JACKSONVILLE, Fla. – In the latest episode of This Week in Jacksonville: Business Edition, host Kent Justice sits down with Jack Hanania, a legendary entrepreneur and 2024 First Coast Business Hall of Fame honoree.
Their conversation dives into Hanania’s journey in the automotive industry and the current market landscape.
Hanania, who initially pursued a career as a CPA, shifted to the car business in 1983. “I decided to take some time. I’ll get in the car business, sell cars,” he said. Starting with Luther Coggin, he eventually became a partner in the Orange Park dealership, expanding his operations and investing in downtown Jacksonville.
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As they discussed industry challenges, Hanania emphasized the critical role of people. “The automotive business world is complex,” he explained. “You have technicians, service people, and salespeople, all with different mindsets.” Understanding these dynamics is essential for reducing turnover and maintaining a successful dealership.
Hanania also highlighted the importance of quality products. His dealerships represent brands like Honda, Hyundai, and Volkswagen. “The product we represent has been excellent,” he noted, stressing the need for reliable vehicles.
The conversation turned to tariffs and their potential impact. Hanania shared that manufacturers are prepared to absorb some costs. “Hyundai, in particular, said we’re going to absorb it and continue to make cars,” he stated, suggesting that pricing may remain stable.
How are consumers reacting to the potential for tariffs? Hanania observed that buyers are currently taking a pause, waiting to see how the situation unfolds. “Business has been good,” he said, adding that the used car market has stabilized, creating opportunities for trades.
Looking ahead, Hanania expressed his commitment to community involvement and maintaining a private business model. “It’s not all about the money; it’s more than that. It’s the love of the business,” he said, emphasizing his desire to expand within Jacksonville.
On succession planning, Hanania shared that his sons are actively involved. His oldest son has been with the company for 12 years, while his youngest manages the Infiniti dealership, which ranks highly in sales and customer satisfaction. “The future looks great,” he said confidently.
In closing, Hanania reflected on his passion for the automotive industry and his dedication to Jacksonville. “I’m the luckiest guy on the planet because I love doing what I do,” he remarked.
