WASHINGTON, D.C.—This year alone, African-Americans are projected to spend as much as $24 billion on new cars and other vehicles from America’s auto industry. Yet, research shows that, commensurate with their spending, Black consumers have little to show for their support of car dealerships, except the shiny new purchases in their driveways.
That’s the reason that a new agreement between the U.S. Black Chambers, Inc. and the National Association of Minority Automobile Dealers was established to start solving that problem. The purpose of the Memorandum of Understanding, signed late last month, is to forge relationships with Black vendors and suppliers with hopes to “open millions of dollars of opportunity to Black businesses across the nation,” says Ron Busby, president/CEO of the USBC. “The end goal of these agreements is to leverage USBC‘s professional relationships to provide more tangible contracting opportunities for our small business members and to facilitate collaboration in the Black community.”
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