Listed Kiwi technology company EROAD is continuing its strong growth in the American market, while still recording healthy results here at home.
Chief executive Steven Newman, has now been based in Oregon since October 2015 where the company is expanding its operations beyond the state to Washington and Idaho.
The company is riding on the back of new legislation mandating the use of electronic log books for truck drivers.
As of yesterday, EROAD had grown Total Contract Units (TCU) in the North American market to 4,100.
Oregon remains a focus for the company.
“Oregon remains our most important state and is progressing well,” it says in the statement. “With 3,000 units in Oregon we now estimate our Oregon based WMT market share is 3%. In New Zealand, after the same time period in the market, EROAD had 2,500 units.”
Since the publication of the ELD mandate, EROAD have seen more commitment from the industry to adopting an electronic solution.
“The level of engagement from potential customers is considerably higher as they begin to prepare to meet the new rule’s requirements,” says Newman.
“We are having sales success with customers who have not had telematics as well as customers who have chosen to switch to EROAD from other telematics providers. Our tax based solutions, as well as our Electronic Logbook capability, have both been drivers of this sales success,” says Newman.
“I am encouraged by the impact the new ELD rule has had on the market and customer engagement. With our unique technology, along with both our direct and indirect sales channels, we are very well placed to service the three million plus drivers and trucks required to comply with the new ELD rule, by December 2017,” Newman says.
EROAD’s New Zealand/Australia business has continued to achieve strong growth since September 2015. EROAD is now collecting 34% of total Heavy Vehicle road user charges in New Zealand, up from 29% at April 2015. As at 28 January 2016 EROAD had grown TCU in the New Zealand/Australia market to 31,300.
Health and safety continues to be a major concern for New Zealand businesses and is driving EROAD’s engagement with an increasingly diverse range of customers including light vehicle fleets.
