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Need Some Support? Hyundai Capital Offers Dealers & Customers Worldwide COVID-19 Support Programs

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The COVID-19 pandemic has triggered the worst global economic downturn since the Great Depression in the 1930s. Posting the fiscal deficits larger than those during the 2008 global financial crisis, countries around the world have come up with a series of measures to stimulate the economy. The worst economic downturn is still underway. Some countries are fortunate enough to see relatively quicker recovery, but the COVID-19 pandemic is aggravating in many others, including the United States, Brazil, India, and Russia, further dragging down their economies. The International Monetary Fund has recently forecasted that the 2020 global economic growth rate would be minus 4.9% due to the pandemic. The Federal Reserve announced in July that while the U.S. industrial output increased for the previous two months, the production dropped by an annual rate of 42.6%, the largest quarterly rate decline since World War II. The automotive industry is also going through an unprecedented crisis. Vehicle manufacturers have suspended their factory operation, and dealerships are struggling with their business. Compounding the crisis is that their potential customers have lost their jobs and seen their income shrunk. IHS Markit has forecasted that 88 million cars would be sold this year worldwide, down by 12% from a year ago.  Global automotive companies have been looking for diverse measures to overcome the crisis, including budget cuts, fixed cost reduction, liquidity increase, to name a few. Considering the difficulties that both customers and dealers face, Hyundai Capital’s global entities have come up with various support programs in partnership with Hyundai, Kia and Genesis. And these programs have been well-received in the U.S., Canada, the United Kingdom, Germany, and Brazil. Hyundai Capital operates Hyundai Finance, Kia Finance and Genesis Finance in 11 countries worldwide. Hyundai Capital America, which runs Hyundai Motor Finance, Kia Motors Finance and Genesis Finance in the market, provided first payment deferral programs to 20,000 new retail customers who purchased a vehicle, allowing them to make their first payment 90 to 120 days later between March and May. The three months were when the U.S. was hit hardest by the COVID-19. The American operation also allowed 130,000 existing customers to defer a monthly retail or lease payment up to three times and extending their finance term, easing the financial pressure of more than 200,000 monthly payments. The measures turned out to be successful. Although the U.S. auto market has worsened in the wake of the COVID-19, Hyundai and Kia were able to achieve a combined market share of 8.9% as of June, continuing its winning streak in market share for 23 consecutive months. “Our top priority lies in better supporting customers and dealers according to each market’s conditions as we go through this unprecedented time,” said Paul Skiadas, who heads the Global Business Division at Hyundai Capital. Relief programs for customers suffering from COVID-19 Hyundai Capital entities in the U.S., Canada, and the UK offered payment deferral and waived programs to customers who can’t afford to make a payment due to the COVID-19 pandemic. In Canada, in which the automotive market was hit harder by the pandemic than in the neighboring U.S., Hyundai Capital Canada offered payment deferral programs up-to 180-days to customers who financed the purchase of a new vehicle through Hyundai Motor Finance and Genesis Finance. The company also offered a 6-months payment waiver to customers who financed or a 3-months payment waiver to customers who leased a new vehicle through Kia Motors Finance. Existing customers were offered to defer lease payment up-to one month, finance payment up-to three months. As a result of various customer support programs, “Hyundai Capital Canada was able to support strong sales for OEMs in June when the combined market share of Hyundai and Kia rose to 13.5% in June,” said Mark Di Donato, who heads Sales and Marketing Department at Hyundai Capital Canada. “We achieved the largest monthly sales volume of $200 million in July since the establishment of Hyundai Capital Canada,” he added. Hyundai Capital Bank Europe offered zero-interest loan and payment deferral programs in Germany. Hyundai Capital UK directly contacted customers whose agreements were due to end during lockdown to offer them a 3-month deferral or 12-month refinance of their balloon payment. The measures helped customers preserve future renewal opportunities. They also launched a 0% PCP product with 3-month deferred payments to help customers. All of this was heavily promoted and signposted via dedicated webpages. Banco Hyundai Capital Brasil also decided to extend the customer care program in August. New customers can make their first payment starting from 2021, and existing customers can defer their payment for up to 90 days. Liquidity support for dealers amid sluggish auto market The support from Hyundai Capital is not merely targeted at customers. Dealers also benefited from a chain of aids. Global operations came up with programs to improve cash flow of dealers struggling with financial difficulties amid the downturn of the automotive market. Hyundai Capital America was quick to deploy solutions that spanned their floor plan and commercial financing products in support of their dealer partners. As part of Dealer Cash Flow Assistance Programs, the operation provided 60-day deferral on floor plan interest payments and 60-day waived curtailments on aged units. Also, 90-day deferral on principal payments for existing working capital and real estate loans and 3-year fixed interest-only for new working capital loan applications were offered. Hyundai Capital Bank Europe provided payment deferral programs for 105 days to about 640 Hyundai and Kia dealers in Germany. Similarly, Hyundai Capital UK extended interest-free stocking periods and suspended payments for demonstrators for over 300 dealers on wholesale credit to ease the burden of the lockdown period when they were unable to sell cars. Banco Hyundai Capital Brasil has extended the period for its floor plan payment from 120 days to 210 days. “We are committed to helping dealers stay financially healthy with the dealer fund, raised together with Hyundai Motor Brasil and its dealers,” said Banco Hyundai Capital Brasil CEO Cezar Janikian.
