Cartrack, a global provider of fleet management, stolen vehicle recovery and insurance telematics services, has reached another growth milestone of 550 000 active subscribers.
“This achievement proves that reliable telematics technology is an important and inexpensive management tool for both companies and individuals,” says Global CEO of Cartrack, Zak Calisto. “It is a key element in improving things like passenger safety and security in vehicles, as well as ensuring road safety, fuel efficiencies and appropriate driver behaviour for fleets.”
Since inception, the company has recovered in excess of 20 000 vehicles to the value of over R4,1-billion with Calisto saying it has achieved the highest independently audited recovery rate at 94% in the industry.
Cartrack was the first to launch onto the market a R150 000 recovery warranty, clearly adding extra value to the consumer. To honour this warranty, the company has paid out in excess of R11.5-million since the inception of the recovery warranty in 2012 – a small amount relative to the value of recovered vehicles but testimony to “putting their money where their mouth is”.
“We continue to grow our subscriber base consistently and organically year-on-year in all the regions in which we operate,” says Calisto. “The demand for our services is clearly on the increase given the value proposition. Additionally, globally telematics is being driven more and more by government regulations to improve safety and security.”
For the five-month period to July 2016, Cartrack has experienced a net growth rate of 76% in Asia with the signing of a number of significant partnerships. In Indonesia, Cartrack has developed technology locally for the transport industry. The company has fitted buses with telematics units that relay real time information to consumers about bus schedules and delays.
In Europe, Cartrack has seen a net growth rate of 12% for the five-month period to July 2016. Regulatory matters on the protection of personal information and general road safety are strong influencers of telematics developments in this market and Cartrack has, during 2016, introduced various modifications and developments to assist transporters to comply with these more stringent laws.
Growth in Africa has been low given the current severe economic challenges faced by many countries in Africa. However, good potential is still anticipated in the medium- to long-term for the region.
In South Africa, Cartrack’s collaborative alliance with MAN Truck and Bus in South Africa (MBT-SA) for the on-production-line installation of units was strengthened with the release of the MBT-SA customized telematics solution, available to all MBT-SA clients.
Cartrack currently has a presence in 23 countries which span Africa, the Middle East, Europe and Asia Pacific. More recently, an office in USA has been established and operations are expected to commence soon.