Last December, Feldman Automotive Group, a partnership co-founded with actor Mark Wahlberg, celebrated the grand opening of its 19th dealership. The first independent Jeep dealer in Southeast Michigan. In this episode of Inside Automotive, Group Chairman and CEO Jay Feldman sits down with host Jim Hen Fitzpatrick to discuss new locations and the future of the automotive market.
The new Feldman acquisition comes at an interesting time for the automotive industry. The COVID-19 pandemic and its ensuing effects have had a significant impact on the global automotive market, with supply chain disruptions, material shortages, financial constraints and rising interest rates hitting the United States hard. But despite the economic headwinds, demand for cars has remained surprisingly stable throughout his 2021. And it’s 2022, with some analysts suggesting that normalization could hit later this year, and many dealers are hoping for even better surprises in store this year.
Feldman Automotive’s new Michigan Jeep store is 15,000 square feet (3 acres) and offers full service sales. Stellantis has allocated new inventory at the independent facility, and the group hopes to bring electric vehicles to dealers as well, including his Jeep Recon, an all-electric SUV coming next year. After setting up the shop, the building was immediately equipped to care for EVs, including a service center. The CEO says the future of zero-emission vehicles is uncertain. Because the logistical issues surrounding its production and power supply have not yet been resolved. But his customers mostly share the automaker’s enthusiasm for the technology, which he says bodes well for the future.
The new Feldman dealership is a great indicator of the strength of the auto industry. Manufacturers and retailers alike have focused on the challenges they faced in the last two years, but have failed to realize the resilience their businesses have shown. Challenges remain, but the efforts of automakers and retailers to keep the industry alive should not go unnoticed.
Did you enjoy this interview? Please send your comments, thoughts and questions on this topic to email@example.com.
Stay up to date by following us on Facebook, LinkedIn, and TikTok.
While you’re here, don’t forget to subscribe to our e-mail newsletter for all the latest automotive industry news from CBT News.
This article was optimized by the SEO Team at Clickworks SEO