Auto Dealers Greet North American Free Trade Deal with Relief

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Alexandria, VA — October 1, 2018 — After months of uncertainty, the American International Automobile Dealers Association (AIADA) today welcomed the news that the United States, Canada, and Mexico have all agreed to a revamped version of the North American Free Trade Agreement (NAFTA), now known as the United States-Mexico-Canada Agreement (USMCA). The new treaty could be signed by all countries within 60 days, and will then need to be passed by Congress. AIADA President and CEO Cody Lusk issued the following statement: "Uncertainty is the enemy of business, large and small. Today's announcement of a trilateral agreement between the U.S., Canada, and Mexico allows the entirety of the auto industry, from manufacturers to hometown dealers, to once again plan for the future. AIADA's 9,600 dealer members look forward to learning additional details about the pact, and its impact on the auto sector, in the coming weeks. "We remain deeply concerned over the Department of Commerce's ongoing 232 investigation, and the threat of massive new tariffs on imported autos and parts. Dealers will continue to urge the Trump Administration and Congress to pursue positive trade policies that keep the American auto industry open, dynamic, and competitive." America's 9,600 international nameplate auto dealers employ more than 577,000 Americans, resulting in a payroll of $32 billion and an additional 527,000 indirect jobs. Last year, they sold 8.4 million vehicles to American consumers – 59 percent of total U.S. retail vehicle sales. For more on the impact of America's international nameplate dealers on our economy visit AIADA.org/our-impact . About AIADA Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America's international nameplate automobile franchises that sell and service the following brands in the United States: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Genesis, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Scion, Smart, Subaru, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities, they serve, providing over 577,000 American jobs. Visit AIADA online at www.aiada.org .
Spireon Announces New Kahu Enhancements Designed for Auto Dealer Groups

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Irvine, CA — September 18, 2018 — Spireon, the vehicle intelligence company, is adding several enhancements to its Kahu connected car solution, designed to provide automotive dealer groups with the tools they need to optimize operations, improve sales results and mitigate risk. New features include streamlined portfolio and inventory management, account transfer for seamless dealer trades, mobile views of inventory age, new test drive analytics, and more. Kahu turns any vehicle into a connected car, empowering dealers to view and manage vehicles from their desktop, tablet or smartphone. Standard lot management features like real-time location tracking, geofencing and battery management streamline operations and improve sales efficiency. Stolen vehicle recovery mitigates risk for dealers and makes Kahu a profitable add-on when sold through to consumers. Dealers can also utilize mileage data from customer vehicles post-sale to better target them for servicing, lease renewals and trade-ins. New enhancements to Kahu include: Centralized Portfolio Management — Multi-store dealer groups can now view inventory, vehicle location, battery health, test drive data and more, for all stores from a single login. Simple Inventory Transfers — Dealers can easily transfer Kahu vehicles between stores, seamlessly executing dealer trades. Enhanced Mobile Views — Improved user interface and added detail on individual vehicles boost operational and sales efficiency. iPhone users will also gain updated maps with more accurate satellite views to inform walking directions and easily locate vehicles for test drives. In-App Inventory Aging — To help dealers move inventory quickly and optimize inventory turnover, the Kahu Dealer app now identifies vehicle age along with trim details so the sales team knows which vehicles to move first. New Analytics Dashboard and Reports — Unique insight into test drives, inventory mix, aging, and other vehicle data helps dealers optimize inventory and pricing based on consumer interest. The new dashboard provides flexibility to filter by make, model, color, and trim, while automated reporting provides proactive insights without the need to login to the portal each time. Dedicated Recovery Hotline — Kahu helps dealers nationwide to recover vehicles with an average recovery time of 26 minutes. With a new dedicated recovery hotline, dealers are further protected from losses and downtime due to theft, recovery, and reconditioning costs. Expanded DMS Integration – Kahu now supports 80 percent of the franchise dealer market through integration with Reynolds & Reynolds and CDK Dealer Management Systems, simplifying the integration of Kahu into dealer operations and streamlining consumer onboarding to Kahu. In December of 2017, Kahu was named New Product of the Year in the automotive enterprise category of Business Intelligence Group’s 2017 BIG Awards for Business. In May of this year, Spireon was named IoT Vehicle Telematics Company of the Year