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California New Motor Vehicle Board Hosts 2021 Industry Roundtable Focused on Zero-Emissions Vehicles | Seyfarth Shaw LLP
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NAMAD To Host First-of-its-Kind Virtual Event Aimed at Expanding Opportunities for Minority Auto Dealers
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Meteoric rise
Mills describes himself as a man of faith and someone who s goal-oriented, focused and driven. His career trajectory reflects that: He was a general manager of a dealership by age 25 and became a partner in a dealership at 28.
About the series
Automotive News is catching up with notable 40 Under 40 honorees of years past. Four stories ran weekly through this edition, and a video and multipart podcast series will publish July 5. The 2021 class of 40 Under 40 honorees will be unveiled in the July 12 issue.
But his biggest move came in 2004, when he used his life savings to buy Classic Ford in Smithfield, N.C., aided by a loan from Ford Motor Co.
Grene Baranco (l) and Juanita Baranco (r) (photo credit: G&J)
With less than 6 percent of today’s nearly 17,000 new-vehicle dealerships being minority-owned, its literally like finding a needle in a haystack to come across a mother-daughter dealership team. More specifically, a mother-daughter squad who have a financial stake (and hold key positions) in 2 out of 7 of Mercedes-Benz’s black-owned dealerships. The family owned stores are located in Atlanta, Georgia and Covington, Louisiana.
According to the National Association of Minority Automobile Dealers (NAMAD), 95 percent of today’s minority owned dealerships are first-generation dealerships. However, when it comes to minority dealers, especially Black dealers, the numbers are grave. One means of creating general wealth is through owning dealerships. They are literally cash cows, if run properly. This prominent Atlanta family has made provisions to hand the keys off to one of their daughters, when the time becomes appropr
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