The mandate would be icing on the cake. The origional intent of the company was to target foreign markets. That is were they set up the early efforts.
Sales Focus
NavStar’s initial sales focus is concentrated in four geographic areas, US, Canada, Mexico and South America. With insurance in South America and Mexico unobtainable or too expensive to justify, many operators in “at risk” countries have elected to harness the power of wireless, location-based technology to better
monitor their valuable assets and high-value cargo while improving efficiencies and increasing the likelihood of asset recovery when faced with potential loss. US and Canada trucking companies are under pressure for productive and efficiency
improvements. A huge new market has opened up with the April 2010 requirement from the Federal Motor Carriers Safety Administration that requires US trucks to migrate toward Electronic Onboard Recorders (EOBR)….NavStar has an affordable solution for all of these needs.Market Opportunity
NavStar will direct its sales efforts toward addressing the unique demands of the US and Canadian trucking, delivery and services industries. In addition, the Company will target markets in regions where competition is thin or non-existent and where risky environments create the greatest need (i.e. Mexico and South America) for asset-tracking solutions. There are 10 to 12 million fleet vehicles in Latin America. Brazil (4.3M) and Mexico (2.0M) are the two countries with the largest number of fleet vehicles.
Today only 10% of the fleet vehicles in the US have vehicle/assettracking devices installed. In countries outside the US the penetration rate is 5% to 8%. Vehicle/asset tracking is a $3.0B business worldwide at today’s meager penetration rates. By 2011, it is expected to grow to $5.0B. Also, the Company will participate in the growth of the personal tracking and monitoring market segment as it unfolds in 2011 and 2012. NavStar estimates that 50% of its unit sales in the next 5 years will be from Latin American countries. This represents ½ of 1% of the vehicles in Latin America. There is a huge upside in the current financial projections. It is important to note that there are literally millions of vehicles in service in “at-risk” geographies that (historically) have not had access to asset tracking technology, either because adequate network connectivity is unavailable and/or because vendors have a limited sales presence in
these same areas. Such countries comprise the greatest opportunities for NavStar to penetrate the marketplace and establish a leadership position.
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