In December of final 12 months, Feldman Automotive Team, a partnership started in collaboration with actor Mark Wahlberg, celebrated the grand opening of their 19th dealership the very first freestanding Jeep dealership in Southeast Michigan. On this episode of Inside of Automotive, Jay Feldman, the group’s chairman and CEO, sits down with host Jim Fitzpatrick to focus on the new location and the long run of the automotive industry.
The new Feldman acquisition arrives at an appealing time for the auto-market. The COVID pandemic and its subsequent fallout observed significant impacts to the global automotive market place, with source chain disruptions, content shortages, economic constraints and fascination fee hikes wrecking havoc on the U.S. However, regardless of the financial headwinds, need for cars stayed surprisingly reliable throughout 2021 and 2022, and with some analysts suggesting a normalization could strike in the latter 50 % of the 12 months, quite a few dealerships are hoping this yr has even greater surprises in retail outlet.
Feldman Automotive’s new Michigan Jeep storefront is 15,000 square feet, and three acres, with whole company revenue. Stellantis allotted new inventory for the standalone facility, and the group hopes to bring electric autos to the dealership as effectively, these kinds of as the Jeep Recon, an all-electrical SUV arriving next year. Soon after environment up shop, the creating was immediately equipped with products to treatment for EVs, such as its services center. The CEO notes that the foreseeable future of zero-emission cars is unclear, considering that the logistical concerns bordering their output and powering have nonetheless to be settled. Even so, he notes that his clients largely share automaker enthusiasm for the engineering, a excellent indicator for the long run.
The new Feldman dealership is an great indicator for the toughness of the car market. Though makers and shops alike have concentrated on the issues they encountered around the last two many years, they fall short to notice the resilience their corporations have revealed. Although worries however lie in advance, the hard operate of automakers and retailers to continue to keep the business afloat should not go unnoticed.
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