in the 2018 Compass Intelligence awards. In addition to award-winning technology, Kahu customers also benefit from Spireon's white glove customer service, which has earned the company four awards in the past 15 months, and a recent Net Promoter Score of 71. “While U.S. auto sales have remained steady in 2018, the market continues to consolidate as dealer groups seek greater efficiencies and new opportunities to grow profits,” said Sunil Marolia, vice president of product management for Spireon. “And although the latest release of Kahu has been enhanced for dealer groups, independent dealers can also benefit from the streamlined operations, increased sales effectiveness, reduced risk, and increased customer loyalty generated by Kahu. Once dealers have the power of Kahu driving their business, they can’t imagine running it any other way.” To learn more about Kahu, please visit www.spireon.com/kahu . Kahu is only available through automotive dealerships. Dealers interested in selling Kahu can inquire here: www.spireon.com/kahu#becomedealer . About Spireon Spireon, Inc. is North America’s leading connected vehicle intelligence company, providing businesses and consumers with powerful insights to track, manage and protect their most valuable mobile assets. The award-winning Spireon NSpire platform supports nearly 4 million active subscribers across the company’s growing suite of products for new and used car dealers, lenders and financial institutions, rental car agencies, commercial and local fleet operators, and consumers. Learn more at www.spireon.com . Media Contact Collin Trotter, Business Technology, Havas Formula, 619 234 0345, havasformula.com  
ACV Auctions on Pace to Sell Over 100,000 Vehicles Annually in the U.S., Gaining Share of Wholesale Automotive Market

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Buffalo, NY — September 10, 2018 — ACV Auctions Inc. , the leading dealer-to-dealer, online wholesale auction platform, sold over 8,600 vehicles in August, and is on pace to sell over 100,000 vehicles annually in the United States. The rapidly growing wholesale automotive solution finished August over three times larger than sales in August 2017. As for market expansion, ACV is ahead of schedule, having expanded into 64 of the 75 markets planned for 2018. ACV Auctions enable dealers to buy and sell vehicles instantly without ever leaving their lots. Dealers can set up personalized filters to get notifications sent to their mobile devices and computers when 20-minute auctions begin for the vehicles they are looking to buy. When dealers open a notification, they get the industry’s leading condition report, including 30-60 high-resolution photos, paint meter readings, tire depth, onboard diagnostic (OBD-ll) scan results and Carfax auction alerts. “The trust, transparency and real-time capabilities that our platform provides is helping dealers succeed,” said ACV Auctions CEO George Chamoun. “As margins compress, dealers are turning to ACV Auctions to eliminate the gamble involved in selling and purchasing vehicles from traditional sources. The evolution of wholesale to digital is accelerating and our significant investment in technology and our people is producing proven benefits to dealers.” The company has seen rapid success as thousands of franchise and independent dealers turn to ACV to buy their wholesale inventory. The 8,600 vehicles sold in August were up from 7,600 sold in July representing significant month-over-month gains in market share. In August, the company passed another important milestone; over 1,000 unique franchise dealer rooftops sold a vehicle on ACV Auctions. According to the National Automobile Dealers Association (NADA), there are 16,802 franchise dealers in the United States. ACV grew its franchise dealer base over 400 percent from the 64 markets entered. ACV continues to outperform its market expansion goals. This summer alone, the company starting doing business in Dallas, Houston, San Antonio, Austin, New Orleans, Shreveport, Oklahoma City, Tulsa, Wichita, Kansas City, Little Rock and St. Louis. ACV continues to move westward and plans to be in Colorado, Utah, Arizona and California by year-end, achieving coast-to-coast coverage. “I know the challenges that used-car dealers face sourcing inventory,” said Joe Neiman, a former dealer and founder of ACV Auctions. “Our extensive condition reports give buyers the completely transparent information they need to make informed decisions about vehicles they are interested in purchasing regardless of their distance from the seller. Our relentless focus on buyers has made ACV Auctions the best place to buy a wholesale vehicle.” For more information on ACV Auctions, visit acvauctions.com or @ACVAuctions on Twitter. About ACV Auctions ACV is an online, wholesale vehicle auctioning platform that provides franchise and used-car dealerships an efficient and more effective method of buying and selling wholesale vehicles through individual, 20-minute auctions. Its technology modernizes the entire arc of auction operations, including account management, title management, floor plan purchasing, arbitration and facilitating logistics. The company strives to be the most trusted source in the industry for dealers to buy and sell wholesale vehicles. To learn more, visit www.acvauctions.com .
