FORT LAUDERDALE (August 2, 2022) –Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing, and life cycle cost management (LCCM) announced today significant achievements and results for its fiscal year ending June 30, with notable emphasis on strong customer growth as a result of innovative programs and strategic consultation that helped clients navigate through a continued difficult market.
Continued Industry Challenges
The transportation industry continues to face remarkable and unprecedented challenges, still punctuated by supply chain disruptions, lack of available truck inventory, rising inflation, delivery delays, the high cost of fuel, and escalating costs of labor and maintenance. Fleet executives also face daily pressures to explore alternate fuel technologies based on continued headlines in the news.
Despite these challenges, Fleet Advantage helped its clients by delivering over 4,000 new and used trucks this past fiscal year through innovative solutions with flexibility in mind, and expanded its customer base by 25% over the last twelve months. New clients include companies in the grocery, food service, manufacturing, chemical and paper industries.
Solutions-Based Truck Acquisition
Over the last twelve months, industries that rely on trucking and transportation fleets like construction, energy, metals, and manufacturing, as well as last-mile fleets that deliver to grocers and restaurants, have continued to reassess their procurement strategies based on functional obsolescence as opposed to economic obsolescence. With Fleet Advantage’s solutions-based innovative programs, companies that shorten their asset management life cycles through flexible lease model have been able to plan their replacements better and thus avoid the pain associated with the current procurement backlog.
Fleet Advantage’s transportation and private corporate fleets continue to leverage the company’s strategies that lead with flexibility in mind through programs like a Sale-Leaseback and multi-year buying agreements. The company has helped these fleets with strategic lease finance partnerships to help make procurement decisions based on comprehensive planning and availability through multiple manufacturing vendors, as opposed to traditional one-off manufacturing partners.
Pioneering Focus On Emissions Reduction
Fleet Advantage also continued its pioneering and industry-leading focus on helping fleets reduce their carbon emissions over the last twelve months. Through a white paper the company published earlier this year and catching the attention of everyone from industry leaders to members of Congress, it advocates that the best approach to realistically bridge today’s clean-diesel technology into tomorrow’s alternate fuel options is by leading with the appropriate ESG roadmap to determine truck procurement strategies with optimal life cycle management. This approach maximizes environmental considerations and organically progresses toward alternate fuel technology. In doing so, fleets achieve critical ESG goals and continuously operate the most appropriate equipment for their operation without the pressure of straying from their strategic plan by reacting to the headline of the day.
Continued Strength In Employee Retention & Community Service
At a time when employee retention and morale have been stressed across many industries due to a variety of challenges still posed by the pandemic and labor uncertainty, Fleet Advantage was proud to boast strong retention levels for its staff headcount. The company also continued its focus on community service and charitable causes through its Kids Around The Corner foundation, where associates mobilized to help worthy causes in the communities that serve the company and their clients. Financial aid was also contributed to the humanitarian crisis in Ukraine in collaboration with client partners.
About Fleet Advantage
Fleet Advantage is the largest independent lessor for heavy-duty Class-8 trucks and has over $1.8 Billion of assets under its Life Cycle Cost Management (LCCM) program. We serve America’s top corporate fleets, including 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, and CEO John Flynn was a recipient of the Ernst & Young Entrepreneur of the Year® Florida – Emerging Category award.