The industry witnessed its most significant increase in minority-owned dealerships since 2012, with 110 new stores added in 2022. This is the first time in over a decade that the count rose by triple digits for two consecutive years. Automotive News spoke about the occasion with NAMAD's talented vice chair and Damon Lester.
Leaders in Growth:
The number of minority dealerships now stands at 1,476, roughly 9% of U.S. franchised dealerships.
Praise and Challenges: Stellantis praised the National Association of Minority Automobile Dealers and other organizations for support. Ongoing challenges include access to capital and the importance of maintaining these gains.
GM's Commitment: "GM is very proud of our accomplishments with the Minority Dealer Development Program," emphasizing dedication to reflecting the communities they serve.