Auto Dealership Buy/Sell Market Picks Up Steam: 2018 On Track for 5th Year of 200+ Acquisitions, According to The Blue Sky Report by Kerrigan Advisors

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Irvine, CA — August 29, 2018 — The new tax law and improved economies of scale and scope are among the trends driving a robust Buy/Sell market in Q2, after a slow start to the year, according to The Blue Sky Report’s Second Quarter Report released by Kerrigan Advisors. Seventy-five transactions were completed in Q2, a 92% increase over Q1. With consolidators and publicly traded auto retailers seeing increased earnings as a result of these factors, profitability at dealerships holding steady, and dealerships embracing innovative, profit-driving business models, Kerrigan Advisors predicts that 2018 will mark the fifth consecutive year to see over 200 transactions. “We estimate one in eight dealerships have changed hands since 2014 and we believe increasing consolidation means this number will only increase,” said Erin Kerrigan, managing director of Kerrigan Advisors. “Consolidators are leveraging significant opportunities to increase earnings with accretive acquisitions by achieving economies of scale and scope post-transaction.” “Consolidators are finding new ways to grow earnings by employing technology and streamlining their business models, changing their selling systems and introducing new products across their platforms, while the ‘to-be-consolidated’ are squeezing more profit out of their existing business models. And both are being positively impacted by reduced taxes as a result of tax reform,” added Ryan Kerrigan, managing director of Kerrigan Advisors. The Kerrigans, however, did note that while blue sky values remained high in Q2, they were below 2017 levels, partly as a result of rising interest rates and floor plan cost increases. But, despite a plateauing SAAR, The Kerrigan Index™, which tracks publicly-traded auto retail companies, continues to rise — indicating that Wall Street believes that scale matters and that anticipated disruptions to auto retail will disproportionately benefit the largest dealership groups. “There is little doubt that size will be a key driver for future success in auto retail,” added Ryan Kerrigan. The Blue Sky Report, published by Kerrigan Advisors, is the auto industry's most comprehensive and authoritative quarterly report on dealership M&A activity, as well as franchise values. It includes analysis of all transaction activity for the quarter, and lays out the high, average and low blue sky multiples for each franchise in luxury and non-luxury segments. Key highlights from the Blue Sky Report Q2 Report 114 dealership buy/sell transactions were completed in the first half of 2018, compares to 101 transactions in the first half of 2017. The number of franchises sold rose 22% over the first half of 2017. The number of multi-dealership transactions increased to 33 during the first half of 2018, versus 23 in the first half of 2017. Domestics maintained their leading position, followed by import non-luxury franchises and import luxury franchises. The publics are tracking towards nearly $1 billion of US acquisition spending in 2018, a level that would surpass all prior years, except 2014 when Lithia Motors acquired DCH Auto Group. Private dealership groups continue to represent the largest share of dealership acquirers. Only 22 of the estimated 192 franchises that changed hands in the first half of the year, were acquired by public companies. Dealership rents rose as compared to 2017, creating concern: the average dealer now has a rent to gross profit of 11.2%, a 3.7% rise over the 2017 ratio. Key trends The Q2 Report outlines three key trends that Kerrigan Advisors anticipate will have a significant impact on the buy/sell market for the remainder of 2018 and into 2019 Consolidators focus on geographic concentration Successful business models command higher blue sky values Expense reduction becomes a major consolidation driver In addition to expense reduction and a focus on geographic concentration, the report emphasizes the importance of successful and innovative business models to increased valuations, citing the recent sale of Wilsonville Toyota and Wilsonville Subaru, both of which effectively utilized a no-negotiation sales model, resulting in profitability far higher than industry standards. “Buyers of dealerships today are students of auto retail. Most spend their days and nights thinking of ways to enhance their business’ profitability and strategically drive earnings growth,” said Erin Kerrigan. “Acquisition opportunities that provide an expanding group with new strategies to grow earnings will command a premium in today’s buy/sell market.” Kerrigan