Johannesburg - Mix Telematics is eyeing growth in the unpenetrated premium fleet market in the Americas as well as consumer vehicle tracking, according to Stefan Joselowitz, the chief executive of the global fleet and vehicle management company.
He told investors on a conference call yesterday that Mix Telematics had identified opportunities to further invest beyond the oil and gas industry in the Americas, where it has customers. South America was attractive, he noted, with “significant opportunity in the passenger vehicle sector”.
Joselowitz said Mix Telematics had identified opportunities in the Brazilian consumer market, which was four times the size of its home South African market and “only single-digit penetrated”. Together, the two markets represented more than 30 million vehicles.
The company already runs an operation from São Paulo, which launched in the company’s second quarter to September. Mix Telematics said this operation showed modest revenue growth in the period and made an expected loss of R5.4 million. The operation is not expected to break even during the current fiscal year.
Joselowitz said it would not grow independently in the region but would roll out its technology with partners.