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Prestec UK Ltd

Overview: 

After a detailed consultation process with Hawkins Velocity and its partner SRV Associates, Prestec upgraded all of its fleet to new vehicles, saving up to £2,500 per vehicle per year in total ownership costs, saving £60,000 over the 4 year contract and also releasing £27,000 of capital that was tied up in its fleet.                                                                                                                                                                                                                                    

The client:

Prestec UK are a leading Structural Repair and Refurbishment Company with a working fleet of over 30 vehicles. For 27 years they have operated an owned vehicle asset policy for their fleet and have managed their vehicles in house and outsourced the maintenance through various service agents.


The issue / challenge:

Like many businesses operating through these challenging times, Prestec UK found locating funds to replace vehicles difficult and as cash flow through the business became more constrained the financial priorities shifted to day to day activities. This slowdown in vehicle replacement obviously impacted the business in many areas, such as increased vehicle downtime resulting in  de-motivated staff and unhappy clients, the company brand was affected by the appearance of a tired, old fleet and on top of this vehicle costs began to spiral particularly in maintenance and fuel spend.

The company required a solution that could reverse this downward spiral without increasing their day to day operating costs.


Solution:

After consultation with the client where the key requirements were discussed, Hawkins Velocity and its partner SRV associates concluded that the best solution would be to offer and implement its unique ‘Universus’ product.

This product is designed to offer a complete fleet solution to companies that have owned assets and would provide Prestec with a needed cash injection as well as a viable vehicle replacement programme.

The process included:

 

- Current fleet evaluation and valuation including maintenance and fuel spend

- Replacement fleet assessment including  make, model, derivative and additional specification

- Replacement fleet maintenance, tyre, mileage and vehicle recovery assessed

- Current fleet disposal and cash sweep returned to client

- Replacement fleet and any grey fleet vehicle details uploaded onto c-fleet vehicle management system

- Staff training provided in c-fleet vehicle management system

 

 Conclusion:

- Modern fleet – reduced CO2, improved fuel efficiency saving up to £2500 per vehicle per annum

- Fixed monthly budget – no surprises, less vehicle downtime - all maintenance, tyres, recovery and Road Fund licence for the duration

- Motivated staff  – improved brand image whilst also demonstrating strong  eco efficient credentials within the marketplace

- Cash sweep into company from outgoing fleet disposal - total value £27,000

- Financially positive – even though the outgoing fleet had an average age of 7 years and has been replaced by a new fleet - moving forward our 4 year evaluation demonstrates a saving of over £60,000 across the fleet

- Improved productivity through better fleet management information – single internet based portal providing detailed and accurate data – internal duties evaluated and streamlined  resulting in a reduced administration burden 

 

 

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Prestec UK Ltd