Spireon Reports Strong Growth in Auto and Transportation Sectors

Spireon, a company focusing on vehicle intelligence, has reported substantial growth in both Automotive and Transportation sectors, and achieved a number of corporate milestones in the first half of 2018.

In the franchise auto dealer segment, Spireon increased Kahu device shipments by 65 percent and boosted revenues by 38 percent during the first six months of 2018, compared to the same period in 2017. Kahu continues to attract large dealer groups, because, the company notes,  its ability to improve sales effectiveness, operational efficiency, risk management and customer service scores.

In Q1 2018, the company showcased unique capabilities of Kahu, such as advanced analytics for test drives and aging inventory, car-sharing with Drive On Demand, and consumer mobile app features designed to grow service retention and add-on revenue. The significant, rapid business impact of Kahu to dealerships has gained 73 new dealer customers for Spireon in the first half of 2018.

Kahu generates profit for dealers while delivering consumer benefits including Stolen Vehicle Recovery and connected car features. In 1H 2018, consumers used the Kahu app on average 11 times per month to locate their vehicle as well as set geofence and speed alerts. The Kahu app has maintained ratings of 4.6 out of 5, or higher, on both Apple and Google app stores, illustrating the high value of Kahu to car buyers.

In the first half of 2018, trailer revenues increased 36 percent versus 1H 2017, and Spireon secured or grew business with several notable enterprise customers including Transervices, Contract Leasing Corp. and Ryder System, Inc. (NYSE:R). Spireon’s fleet business in the small and mid-market segments also grew in 1H 2018, with 45 percent increase in device shipments year over year.

 

Category: General Update, News