New company cars across Europe’s major markets reduced their CO2 emissions by 7.2% between 2008 and 2010, according to the Key Solutions CO2 Assessment published today by GE Capital.
Based on data from GE Capital’s 250,000 vehicle pan-European fleet, the report reveals that between 2008 and 2010 emissions fell by an average of 11gCO2/Km per car.
When extrapolated to represent all new company cars in the eleven markets assessed, the findings show that the industry’s output has been slashed by more than 1.28 million tonnes of CO2 over the three-year period, which is equivalent to the energy used by 354,000 3-bed apartments for one year.
The report was produced by GE Capital’s Key Solutions consultancy team and is available for download from GE Capital’s European fleet website at www.gecapital.eu/fleet.
The study also examines the financial benefits generated from adopting a ‘green’ car policy. In addition to saving substantial sums by minimising CO2-related liabilities, companies stand to save considerably as CO2 output is directly correlated to fuel consumption: GE Capital’s Key Solutions team estimates that, on average, a 2010 company car saved €162 in its first year when compared to a 2008 model.
On 300 vehicles, such reduction in fuel consumption represents a potential saving in excess of €160,000 over the next three years at current fuel prices.
“Our findings confirm that when it comes to company cars, businesses can take a position that is beneficial to the environment and that also improves the bottom line. Reducing CO2 emissions should be a top priority for every fleet manager,” said Arthur Mathysen Gerst, managing director of GE Capital’s Fleet Services division in EMEA.
“Fuel already represents 21% of a fleet’s total cost of ownership and we expect this value will soon reach 25%, making the financial benefits of a greener car policy even greater in the coming years.”