Fleet Advantage announced several milestones achieved over the last 12 months, including a stellar business performance where it exceeded over $760 million in lease originations. The company now totals $2.4 billion in assets under management and serves as the largest independent lessor for heavy-duty Class-8 trucks. The company has now purchased, financed, managed, and disposed of over 30,000 Class 8 vehicles with a current fleet size over 19,000.
New Leadership Entering 2023
Fleet Advantage enters 2023 with an eye toward a new chapter under the leadership of Brian Holland, who previously served as the company’s President and Chief Financial Officer, succeeding John Flynn who announced his retirement in December. Flynn’s legacy will live on for many years, especially with his plans for a scholarship program for children to enter occupations in the truck and transportation industry. Through an annual donation toward education and curriculum, Flynn will launch the John J. Flynn Scholarship Program later in 2023.
Continued Focus on Business Agility and Flexibility
During 2022, Fleet Advantage placed a significant emphasis on helping its portfolio of corporate transportation fleets remain nimble and agile in their business operations due to the persistently changing economic climate. The company continued to boast the use of innovative, advanced data analytics and Fleet Modernization studies to help inject more flexibility into its clients’ operations, while helping them pay closer attention to their truck’s Life Cycles to understand where they can save money by optimizing and shortening replacement cycles. This has resulted in a significant increase in customer satisfaction levels, along with the adoption of flexible leasing and shorter life cycles. This focus Life Cycle Cost Management (LCCM) has also enabled Fleet Advantage to ensure that 98 percent of its trucks are equipped with the latest safety features and technology.
Focusing on Bridging to Alternate Fuel Technologies
Fleet Advantage has continued to work with its portfolio of clients on a realistic bridge between today’s clean-diesel technology into tomorrow’s alternate fuel options by leading with an appropriate roadmap for corporate environmental, social, governance (ESG) initiatives. Over the last 12 months the company announced a new program that helps corporate truck fleets certify their greenhouse gas emissions (GHG) output, that would be mandated under a proposed rule issued by the Securities and Exchange Commission (SEC). It also recently announced it will be placing orders for 200 – EV Class 8 tractors for deliveries commencing in calendar year 2023. Additionally, Fleet Advantage has equipped several clients with electric yard tractors, as well as electric trailers for certain applications. With Fleet Advantage’s help, companies have vastly improved their environmental footprint by reducing CO2 emissions by over 1,000,000 metric tons.
Strong Emphasis on Serving Local Communities
Through Fleet Advantage’s Kids Around The Corner program, the company made significant charitable donations to 18 organizations in 2022. In addition to well-deserving local organizations, Fleet Advantage partnered with GP Transco and became part of the Trucking and Logistics Partners for Ukraine. GP Transco and Fleet Advantage were both recognized as 2022 Humanitarian Logistics Award Winners. The company also partnered with truckersfinalmile.org for a second year and became the official sponsor of the program with a contribution that helps secure a total of twenty (20) college education savings accounts to help children that experience a loss of a parent truck driver out on the road and away from home. Finally, the Fleet Advantage team came together and collected supplies to assist in the Hurricane Ian Disaster Relief efforts.
“I could not be more proud of our team, whether it’s serving our corporate partners or individual communities with important causes, we have the most dedicated and committed staff in the industry,” said Holland. “The economic challenges look to remain ahead of us in 2023, but we are equipped with the most advanced analytics, innovative data-driven insights, and flexible solutions available in the transportation industry to help our partners remain agile in running their businesses with the lowest possible operating costs. We are grateful that our clients continue to choose Fleet Advantage as their trusted advisor.”