NZ Truck & Driver News

 
EROAD clocks milestone

EROAD clocks milestone

NZ Truck & Driver News

 September 2019   
EROAD has installed its 100,000th telematics unit, taking less time to reach the milestone than other global telematic industry rivals, it says.

The achievement is, it says, "a clear indication of EROAD's capability of remaining a significant player within a global industry anticipated to be worth $US750billion by 2030, according to a recent report.

The McKinsey and Company report identifies the willingness of governments to mandate regulatory telematics services because of their potential to increase road safety, improve driving behaviour and align insurance premiums with actual need.

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EROAD has installed its 100,000th telematics unit, taking less time to reach the milestone than other global telematic industry rivals, it says.

The achievement is, it says, "a clear indication of EROAD's capability of remaining a significant player within a global industry anticipated to be worth $US750billion by 2030, according to a recent report.

The McKinsey and Company report identifies the willingness of governments to mandate regulatory telematics services because of their potential to increase road safety, improve driving behaviour and align insurance premiums with actual need.

"Although many commercial vehicle operators have been early to recognise the improved fuel economy, efficient regulatory compliance and more effective management of vehicle fleets delivered through telematics, the report also outlines the low penetration of telematic services within each country," EROAD says.

"While the total addressable market is sizeable, this is not an industry where many providers survive. Few companies can self-fund the R&D investment to maximise advancements in technology and survive the rigours of scalability."

EROAD, led by Steven Newman, solved this problem by becoming listed on the NZ Stock Exchange – this providing access to capital to fund future growth.

Newman personally delivered the 100,000th unit to Hilton Haulage in Timaru – a company that EROAD says reflects its customer base – "loyal followers who have grown alongside the company."

The Ehubo was installed in a new DAF CF85 addition to Hilton's fleet of 600-plus trucks.

EROAD, which has recently announced a 40% increase in revenue for the last financial year – and a 24% increase in total contracted units – says that its technology now collects 46% of NZ's Road User Charges.

By March this year, EROAD had collected $NZ2.5billion for the NZTA in RUCs.  

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