Maines reduces fleet operating costs by using Fleet Advantage EXchangeIT

Fleet Advantage, provider of truck fleet business analytics, equipment financing, and lifecycle management, announced that its EXchangeIT program and strategic alliance with Maines Paper & Food Service Inc has resulted in success.
These companies first 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 lifecycles combined with contract maintenance. The first 100 new lease tractors 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.  Results verify that Maines has substantially reduced its fleet operating costs.
Final validation of the program is a recently signed EXchangeIT agreement that replaces the first 100 tractors under the first EXchangeIT lease.
“We in-serviced 100 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.
Maines attributes the decision to exercise EXchangeIT in large part to the improving fuel economy on new model tractors and its confidence in Fleet Advantage and its product.
“We estimate the new models will increase fuel economy by close to 10%,” said Terry Walsh, chief operating officer of Maines.
Walsh credits a portion of the increased fuel efficiency to driver acceptance and the comprehensive 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.
For more information, access www.fleetadvantage.net.