“This is a milestone for our company,” says Juan Marais, chief sales officer at Cartrack. “An increase in active Cartrack subscribers translates into further growth in annuity revenues, and is a key determinant in our ability to grow our base globally,” he explains.
“The consistency of our growth over the last year is a reflection of the hard work and innovation of our staff, the reliability and innovation of our technology and the continued value that the consumer sees in our service offering.
“We have also invested heavily in research and development and distribution channels and this is translating into robust growth.
“We are part of an under-penetrated and high growth industry and see ourselves very much as still in a growth phase across all continents. The expectation is that this growth trend will continue,” he says.
Electronic Driver Logging (ELD) legislation for long-haul vehicles in the US is creating substantial growth opportunities.
The South African market is differentiated by the stolen vehicle recovery service.
Cartrack says it has a recovery rate of around 94%, partly because of having an in-house recovery team, which allows greater control of deployment and service levels.
“Overall, except for sedentary conditions in the rest of Africa, the growth we’ve seen has reflected our expectations. It is too soon to see a base being actively built in the USA, but we’re excited for its potential,” Marais adds.
“Ultimately, expanding our operations internationally as well as ensuring the continued provision of innovative, reliable and industry-leading services and technology remains our commitment,” he concludes.