Large fleets could be wasting millions of pounds after Hitachi Capital Vehicle Solutions helped eight companies save more than £29 million over the past year.

To encourage fleets to recognise where such savings can be made, the company has launched a free cost reduction calculator.

“By considering some basic areas, fleet managers could not only save costs in what continues to be a troublesome economy, but also ensure they are driving environmental efficiency and reducing driver risk across the fleet,” explained Simon Oliphant, chief executive, Hitachi Capital.

The initiative forms part of Hitachi Capital’s ‘Save’ initiative, which has been designed to help maximise a fleet’s full potential.

It is based on the four steps: survey current vehicle usage and leasing spend; audit operational procedures, identifying areas for improvement; validate savings plan and assign actions to achieve the cost saving; and evaluate results and report against agreed plan.

For all the latest advice and information on fleet management, have a read of our fleet operations section.