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iCrowdNewswire Oct 28, 2020 1:42 PM ET

BoxVn Set to Commence a Major Fleet Expansion


BoxVn Set to Commence a Major Fleet Expansion

iCrowd Newswire - Oct 28, 2020

BoxVn Limited, an emerging leader in the fast-growing Driver and Light Commercial Vehicle (LCV) supply segment of the logistics industry, announced today that it plans to expand its fleet vehicles by 20% by year end in order to meet the expected uptick in demand for delivery vehicles. Once the expansion is complete, the Company will reach more than 600 vehicles on the road, of which more than two thirds are vehicles with a short wheel base. 

Demand Levels Expected to Remain Permanent

The BoxVn fleet expansion supports the company’s mission to continue to meet the growing needs of the logistics market sector by providing a critical one-stop service, alongside our focused customer service, which in turn allows our business partners to grow and further expand their market share.   This fleet expansion was driven by the need to respond to the developing needs of the growing retail and logistics sectors in response to the Covid-19 pandemic. Earlier this year, demand for vehicles outstripped supply causing major logistics issues. By being proactive, BoxVn is prepared to offer the supply required by our partners to drive their businesses forward. 

The Covid-19 pandemic has proven beyond doubt the importance of the online retail and logistics sectors, and has expedited the behavioural shift in shopping habits. In the absence of traditional retail stores, online retail enjoyed growth of 30% in April 2020 alone. While some of the growth could be attributed to the public’s short-term reaction to the pandemic, industry pundits have predicted that a sales demand and growth are likely to be permanent.

BoxVn Financing the New Vehicles

Given the ongoing e-commerce expansion favorably impacting BoxVn’s business, the Company recently began negotiating with multiple finance partners to give BoxVn various platforms with which to sustain its ongoing growth. Across the 6 confirmed finance partners the initial purchase of 100 new vehicles will start to meet the shortfall of the ever-increasing demand.

James Gilzean, BoxVn CEO, said: “As the UK government announces more precautionary measures against the spread of coronavirus it’s now more important than ever to ensure the sector has enough vehicles to meet with compressed growth. BoxVn is proud to play a critical role in this process.”

About BoxVn Limited
BoxVn Limited started as a small recruitment business and quickly evolved into a driver and Light Commercial Vehicle (LCV) supply business offering services so unique that it has revolutionized flexible vehicle supply, unemployment and the driver recruitment life cycle to provide a dependable and integral service to one of the biggest and fastest growing sectors in the world, Our core business is the supply of Light Commercial Vehicles to logistics businesses on a flexible and medium-term basis, and is designed to serve logistics businesses and drivers first with a non-traditional approach offering a high-level of service at an affordable price point. For more information, please visit www.boxvn.co.uk.

Contact Information:
     
For the Company
James Gilzean
CEO    
jg@boxvn.co.uk
+44 (0) 203 553 5353
  For Investor Relations
Stan Wunderlich
Launchpad IR
swunderlich@cfsg1.com
1-800-625-2236

Contact Information:

For Investor Relations
Stan Wunderlich
Launchpad IR
swunderlich@cfsg1.com
1-800-625-2236








Tags:    Wire, Disclosure Newswire, United Kingdom, English