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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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