Merchants will continue to operate independently. The members of the Merchants leadership team will remain in their current roles and will be co-investors in the business.
The Northern California operation is recognized for setting a standard of excellence for the auction industry.
Merchants Fleet is expanding capacity for its in-demand commercial vehicle remarketing services and has hired Jesse Hopperstad as a remarketing sales manager, where he will be responsible for assisting new and existing Merchants Fleet clients in the Western half of the country with remarketing their vehicles.
Fleet data collected in 2019 found that depreciation expenses for most vehicles went down in 2019.
CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.
Deprecation was low through most of 2018. Segments such as sedans performed better than they have in years past, while trucks and SUVs continue to retain their values well.
More SUVs, the retention of higher mileage vehicles, and new methods of remarketing are some trends fleets are observing in the wholesale market.
Merchants Fleet Management has hired a regional sales manager for northern and central California and a manager for its Merchants GuaranteeTRAC resale program, the fleet management company announced.
Vehicle remarketing has come a long way since J.D. Rawls held his first auction in 1938. As these 23 leaders show, the industry continues to grow and evolve.
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