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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.

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The Little-Known Origin of Total Fleet Management

“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 Hits Fleet Market, Again

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.

Operating Costs Remain Flat in Calendar-Year 2010

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.

PHH Arval Hosts Client Advisory Board Summit

SPARKS, MD - PHH Arval recently hosted a major summit of its Client Advisory Boards (CABs) in Sparks, Maryland. The CABs offer PHH clients an opportunity to share ideas, provide insight and feedback into the Company's initiatives, and influence key investment priorities.