Advisors monitors conditions in the buy/sell market and publishes an in-depth analysis each quarter in The Blue Sky Report® which includes Kerrigan Advisors’ signature blue sky charts, multiples, and analysis for each franchise in the luxury and non-luxury segments. To download the report, click here . The company also releases monthly The Kerrigan Index™ composed of the seven publicly traded auto retail companies with operations focused on the US market. The Kerrigan Auto Retail Index is designed to track dealership valuation trends, while also providing key insights into factors influencing auto retail. To access The Kerrigan Index™, click here . Erin Kerrigan is Founder and Managing Director of Kerrigan Advisors, and is a recognized industry expert on dealership valuation, real estate and buy/sells. A sought-after commentator on automotive retailing topics ranging from consumer auto buying trends to auto retail consolidation to private equity in auto retail, she has keynoted numerous automotive conferences and her analysis has appeared in publications such as Automotive News , CNBC.com, and the Wall Street Journal . For a recent video of Erin’s commentary on the market, click here . Ryan Kerrigan is Managing Director of Kerrigan Advisors and an expert on US auto retail buy-sell transaction work. Prior, Ryan served as Managing Director at Serent Capital, a $250mm private equity fund investing in middle market companies and served as General Manager of the family’s auto dealership. Mr. Kerrigan began his career as a management consultant at McKinsey & Company, where he advised Fortune 500 companies on growth strategies, organizational issues, pricing and business valuation. About Kerrigan Advisors Kerrigan Advisors is the leading dealership buy/sell advisory firm focused on providing a high level of client service for dealership sellers nationwide. Led by a team of veteran advisors, Kerrigan Advisors customizes each sale process to maximize the seller’s transaction proceeds. The firm has sold 72 dealerships since 2015, including five of the Top 100 Dealership Groups in the U.S. With the most comprehensive buyer database in the industry, Kerrigan Advisors has the industry context and expertise to match every seller with the right buyer. In addition to Kerrigan Advisors’ sell-side transaction work, the firm also provides a suite of consulting services including accounting preparation for sale, litigation support, open point applications and transactional due diligence. In addition to the monthly Kerrigan Auto Retail Index, each quarter, Kerrigan Advisors publishes The Blue Sky Report ® , a Kerrigan Quarterly, which is the auto industry's most comprehensive and authoritative quarterly report and analysis of dealership buy/sell activity and franchise values. Kerrigan Advisors’ Managing Director, Erin Kerrigan, is a recognized industry expert on dealership valuation, real estate, and buy/sells, and is a frequent speaker at leading auto retail events and conferences, including NADA, JD Power Automotive Roundtable, AICPA, NADC, and Driving Sales’ President’s Club. She has also been a keynote speaker for events hosted by American Honda Motor Company, Audi of America, US Trust, Ohio Automobile Dealer Association, and SunTrust Bank and has led webinars for NADA and Automotive News. Kerrigan Advisors’ Managing Director Ryan Kerrigan is also a sought-after industry expert. He is featured in a monthly column for Dealer Magazine and has written Op-Eds for Automotive News, among other outlets. Kerrigan Advisors Media Contact Melanie Webber, 424.603.4340, melanie@mwebbcom.com , mWEBB Communications
Substantial Growth in Automotive and Transportation Segments Drive 1H ’18 Spireon Results

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Irvine, CA — August 22, 2018 — Spireon, the vehicle intelligence company, experienced substantial growth in both Automotive and Transportation sectors, and achieved a number of corporate milestones in the first half of 2018. Product innovation, white-glove customer service and key industry partnerships contributed to increases in revenue, active subscriptions and customer service metrics. Key results include: 73 new franchise dealer customers signed in the first half of 2018, fueling 65 percent increase in device shipments versus 1H 2017 36 percent increase in revenues from trailer segment as Company exceeds 200,000 trailer telematics subscribers 45 percent increase in device shipments to SMB fleet market year over year Company achieves NPS score of 71, compared to 21.4 industry average for B2B tech firms “Results for the first half of 2018 show market demand remains extremely strong for our best-in-class connected vehicle solutions,” said Kevin Weiss, Spireon CEO. “Across the core markets we serve — auto dealerships, transportation companies and local fleets — a growing number of customers and partners are selecting Spireon based on the quality of our products and outstanding customer service. We have made significant investments to scale the business and those investments are paying off.” 