Cartrack backs growth in US
Vehicle-tracking firm’s upgraded platform will help it take advantage of opportunities in underserviced country
Vehicle tracking and fleet management specialist Cartrack is upbeat about its recent foray into the competitive US market.Cartrack’s main operating base is SA and Africa, with markets in selected countries in the Asia-Pacific region and Europe. The company established an operational foothold in California in 2016 and — according to an annual report released this week — has to date incurred start-up and initial operating costs of R4m.Cartrack CEO Zak Calisto said in-field testing of hardware and related software functionality on a new upgraded platform would start shortly. He said Cartrack’s strong product offering — coupled with competitive pricing as well as a developing distribution and operating infrastructure — would provide the platform for market penetration in 2018. Calisto pointed out that despite being one of the most advanced economies in the world, the US’s telematics penetration was relatively low at between 15% and 30%. But he noted that the Federal Highway Traffic Safe...
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