Image

“Unprecedented growth” at Fleet Advantage

Sept. 3, 2014

Growth in 2014 has exceeded expectations according to Fleet Advantage, which recently announced the company’s Q2 results.

Fleet Advantage first half 2014 highlights include:

• Lease origination volume in excess of $165 million

• New equipment orders in excess of 1,500 vehicles

• Expansion of interim loan facilities to $100 million

• Increased funding capabilities in excess of $250 million annually

“Our growth has been unprecedented in our industry” observed John Flynn, president and CEO of Fleet Advantage. “We recently completed an expansion of our offices along with the addition of our new Technology Center…”

By combining clean diesel technology, proprietary business intelligence tools and exclusive partnerships with suppliers and funding sources, Fleet Advantage is creating an “inflection point” in the transportation sector, noted Flynn. The company’s ExchangeIT program and software is designed to identify the “tipping point” in a truck’s lifecycle—the point at which it costs more to operate the vehicle than it would cost to replace it with a newer, more fuel-efficient truck.

Flynn credits the success of this model, paired with the flexibility of the company’s financing structure, for the strong growth Fleet Advantage is seeing now.

The company has ordered over 1,500 new clean diesel tractors on behalf of its clients. The largest percentage of that equipment has been ordered through Volvo and Freightliner. “The teams at both Freightliner and Volvo have been exceptional to work with,” said Mike Spence, senior vice president of fleet services at Fleet Advantage.

Fleet Advantage is now monitoring and managing more than 6,000 over-the-road vehicles, the company noted.  Shortening the trade cycle of the top private fleets benefits the resale markets, as well, by increasing the supply of premium off–lease vehicles, which are delivering similar fuel and maintenance savings to the secondary truck market, they said. The “mandate for economic sustainability and corporate objectives to reduce CO2 emissions” is at the forefront of the Fleet Advantage mode.

John Flynn was awarded the 2011 Ernst & Young Florida Entrepreneur of the Year award in the "Emerging" category, recognized as an entrepreneur who demonstrated excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.

About the Author

Wendy Leavitt

Wendy Leavitt joined Fleet Owner in 1998 after serving as editor-in-chief of Trucking Technology magazine for four years.

She began her career in the trucking industry at Kenworth Truck Company in Kirkland, WA where she spent 16 years—the first five years as safety and compliance manager in the engineering department and more than a decade as the company’s manager of advertising and public relations. She has also worked as a book editor, guided authors through the self-publishing process and operated her own marketing and public relations business.

Wendy has a Masters Degree in English and Art History from Western Washington University, where, as a graduate student, she also taught writing.  

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Leveraging telematics to get the most from insurance

Fleet owners are quickly adopting telematics as part of their risk mitigation strategy. Here’s why.

Reliable EV Charging Solution for Last-Mile Delivery Fleets

Selecting the right EV charging infrastructure and the right partner to best solve your needs are critical. Learn which solution PepsiCo is choosing to power their fleet and help...

Overcoming Common Roadblocks Associated with Fleet Electrification at Scale

Fleets in the United States, are increasingly transitioning from internal combustion engine vehicles to electric vehicles. While this shift presents challenges, there are strategies...

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...