P2P Transport is an integrated fleet management company focused on the provision of vehicles on a rental basis to independent professional drivers in the point-to-point passenger transport industry.
The Company’s rapidly growing fleet comprises approximately 720 taxi, corporate and ride-share vehicles managed from 8 sites situated in Victoria (Melbourne), NSW (Sydney) and Queensland (Brisbane, Gold Coast and Toowoomba), position the Company as one of the largest fleet management operators of its kind in Australia.
The Company’s business model comprises end-to-end fleet management capabilities extending from vehicle acquisition and in-house customization, vehicle servicing and driver support (including repairs and maintenance, and 24-hour operational support), and fleet management and administration (including driver training and on-site services). In the case of P2P Transport’s taxi fleet, the Company engages with third party network providers and taxi plate owners to provide drivers with fully equipped and registered vehicles.
P2P Transport’s fleet includes a range of passenger vehicles which service all segments of the point-to-point passenger transport industry:
Taxis: 1055 customised (fully equipped and registered) taxis. The Company is one of the largest owners of taxis in each of Victoria (3.8% market share), NSW (5.4% market share) and Queensland (10.5% market share);
Corporate: 10 luxury vehicles, currently only in Victoria and NSW; and
Ride-share: 15 vehicles (largely unmodified) currently only in Victoria and NSW.
P2P Transport’s large and growing fleet size, integrated business model and east-coast reach positions the Company to further expand its market share in existing geographies and to enter new geographies, delivering ongoing scale benefits and platform opportunities. As part of the Company’s future growth strategy, P2P Transport will also expand its offering to incorporate a range of ancillary services (including a partly owned mobile based ride-hailing application (currently in soft-launch) and proprietary on-vehicle digital marketing initiatives), intended to enhance the experience and services provided to the Company’s customers, and diversify its revenue streams. The point-to-point passenger transport industry is evolving with the emergence of ride-sharing platforms. While the ride-sharing segment currently represents a comparatively small component of the overall point-to-point industry, it is growing rapidly relative to the other industry segments. To gain exposure to this segment, P2P Transport recently launched its ride-share offering under the “meego” brand.
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