Luxury auto dealer makes a value play

Bad economy or not, Elder Automotive Group is opening its seventh dealership in the Tampa Bay area.

The new Tampa Mitsubishi will open later this year at 11608 N. Florida Ave. in Tampa, sharing space with EAG's Saab franchise.

The Mitsubishi dealership, which will offer new and used vehicles, represents somewhat of a value play for Michigan-based EAG, which owns Elder Ford and also sells European luxury auto brands Jaguar, Aston Martin, Fisker and Spyker. Rob Elder, president of EAG, says it's all about offering choices and opportunities to fit any driver's budget.

While he deals in cars that rival many local homes in price, Elder says he understands how it is to live close to the edge of being broke. His father died in the early 1980s, leaving his mother, Irma Elder, to run the family's Ford dealership and support three children.

“In this economy, I think we're all watching every penny,” Elder says. “Times were tough and, unfortunately, they're tough again.”