In the context of its modernization and reform policy, the French Ministry for Defence has today selected GE Fleet Services for the fleet leasing and management of its 20,120 vehicles – representing Europe’s largest ever fleet deal.
GE Fleet Services provides specialist, long-term fleet leasing and management services. The company manages 1.25 million vehicles worldwide, of which 250,000 are in Europe and 80,000 in France.
This deal represents €360 million over 6 years in long-term finance leasing. The vehicles will be funded through a finance-lease contract by sister company GE Capital Solutions, Equipment Finance.
The Ministry’s 20,120-vehicle fleet will be renewed over 14 months. GE has chosen the French car manufacturer PSA Peugeot Citroën for 10,638 private cars and 9,482 commercial vehicles. Delivery is planned for between May 2007 and June 2008 across 280 defence sites in France.
This car fleet renewal should enable the Ministry to cut its global fleet costs by around 25%(***), by saving €3million a year in oil(***) and cutting annual carbon dioxide (CO2) emissions by 20%(***).
GE France is a group of services and industries whose activities range from aeroplane engines to energy production, including water treatment, security technologies, medical imaging, private and corporate financial services, television programs. GE has offices in over 100 countries and employs over 300,000 people worldwide.
(***) Ministry for Defence estimations
