Fleet Logistics, an independent European fleet management provider, said it has seen the size of its contracted fleet reach 137,000 vehicles, a new record and well ahead of the company’s ambitious growth target for 2014, due largely to new European business from U.S.-based companies.

Fleet Logistics, which was acquired by global certification giant, TÜV SÜD Group in 2012, is targeting a fleet size of 145,000 units by the end of this year, along with an enhanced product range and increased country scope, according to the company.

The company said it now looks well set to easily beat its target for the year as there are almost five months remaining, as strong interest from both new and existing customers has fueled growth at a faster than expected rate.

At the same time, Fleet Logistics has expanded into several Eastern European countries and is scheduled to go live in Turkey in late August. However, well-advanced plans for a new venture in Israel have been put on hold temporarily because of the current conflict in the Gaza Strip, according to the company.
Fleet Logistics CEO Rainer Laber said that the growth in the contracted fleet was coming from both existing and new customers, and that those in the U.S. with global businesses, including a strong presence in Europe, made up the largest proportion.

“We are currently seeing around 60-70 percent of our growth coming from American companies with global businesses in a variety of industry sectors, including pharmaceutical, IT, food and drink, and engineering,” Laber said. “It is increasingly obvious that we have become very attractive to American customers as we have an extensive European network and knowledge on both the automotive and leasing sides of the market. And, for companies that have extensive fleets outside of their American homeland, we are now the number one choice. They see the European market as one which is very complex with a host of different rules on tax, legal and financial issues but it is one where we are the local experts.”