Fleet News

Another name change for GE

Fleet managers who are customers of GE Commercial Finance Fleet Services will soon be looking at a new letterhead on their invoices.

The American technology, media and financial conglomerate is changing the name of its leasing company to GE Capital Solutions Fleet Finance.

The renaming is a result of an internal re-shuffling of GE’s assets. The GE Commercial Finance division has been combined with the Equipment Financing and Commercial Distribution Finance divisions to form one company.

This will be known as GE Capital Solutions.

In the UK, GE Fleet Services operates a fleet of 68,000 vehicles. Last year the company was ranked number seven in the FN50 leasing league table.

No-one from GE Fleet Services was available to comment on the name change.

However, a spokesman confirmed that services would remain as before – only the branding would alter.

A letter to all GE fleet managers is being sent out this week notifying them about the change. The completion date for the rebranding exercise is the beginning of November.

GE literature explained: “Expanding our Fleet Services portfolio to more than £10 billion of assets and more than 3,500 employees in 15 countries across Europe, GE Capital Solutions now offers customers a range of financial solutions that enhance cash flow, reduce risk of equipment ownership and improve balance sheet management.”

While fleet managers may well be grateful for the improved financial solutions on offer, they might also be left scratching their heads at yet another GE name change.

The name game

  • 1997: GE Capital Fleet Services has a fleet of 85,116, according to the FN50.
  • 2004: Name changed to GE Commercial Finance Fleet Services with a fleet of 54,000 vehicles following the amalgamation of Avis Fleet Services, Cochranes Fleet Services and Leasecontracts brands. For convenience, often shortened to GE Fleet Services.
  • 2007: Name changed again to GE Capital Solutions Fleet Services with a fleet of 68,000 vehicles, including the purchase of Custom Fleet.
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