FORT LAUDERDALE, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) — Fleet Advantage, a leading innovator in specialty financing, fleet data analytics, fleet management services, and life cycle cost management, announced today substantial achievements for its fiscal year ending June 30, with strong growth in Lease Origination and Syndications underlining an impressive 12-month record for the company, driven by new analytic innovations, key strategic partnerships and a new brand identity.
Overcoming Ongoing Economic Challenges
With today’s continued economic disruptions, the company demonstrated exceptional resilience and strong financial health driven by its unwavering commitment to serving corporate private fleet customers. Today the company currently serves 50 of America’s top private fleets and continues to expand its client base driven by a dedicated team focused on executing bottom-line results for its portfolio of customers. This strong industry performance underscores the company’s ability to adapt and thrive in a volatile market, and has resulted in over $1.1 Billion in Syndicated Lease volume during the last 12 months, as well as accelerated remarketing sales activity directed to approximately 500 new buyers.
New Innovations & Key Strategic Partnerships
Fleet Advantage extended its pioneering technology legacy with the addition of several new data innovations, industry resources and new strategic partnerships. These were important as the industry prepares its truck acquisition strategies for the upcoming CARB pre-buy The company offered client audits to help fleets prepare for the largest truck pre-buy ever. A recent Fleet Advantage survey revealed that while 36% of fleets said they have a CARB prebuy procurement plan in place, nearly half (64%) said they either do not have a plan or are unsure if their organization has a plan.
The CARB pre-buy is just one of many challenges facing fleets today, which means remaining flexible through business agility is key. To help fleets leverage the best data analytics in identifying opportunities to maximize flexibility, the company this year unveiled its newest data resource; the Unbundled Full-Service Lease Comparative Index . Flexibility and competitive finance options are the most effective ways to reduce truck and finance costs. Fleet Advantage’s new Unbundled Full-Service Lease Comparative Index provides calculations to help private fleets determine whether unbundling their lease structure suits their operation as compared to remaining in a full-service lease which offers severe limitations in financial flexibility.
Private fleets recognize the importance of flexibility, but not at the expense of compromising the effectiveness of their operations. Many fleets today remain trapped in a full-service lease because they need a reliable maintenance program. That is why the company this year also announced a new partnership with FleetNet America by Cox Automotive, where Fleet Advantage can facilitate reliable fleet maintenance service offerings to private fleets that seek all the benefits of a flexible, unbundled lease structure with access to a world-class maintenance provider with a proven nationwide network.
2024 Punctuated By A New Look
The year also served as a milestone moment with Fleet Advantage unveiling its new logo, visual identity and tagline: “Asset Management Reimagined”. The refreshed identity marked a celebration of a winning mindset while paying homage to its legacy deeply rooted in innovation and pioneering data analytics to drive fleet success. Driving the success of the company continues to stem from its vastly dedicated team of professionals, whose team contributions and individual accomplishments led to 21 awards and accolades over the last 12 months. The company also proudly boasts a diverse talent workforce represented by 48% female and 30% minority professionals on staff.
The company also continued its strong focus on supporting communities through a variety of charitable donations, humanitarian activities, and supporting causes from its Kids Around The Corner Foundation. It most recently helped over 19 organizations and this year partnered with seven new organizations.
“These program accomplishments help our fleet customers remain highly competitive in today’s challenging market, said Brian Holland, President and CEO of Fleet Advantage. “Our team’s commitment to excellence has enabled our private fleet customers to remain profit-driven, and the continuous innovation in data analytics we’ve achieved is a testament to their talent and perseverance. Together, we are shaping the future of transportation and setting new standards in the industry and I want to thank them for their unwavering dedication and outstanding achievements.”
About Fleet Advantage
Fleet Advantage is the largest independent lessor for heavy-duty Class-8 trucks and has over $3 Billion assets and over 20,000 units under its Life Cycle Cost Management program. This comprises a client portfolio of more than 50 of America’s top corporate fleets, including five (5) of the top 10 private fleets in the country. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet asset management, financing solutions, and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Our model of TCO, clean diesel, and safety-enhanced trucks with shorter life cycles complement our customers’ ESG goals. The accomplishments of Fleet Advantage and our leadership team continue to be recognized for tremendous growth and industry leadership with numerous awards, including Top Private Independent and Most Innovative Firm by the Monitor Daily, Top Software & Tech Awards, Top Women Associates in Finance, and Green Supply Chain Awards to name a few. The company has also been named to Inc. magazine’s 500|5000 list of fastest growing companies in the nation.
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