Fleet Advantage, a Florida-based innovator in truck fleet business analytics, equipment financing and lifecycle management, said its EXchangeIT program and strategic alliance with Maines Paper & Food Service has resulted in overwhelming success.
The two companies partnered in 2010 to study the feasibility of a paradigm shift from six to eight-year full-service truck leases to the EXchangeIT operating lease model using four-year cycles combined with contract maintenance.
The first one hundred new lease trucks were placed in service in the latter part of 2011 and predicted substantial reductions in fuel consumption and maintenance and repair costs. The program is now in its fourth year with 525 tractors under management.
The results show that Maines has substantially reduced its fleet operating costs, which has enabled it to maintain a competitive advantage with its customers.
“We in-serviced one hundred 2012 model tractors in Q4 of 2011 and are exchanging them even sooner than our preliminary models predicted,” said Peter Flynn, senior vice president of Fleet Advantage and portfolio manager for Maines. “In 2010 we promised Maines a guarantee of the lowest cost of ownership and we have steadily monitored vehicle performance data and expenses to deliver on that promise.”
Terry Walsh, chief operating office of Maines, said “We estimate the new models will increase fuel economy by close to 10 percent. He credits a portion of the increased fuel efficiency to driver acceptance and their in-house driver training program that maximizes mpg.
Fleet Advantage also designed and sponsored a driver training vehicle equipped with features to safely train up to four drivers simultaneously. Drivers are instructed on the importance and proper use of safety equipment options and how to drive in accordance with preselected engine settings established by Maines and Fleet Advantage to maximize fuel economy.
The 100 off-lease, low-mileage 2012 models surrendered under EXchangeIT will be less than 40 months old. These vehicles will be “downstreamed” to Fleet Advantage’s Certified Pre-Owned Lease Program through its remarketing division.
The tractors will be leased or sold into the secondary market with full history of per vehicle fuel economy and maintenance and will include two year extended warranties on major components.