An interview with GE Capital’s Gary Killeen
Gary Killeen is Fleet Services Commercial Director at GE Capital UK. He joined the company in 1988 and has since developed deep domain expertise in the European fleet industry and asset based lending in general. He built his early career in finance with roles of both Financial Accountant and FP&A manager.
Gary founded GE’s now-global best practice strategic consulting group, often referenced to as ‘Key Solutions’.
We kicked off by quizzing Gary on what he thought were the greatest problems facing today’s fleet managers.
Gary Killeen: “The key challenge for fleet managers is to balance needs within their organisation – running costs, employee benefits, legislative compliance, environmental concerns and more – that are often at odds.
“Arriving at a solution that satisfies all these requirements is very difficult and, we believe, the best approach is to involve all parties in the decision-making process in order to arrive at the best outcome.”
It has been a few months since GE Fleet Services revealed results from a survey which suggested a significant level of optimism amongst fleet managers with a slowly recovering economy. What kind of measures do you think the Government can incorporate to aid or speed up recovery?
Gary: “Our Company Car Trends survey suggested that we are beginning to see confidence growing among fleet decision makers.
“Confidence is a key factor in moving beyond the effects of recession but is often one of the scarcest resources, so the findings are encouraging.
“The tipping point for a recovery often comes when businesses regain the sense of belief that enables them to start making major investments once again. Anything a Government can do to aid this process is helpful.”
With the majority of fleet managers maintaining a very stand-offish attitude towards electric vehicles, do EVs have a valid future in the fleet landscape?
Gary: “The new crop of EVs that are coming onto the market could form a small but viable part of the fleet mix. As long as range is not an issue and running costs can be contained, there is no real reason not to be using EVs.
“As more fleets gain operational experience with them and costs start to fall, their popularity should grow. However, if there is a sea change in motive power for company cars during the next decade, it is more likely to be towards advanced hybrid technology.”
Do you feel manufacturers are doing enough to produce vehicles that limit overheads for fleet operators?
Gary: “Manufacturers have to fulfil a hugely complex brief when they produce a vehicle – they need to arrive at a solution that has high levels of showroom appeal, that works well in real life conditions, that meets all kinds of safety and environmental legislation and can be sold across the world.
“Sometimes, I think it is fair to say, running costs could be higher on their list of priorities but the fact is that today’s company cars are generally safer, better equipped, nicer to drive, more environmentally friendly, better built and cheaper to service than their predecessors – yet overall costs have not risen to any marked degree in a number of years.
“They represent excellent value for money as a business transport tool and employee benefit.”
How successful do you think the Continuous Insurance Enforcement Law (CIEL) will be in limiting the number of uninsured drivers on UK roads?
Gary: “Uninsured drivers have been a growing problem on our roads for a number of years as premiums for individuals have risen. The CIEL is one way in which this problem can be tackled but it will probably work best alongside other measures, including looking at ways of reducing insurance costs for those who attract the highest premiums.”
What lies ahead for GE Fleet Services? What can we expect to see from your company in the future?
Gary: “We have an excellent UK, European and worldwide team with perhaps an unrivalled degree of fleet expertise which is helping us win new deals, retain existing customers and produce innovative new products that will enhance our already comprehensive offering. We are therefore looking to the future with a high degree of confidence.”
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