GE Capital Fleet Services today announced the results of its 19th
annual fleet passenger car maintenance study, which found that overall
fleet car maintenance costs decreased by four percent in 2013 as
compared to 2012. Maintenance costs include unscheduled repair services,
preventative maintenance, tires and replacement rentals.
The study analyzed actual maintenance expenses incurred by nearly 37,000
passenger cars from January 1 to December 31, 2013. Research found
monthly preventive maintenance expenses decreased 14 percent in 2013 and
average vehicle maintenance costs decreased from $50.47 to $48.36 per
vehicle per month. Key factors referenced in the study that influenced
the downward trend include:
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Increased oil service intervals – Despite the fact that costs
for oil services increased by three dollars from the previous year
($39 to $42), the interval for oil changes increased from 3.6 months
to 4.3 months and from 7,515 miles to 8,817 miles. This can be
attributed to improvements in engine design, onboard vehicle
technology and oil quality.
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Proper vehicle cycling – Although costs for replacement tires
increased by 10 percent in 2013 as compared to 2012, fewer tires were
purchased due to proper vehicle cycling. This resulted in a three
percent decrease in overall tire cost per vehicle. Additionally,
new tire technology has helped to extend tire tread life.
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Improvement in overall vehicle quality – Overall vehicle
quality continued to improve across the industry, resulting in longer
lasting parts and less frequent maintenance requirements.
“Vehicle quality improvements will continue to present opportunities for
fleet maintenance savings in 2014 and beyond,” said Eric Strom,
maintenance and safety product manager for GE Capital Fleet Services.
“However, labor rates, rental costs and the price of replacement parts
are expected to increase in the year ahead. As cost savings remains a
top priority for fleet managers, our team of experts aims to provide
customers with a thorough list of options for finding and achieving
savings within their fleet.”
About GE Capital Fleet Services
GE Capital Fleet Services, based in Eden Prairie, Minn., is a global
fleet management company. With strategic consulting, deep analytical
insights and experience in every industry, we’re uniquely positioned to
help you continuously drive results – from the road all the way to the
board room. In 2013, our fleet customers realized $209
million in savings through opportunities identified by our fleet
team. Visit the website at www.gefleet.com
or follow the company’s eco news and updates 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) works on
things that matter. The best people and the best technologies taking on
the toughest challenges. Finding solutions in energy, health and home,
transportation and finance. Building, powering, moving and curing the
world. Not just imagining. Doing. GE works. For more information, visit
the company's website at www.ge.com.
Copyright Business Wire 2014