Meridian has appointed Russell Brooke as its first ever remarketing manager, in response to increasing its fleet to 400 units.
Brooke (pictured) has extensive experience across the remarketing and rental sectors, having been remarketing manager at Moneybarn, fleet remarketing manager at Hertz UK and vehicle remarketing manager at HPI.
Phil Jerome, managing director at Meridian explained that his company now has more than 250 cars on rental at any one time and plans to increase its overall fleet to 400 units during 2018, so needs increased remarketing expertise.
Jerome said: “So far, we have handled most of our remarketing through a relatively small number of channels, including a group of franchise dealers and carefully selected auctions.
“However, we are now reaching a size where we require a broader and more informed approach. Russell has huge experience across the sector and we are very pleased to welcome him as part of our team.”
Meridian acts as a supplier to major leasing companies, essentially acting as a sub-contractor offering semi-prestige and prestige vehicles on a 3-6 month basis. Pricing is slightly higher than a standard three or four year lease but much cheaper than daily rental.
Brooke said: “Meridian’s business model provides an ongoing stream of nearly-new cars that are well-equipped and in excellent condition, so there is high level of potential demand.
“We are already starting to have conversations with a wide range of disposal channels, ready to handle the increased stock levels that we expect to see throughout 2018.”