GE Capital Fleet Services today announced the results of its 17th annual fleet passenger car maintenance study, which found that overall fleet car maintenance costs continued a three-year trend of slight decreases. Maintenance costs continued to decline in 2011 as a result of increased vehicle replacement in 2010, which in-turn decreased the average cost of repairs per vehicle.
The study, based on a survey of actual maintenance expenses incurred by more than 13,300 passenger cars from January 1 to December 31, 2011, found that average car maintenance costs fell four percent, from $55.89 to $53.49 per vehicle per month. Key factors referenced in the study that influenced maintenance costs include:
- Stable preventive maintenance expense – Costs for oil changes increased six percent ($2) from the previous year, but a trend toward less frequent oil changes stabilized preventative maintenance costs
- Decreased average tire expense – Although the cost per tire increased five percent,replacementtire costs declined for the second straight year. This is due to the large amount of vehicle replacements that occurred in 2010, which reduced the need for additional new tires in 2011.
- Improvement in overall vehicle quality – Overall vehicle quality continued to improve across the industry, resulting in longer lasting parts and less frequent maintenance requirements
"We're dedicated to delivering fleet management solutions that allow fleet managers to maximize cost saving opportunities while simultaneously optimizing operations," said Eric Strom, maintenance and safety product manager for GE Capital Fleet Services. "This study provides us with the necessary data to keep our customers fully up-to-date on optimal vehicle replacement and predictive maintenance strategies."
About GE Capital, Fleet Services
GE Capital, Fleet Services, based in Eden Prairie, Minn., is a global fleet management company with operations in the United States, Canada, Europe, Japan, Australia and New Zealand. Visit the website at 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.
GE Capital, Americas
Ned Reynolds, 203-229-5717
GE Capital Fleet Services, Eden Prairie
Sherri Ruesink, 952-828-2875