Cartrack hits 600 000 milestone

Johannesburg – Fleet management company Cartrack has

reached more than 600 000 active subscribers globally, it says.

The company said on Tuesday that this represents an

increase of 20 percent since last February.

Cartrack is in competition with Inseego, which provides

the Ctrack brand and has about the same number of subscribers. Ctrack became

part of Inseego after the company, previously called Novatel, changed its name

after buying out South African group DigiCore in a R1 billion deal a few years

ago.

Cartrack says an increase in active subscribers

translates into further growth in annuity revenues, and is a key determinant in

the ability of the company to grow its base globally.

Cartrack notes the growth exceeds its expectations, and

it has now established a US operation, which will now start trading.

“The introduction of mandatory Electronic Driver Logging

legislation for long haul vehicles in the US is creating substantial growth

opportunities for fleet management technology.”

Read also:  Cartrack committed to growing US operations

It currently has a presence in 24 countries, which span

Africa, the Middle East, Europe, Asia Pacific and, more recently, an office in

the US.

“The robust subscriber growth was driven by strong performances

in Asia, Europe and South Africa. “The South African market is differentiated

by the stolen vehicle recovery service that is provided, a sector in which

Cartrack has performed consistently well. Cartrack has managed to maintain an

exceptional recovery rate of around 94 percent over many years.”

It explains this is partly as a result of having an

in-house recovery team, which allows greater control of deployment and service

levels.

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