Cartrack subscribers reach 500,000

Cartrack subscribers reach 500,000

Since its launch in the South African market in 2004, Cartrack has grown from a car theft recovery (SVR) organization to a leading global telemetry solution provider for vehicle asset tracking and related data management, using Software as a Service (SaaS) as its delivery model. The company built a reputation for providing high-quality, value-added services and achieving rapid, sustainable growth and profitability, culminating in its successful listing on the Johannesburg Stock Exchange in 2014.

Actions speak louder than words. Cartrack recently surpassed the milestone of 500,000 active users in the regions where it operates, and it is estimated that Cartrack is now among the top ten telemetry companies in the world.

The company has also recorded the recovery of over 18,000 vehicles with a total value of over R3.5 billion and has always maintained its independently audited recovery rate at 93% or higher. In addition, Cartrack pioneered the unique R150,000 recovery guarantee. Obviously, it is impossible to recover all stolen vehicles, so Cartrack has fulfilled its well-known recovery guarantee since it launched in 2012 and paid more than R8 million in damages – a small sum relative to the value of the recovered vehicle, but it also proves Cartrack's commitment to its exceptional service and proves that "words are walked together".

Cartrack's growth has not only seen its geographic expansion into Europe, Malaysia, Thailand, the United Arab Emirates and the rest of Africa. It has also seen the organization develop proprietary technology from advanced fleet management to helping track down prisoners in Singapore as well as other organizations that provide workforce management. Other technology variants have expanded the company's services into insurance risk management, data analytics and value-added products to provide security and peace of mind for individuals.

Innovation is key to our business and our success – and to that end, we ensure that we are constantly developing new technologies and taking into account the lessons we have learned in all countries in which we operate. This keeps us globally relevant in hardware and services – John Edmeston, Global CFO and Deputy CEO.


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