Toll Group talk – trust the quarterly update and M&A rumours?
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Oct 18th, 2024
Toll Group has announced plans to invest $200 million [US$134m] in new vehicles as part of its ongoing commitment to Australian customers.
The investment will see 25 per cent of the company’s Australian fleet renewed, with the introduction of nearly 400 Euro 6 standard prime movers and 20 rigid vehicles.
The fleet renewal investment is in partnership with Penske, Volvo Group Australia, and Isuzu.
Toll General Manager, Global Fleet Management, Mr Shaun O’Flaherty, stated that this investment will drive improvements in emissions, efficiency, safety, and driver comfort.
“Our new fleet will feature the latest Euro 6 engines and improved fuel efficiency which is expected to reduce emissions by five to ten per cent. The new vehicles are automatic, with advanced in-cabin ergonomics and safety features including adaptive cruise control, lane departure warnings, driver fatigue cameras, and onboard telematics that enhance the overall driver experience.”
The vehicles are set to be delivered from [October 2024]. Toll plans further investment in fleet renewal to operations across Asia.
This fleet upgrade supports Toll’s sustainability strategy to decrease the Company’s carbon footprint through electrification of fleet, the use of green hydrogen and alternative fuels, and designing sustainable and efficient facilities.
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chris dunphy
October 21, 2024 at 12:48 pmA leased fleet for a business heaving under the weight of PE ownership & significant accumulated losses with no end in sight.