“The Coyote brand remains known in France, but is it for the right reasons? », asks Stéphane Curtelin, the marketing director of the French company, two days before the company’s announcement of its roadmap for the coming months, Thursday June 27. On the program, improvements to its products (visual and sound design, improvement of road alerts). While the company founded in 2005, which originally promised motorists, among other things, to avoid being flashed on the roads of France, is preparing to celebrate its 20th anniversary, it is no longer quite the same.
This is evidenced by its latest financial results that it presented. For the year 2023, 40% of its 150 million turnover comes from its new activity “Coyote Secure”, launched in 2018, which offers its users the opportunity to subscribe to a program (15 euros per month) allowing them to help them find their vehicle if it has been stolen. “In 91% of cases, we are able to find them within forty-eight hours”explains Mr. Curtelin. In 2023, only 25% to 30% of its income came from this activity.
To achieve this result, the French company has developed boxes equipped with various communication technologies to protect against the precautions taken by thieves (jamming, hiding vehicles in basements, containers, etc.) but is also recruiting detectives to guarantee his promise. Coyote does not communicate on the number of these professionals it employs, nor on the number of customers who have subscribed to its service, but it assures that in 2023 it has made it possible to recover a total value of vehicles of 45 million euros.
Competing on its core business
This new segment of activity was made possible by the acquisition of the French company Traqueur in February 2018. The boxes which guarantee this service are assembled in Normandy. Over the year 2023, 100,000 new trackers will have been installed through 1,200 car dealerships, chains such as Carglass or insurance companies (GMF, Generali, Gan, Axa, MAAF, etc.). The contract first offered in France is now available in Belgium and Spain.
Faced with fierce competition in its core business where free solutions have multiplied – Waze, Maps (Google), Plans (Apple) – this development lever is a boon for Coyote, even if the majority of its customers focuses on its driving assistance solutions with more than 5 million users in Europe – 1 million of whom are not limited to the application, but have also purchased a specific box (from 79 to 149 euros).
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