Selected by CIO Review as one of the Top 20 Most Promising Automotive Tech Solution Providers in 2014.
And Ships Its 3,000,000th Device
Knoxville, TN, May 20, 2013 — Spireon, the leading innovator of Mobile Resource Management (MRM) and Business Intelligence Solutions that connect companies to their mobile assets and workforces, announced record-breaking sales for the first quarter of the year, adding double digit growth in revenue and units as compared to the same quarter last year. Spireon’s milestones for the quarter included breaking their highest all time number of activations in the company’s 10-year history and shipping its 3,000,000th device.
Spireon’s leadership attributes the record growth and sales to the company’s substantial investment in product innovation, its road-tested and patented GPS technologies, cost-effective pricing models built on easy-to-use Software-as-a-Service tools, its customer comes first focus, and the endorsement and partnership of NFL Hall of Famer and NASCAR championship team owner, Coach Joe Gibbs. Coach Gibbs is Spireon’s official spokesperson as well as an active user of the company’s products.
Spireon’s innovation in technology, scalable distribution, its service and people has positioned the company as not only the fastest growing multi-vertical MRM provider in the fleet and transportation markets, but continues to reaffirm and anchor its position as the industry leader in the automotive finance space, supporting a high demand for its GoldStar GPS and LoanPlus CMS solutions. Growing at a rate of over 100%, the company shipped over twice as many devices to the local fleet market, more than doubled their total subscribers in transportation and expanded its shipments to lenders by nearly 50% as compared to a year ago.
“We are seeing a convergence of market factors unlike any before in the automotive finance industry,” says Spireon’s CEO, Brian Boling. “A remarkable percentage of customers are coming into dealerships with low FICO scores as a result of the recent economic crisis. At the same time, more and more lenders and dealers are approving ever-deeper subprime auto loans with longer terms and lower down payments.”
Boling goes on to explain that the automotive finance industry has also become increasingly competitive, with growing demand for higher-value used vehicles compounded by a limited inventory. “Combined, these factors are propelling the industry into a dynamic that could be considered a Perfect Storm,” Boling adds. “BHPH dealers and the automotive finance industry must be prepared in the event the industry moves into a another cycle. They must have a strategy in place for today, with an eye to whatever tomorrow may bring. One that protects vehicle assets and mitigates risk while allowing them to continue to serve a broad range of customers and stay competitive. More and more dealers are making Spireon a part of this strategy.”
Through these shifts in the automotive finance industry, Spireon continues to see sales of its GPS vehicle tracking solutions soar. Customer demand for the company’s new embedded device, the Talon, has surpassed expectations. Within the first 90-days of its release, the company shipped over 250,000 units, setting a new record for a product introduction. Leading members of the automotive finance industry are overwhelmingly choosing GoldStar GPS and the Talon to help them mitigate risk while expanding their loan portfolios.
To meet the increase in demand for its solutions, Spireon has invested heavily in the expansion of its warehouse, doubling its capacity for provisioning and inventory, tripling its customer support team, establishing a dedicated order desk and hotline, and is continuing to roll out new customer focused programs and services to support the growing needs of its market.
Brad Jarvis, Spireon’s CMO said, “We’ve been actively asking our Buy Here, Pay Here customers what they want and need in a GPS-based vehicle tracking and collateral management solution. We’ve been listening carefully and are incorporating that feedback into our future product strategies. In the months ahead, we’ll be launching new programs and services as well as strategic alliances that will further solidify Spireon’s position as a leader in the automotive industry.”
Spireon’s CEO Brian Boling, CMO Brad Jarvis, Executive Vice President David Meyer and Director of Product Management Stefana Houldsworth will be on hand during the NABD Conference on May 21 – 23rd to discuss Spireon’s value proposition and vision for the rapidly evolving automotive finance market. For more information, stop by the GoldStar GPS booth #411.
About Spireon’s Automotive Solutions Group
Spireon, the largest provider of automotive aftermarket embedded telematics, provides a wide range of automotive business intelligence solutions. Spireon’s GoldStar GPS, and LoanPlus CMS automotive dealers and lenders to real-time vehicle information they need to expand their auto loan portfolios and provide financing for a broader range of customers. The real-time rich data also helps protect vehicle assets, reduce risk, decrease costs to drive the bottom line while also providing positive consumer impact.
Learn more about vehicle finance solutions visit GoldStarGPS.com.
Spireon, Inc., is at the summit of business intelligence and committed to going higher. With its technology center in Irvine, CA and its corporate headquarters in Knoxville, TN, the company emerged in 2011 as the industry leading Mobile Resource Management (MRM) company as a result of the merger of ProconGPS, Inc. with EnfoTrace and PFS, LLC, the top three providers in the MRM space. Spireon connects companies to their mobile assets and workforce through game changing information platforms, giving them the power to manage actionable business intelligence. Its trusted brands include market share leader GoldStar GPS®, EnfoTrace GPS™, FleetLocate®, VehiclePath™ and LoanPlus CMS™. Inspiring companies to reach new heights with powerful Software-as-a-Service (SaaS) based tools; Spireon provides a sturdy foundation on which to optimize performance.
With leading market positions in the fleet, transportation and automotive telematics markets, Spireon, Inc. specializes in developing strong business relationships with leading companies worldwide, enabling it to offer affordable world-class risk mitigation, mobile resource management and location based services to its customers.
For additional information, please visit Spireon, Inc.’s website http://www.spireon.com.