Fleet Advantage Exceeds More Than $2.5B in Lease Originations in Last Decade
JAN 26, 2022 - 6:38 am
Fleet Advantage, a provider of truck fleet business analytics, equipment financing and life cycle cost management (LCCM), reached a new milestone, achieving more than $2.5 billion in lease originations over the last 10 years.
A primary reason Fleet Advantage reached this accomplishment was its continued emphasis on helping clients remain steady and consistent in their asset management and planning. The company’s focus on the use of advanced data analytics, coupled with its early truck lease exchange program, EXchangeIT, and lease extension flexibility, has helped clients stay ahead of the procurement turbulence felt across much of the broader industry.
In 2022, there remain new challenges companies with transportation fleets must tackle to remain successful within the competitive industries in which they operate. With more than 90% of its leases rated as investment grade, Fleet Advantage’s emphasis on strategic consultations and customer service and key relationships with equipment manufacturers, dealers and finance partners have helped the company achieve a consistent growth rate over the last 10 years of 27%. The company is now working with five of the top 10 private fleets in the United States.
“Relative to the greater industry challenges, we’re fortunate to reflect on the record-setting accomplishments and achievements we had over the last 12 months,” John Flynn, CEO of Fleet Advantage, said. “Our success during this time is a testament to the hard work of our dedicated associates and our customers, who operate under a business philosophy that embraces flexibility in their asset management strategies.
“While some in the industry are using fear to pressure fleets to pivot their asset management strategies, we strongly believe fleets should stay the course and rely on proven data analytics-driven philosophies for life cycle asset management. Those fleets that take an active, disciplined approach to maintaining shorter life cycles will continue to lead the industry with the most advantageous total cost of ownership despite disruptions to the system.”
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