MEXICO CITY and IRVINE, Calif., Jan. 28, 2020 /PRNewswire/ -- CalAmp (Nasdaq: CAMP), a technology solutions pioneer transforming the mobile connected economy, today announced its subsidiary, LoJack México, is teaming with Volkswagen Financial Services México (VWFS) to enrich its Full-Service Leasing offerings with real-time vehicle tracking, diagnostics and driver behavior insights. Over the coming year, LoJack México's state-of-the-art telematics will be installed in select light, heavy-duty, and long haul trucks and buses leased through more than 300 VWFS clients across Mexico. These new features will enable fleet managers to increase operational efficiencies, minimize the risk of theft and improve driver safety when leasing vehicles through VWFS.
Despite a road network of approximately 378,923 km, Mexico lacks sufficient road infrastructure that often expose vehicles and the goods they carry to delivery delays, spoilage and theft. In addition, widespread traffic congestion generates greater fuel consumption that raises the cost of transportation and leads to higher prices for products and services.
To address these pervasive issues, LoJack México developed a customized cloud-based, fleet management platform that captures diagnostic and driver behavior data from LoJack's telematics device installed in VWFS leased vehicles and directly uploads it into VWFS' Miles fleet mobility platform. LoJack México's telematics solution also delivers real-time vehicle location to optimize intelligent fleet routing, thus avoiding road congestion and minimizing the potential for theft due to unauthorized route changes.
"Our objective with Full Service Leasing is to go from Total Cost of Ownership to a Total Cost of Mobility and achieve a placement of 15,000 contracts in the years ahead," says Manuel Davila Rivas, VWFS Executive Director. "LoJack México's intelligent telematics solution brings valuable insights that help us provide the best and most simplified corporate fleet mobility solutions in Mexico."
The LoJack México platform enables customized alerts and over 30 reports including excessive speeding and driver score ranking, allowing fleet managers to properly train against unsafe driving habits. Vehicle diagnostic and hours-of-use reports also improve maintenance and overall productivity. A dashboard of all these insights is easily accessible on any desktop or mobile device.
"The challenges in transportation infrastructure in Mexico not only increase the risk of theft and road safety but can also directly impact business operations and the cost of goods. The custom telematics platform we developed with VWFS addresses these challenges by improving fleet efficiency and reducing transportation costs," said David Román, general director of LoJack México. "This project represents LoJack's commitment to minimize auto theft while building on our relationships with Volkswagen and its affiliates."
About VWFS México
Volkswagen Financial Services México is a Volkswagen Financial Services AG subsidiary that includes Volkswagen Leasing, S.A. de C.V., Volkswagen Bank, Institución de Banca Múltiple S.A., and Volkswagen Servicios, S.A. de C.V. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers for Volkswagen, SEAT, Audi, Ducati, Porsche, MAN, Scania, Das Welt Auto and Volkswagen Vehículos Comerciales brands. Volkswagen Financial Services reported total assets of around 207.6 billion Euros, with an operating result of 2.61 billion Euros; as well as a portfolio of around 20.3 million active contracts (as of December 31, 2018). For more information visit vwfs.mx
About LoJack México
Car Track S.A. de CV, dba LoJack México, a CalAmp subsidiary, is a market leader in stolen vehicle recovery and innovative automotive services in Mexico and across Latin America, helping recover more than ₱3.5 million in assets. We have been active in Mexico for over 20 years and are undergoing a strong growth phase with more than 210,000 software and service subscribers. Today, LoJack México is leveraging CalAmp's telematics technology and software services to create a new level of value for the automotive, insurance, and car rental markets and their end-customers, through easily accessible, innovative connected-vehicle solutions. For more information, visit lojack.com.mx or LinkedIn, Twitter, Facebook, YouTube, or LoJack Blog.
About LoJack and CalAmp
LoJack is a brand of CalAmp (Nasdaq: CAMP), and a leader in stolen vehicle recovery and innovative automotive services. CalAmp is a global technology solutions pioneer transforming the mobile connected economy. We help reinvent business and improve lives around the globe with technology solutions that streamline complex mobile IoT deployments and bring intelligence to the edge. Our software and subscription-based services, scalable cloud platform and intelligent devices collect and assess business-critical data from mobile assets and their contents. We call this The New How, facilitating efficient decision making, optimizing mobile asset utilization and improving road safety. Headquartered in Irvine, California, CalAmp has been publicly traded since 1983 and has 20 million products installed and over 1.3 million software and services subscribers worldwide. LoJack®, Tracker™ and Here Comes The Bus® are CalAmp brands. For more information, visit calamp.com, or LinkedIn, Facebook, Twitter, YouTube or CalAmp Blog.
CalAmp, LoJack and the CalAmp and LoJack logos are among the trademarks of CalAmp, LoJack and/or their affiliates in the United States, certain other countries, and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.
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