The report analysed the reduction in CO2 emissions from new company cars in 11 European countries between 2008 and 2012. Extrapolating the figures out, the report estimates that the cumulative reduction achieved between 2010 and 2012 is in excess of 13,143,000 tonnes – more than the CO2 produced by a coal-fired power plant over three years.

The Key Solutions team – the specialist fleet consultancy unit of GE Capital – estimates that had fuel efficiency remained at 2009 levels, the fleet sector would have incurred an additional fuel cost of more than €6.2bn between 2010 and 2012.

Top 5 countries for CO2 reduction and avoided fuel costs (2010-2012): 

Commenting on the findings, Alex Barbereau, EU accounts and consultancy director, GE Capital EMEA, said: ‘Our research shows a continued reduction in the CO2 emissions from company cars across Europe. This is reflective of the improved fuel efficiency of new vehicles and, also, an on-going focus on greener car policies.

‘However, when our previous European CO₂ Assessment was published in 2011, fuel accounted for 21% of the Total Cost Ownership and today this figure stands at 26%. Therefore, fleet managers have both an environmental and commercial incentive to achieve further reductions.’

The report was produced by GE Capital’s Key Solutions consultancy team and is available for download at http://www.gecapital.eu/common/docs/KSCO2Assessment2012.pdf.