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 for 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 meaningful profit for dealers while delivering compelling 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. The company continues to innovate and grow market share in the subprime sector as well, with device shipments to Buy Here Pay Here (BHPH) dealers growing 4 percent year over year. In June, Spireon released Quick Locate, a new feature for its GoldStar solution that provides dealers and lenders with instant visibility to vehicle location and status. GoldStar customers remain extremely loyal, with an average customer rating of 8.9 out of 10, and 94 percent likely to recommend GoldStar , according to a TechValidate survey of BHPH dealers published in March. A leader in the trailer management space, Spireon achieved a significant milestone surpassing 200,000 trailer telematics subscribers for its FleetLocate asset and trailer intelligence solution. The rapid growth of Spireon’s market share in the trailer segment is due in part to continued innovations that streamline operations and increase profitability for customers. In the first half of 2018, the company introduced FL Flex, the industry’s first modular trailer tracker designed for mixed fleets. The compact, power-efficient tracker can be configured with a wide range of sensors, such as the new FleetLocate Cargo Sensor with patent-pending IntelliScan sensing technology, announced in early July. 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. Partnerships with leading brands and resellers extended the reach of Spireon fleet solutions, and included: GM — Spireon launched their FleetLocate Connected by OnStar solution in mid-2017, enabling customers with OnStar-equipped GM vehicles to gain instant access to the FleetLocate platform without added costs or installation time associated with aftermarket devices. In 1H 2018, the company achieved 27 percent growth in activations versus 2H 2017 Ford Commercial Solutions — In June, Spireon partnered with Ford Commercial Solutions for FleetLocate to access data through Ford’s Transportation Mobility Cloud. As a result, fleet operators with Ford vehicles will be able to utilize FleetLocate with no aftermarket hardware required FleetLocate Resellers — In 1H 2018, Spireon experienced 53 percent growth in fleet channel revenue from its largest reseller partner, and 73 percent increase in active subscriptions year over year. Overall, device shipments through the Company’s reseller channel have increased by 39 percent versus 1H 2017 Spireon improved its Net Promoter Score (NPS), a key measure of customer satisfaction and loyalty, to 71, far surpassing the industry average of 21.4 for business-to-business technology companies. Reinforcing the company’s commitment to outstanding service and support, Rashid Ismail joined the company in March as senior vice president of customer success. Ongoing third-party recognition continued to underscore the excellence of Spireon’s service, support and technology. Awards won in the first half of 2018 include: Stevie ® Awards for Sales & Customer Service — Silver Award for Customer Service Department of the Year in the 2018 Compass Intelligence Awards — IoT Vehicle Telematics Company of the Year in 2018 American Business Awards — Silver Award for Spireon’s NSpire version 3.0 IoT platform in the New Product of the Year category “The Spireon team continues to raise the bar on achieving key business metrics — whether that is devices shipped, revenue, new customers or NPS scores — which is not an easy feat when looking at the company’s substantial transformation in recent years,” added Weiss. “Our unrivaled commitment to customer service, aggressive technology roadmaps and thriving partnerships have set us up for a strong finish to 2018.” About Spireon Spireon, Inc. is North America’s leading connected vehicle intelligence company, providing businesses and consumers with powerful insights to track, manage and protect their most valuable mobile assets. The award-winning Spireon NSpire platform supports nearly 4 million active subscribers across the company’s growing suite of products for new and used car dealers, lenders and financial institutions, rental car agencies, commercial and local fleet operators, and consumers. Learn more at www.spireon.com . Media Contact Collin Trotter, Business Technology, Havas Formula, 619-234-0345,  havasformula.com