know, General Electric (GE) has exited the fleet management industry after a three-decade presence, which started in 1984 when GE Credit Corp. purchased Kerr Leasing, a small family-owned leasing company in Englewood, Colo. What is not well known is why GE entered the fleet management industry in the first place. Here is the prologue or “back story” that was the catalyst to GE’s entry into the fleet business.
“Total fleet management” is a generic, shorthand term used to refer to programs offered by FMCs that administer all aspects of a client company’s fleet operations. Have you ever wondered about the origin of this concept? You might be surprised to learn that IBM was one of the initial catalysts leading to the development of today’s total fleet management programs. This might surprise some in the fleet industry, because for the longest time, IBM has been the poster child of driver reimbursement.
Merger mania is hitting the fleet market once again. We’re hearing about potential OEM consolidations and we now have Element Financial Corp. expanding its foothold in the U.S., with the acquisition of GE Capital Fleet Services on the heels of its recent purchase of PHH.
The cargo management solutions provider partners with FMCs to bring enhanced value in product, process, and service to their mutual customers —the fleet manager and fleet driver.
Stable fuel prices were the primary reason fleet costs remained flat. Also, national accounts did not increase prices for oil changes and replacement tires. Maintenance costs were up for fleets that extended vehicle cycling.
SPARKS, MD - In its continuing effort to make it easier for fleet drivers to handle business related to their vehicles, PHH Arval has added new functionality to both PHH InterActive for Drivers, its secure Web site, and PHH Connect, its mobile application.
SPARKS, MD - PHH Arval announced the launch of PHH FleetSelect, the company's new vehicle ordering platform, in both the United States and Canada.
SPARKS, MD - PHH Arval announced it has acquired select assets of the Center for Transportation Safety, LLC, including the company's brand.
SPARKS, MD - PHH Arval invites managers of medium and heavy truck fleets to participate in the 2010 Truck Fleet Survey. Participants who take the survey will be entered to win a Netbook companion PC.
It will become more expensive to operate a fleet in the coming years. Vehicle acquisition costs will increase. Fuel prices, in all likelihood, will trend upward and maintenance costs will ratchet higher due to more companies adopting extended replacement schedules. In addition, vehicle-related taxes will increase. Let's examine the dynamics that will force fleet expenses to escalate.
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