The life and legacy of Reverend Jesse Jackson are being honored across the country, reflecting on his decades of civil rights advocacy and economic empowerment. While many remember Reverend Jackson for his leadership in politics and civil rights, his influence also extended into the automotive industry, where he played a pivotal role in shaping minority dealership ownership.
On this episode of Diversity in Automotive, Perry Watson IV, the fourth president of the National Association of Minority Automobile Dealers (NAMAD), joins us to discuss Reverend Jackson’s lasting impact on the dealer body and the work that lies ahead.
Watson, who began his tenure as NAMAD president in 2023, said he had the “unique” opportunity to work alongside Reverend Jackson during an automotive summit shortly after taking office. “It was like being in the room with a Titan,” he said, describing the experience as both humbling and formative.
Reverend Jackson was one of NAMAD’s founders, alongside William “Bill” Shack, Nate Conyers, Mel Farr, and early chairmen Martin Kuumba and Jay Park. While many leaders helped lay the organization’s foundation, Watson emphasized that Reverend Jackson was “absolutely critical” to its formation.
Before NAMAD was officially established in 1980, Reverend Jackson attempted to unite minority dealers, but the effort initially fell short. At the time, the landscape for minority ownership was limited. Watson said that in or around 1980, there were an estimated 150 to 250 minority dealers out of roughly 23,000 dealerships as a whole.
Reverend Jackson’s advocacy pushed automakers to reevaluate how their dealer networks reflected the communities they served. According to Watson, that shift marked a turning point.
“OEMs discovered that minority consumers absolutely want to see themselves reflected in the dealerships they purchase from, up to the highest form of leadership, which is ownership. And it just was and is a winning formula for inclusive economics. It’s a win-win for all parties involved, and Reverend Jackson knew that.”
Watson emphasizes that owning a dealership is not just a business opportunity; it serves as a means for community empowerment and economic development. Minority-owned dealerships often reinvest in their communities through educational initiatives, health programs, and philanthropic efforts. Reverend Jackson portrayed dealership ownership as a pathway to long-term economic mobility and shared prosperity.
While progress has been made, challenges still exist. Watson stresses that access to capital has improved since 1980; however, increasing dealership valuations and operating costs continue to pose barriers to entry. Therefore, Watson confirmed that NAMAD collaborates closely with banks, OEMs, brokers, and capital partners to assist minority dealers in acquiring and retaining dealerships.
NAMAD’s most recent census shows approximately 1,500 minority dealerships nationwide. However, minority-owned stores represent only about 7 to 8% of total dealerships, a figure that lags behind broader demographic growth projections.
Watson acknowledged that many OEMs are seeing measurable returns from their diversity initiatives, but he stressed that significant work remains to close ownership gaps.
To address those challenges, NAMAD has outlined five strategic priorities:
- Retention of existing minority dealerships to ensure long-term sustainability
- Expansion support for dealers seeking to grow their footprint
- Development of future owners through initiatives such as the NAMAD Dealer Ownership Academy
- Legislative and regulatory advocacy on behalf of minority dealers
- Increased awareness around the economic value of inclusive ownership
Additionally, the NAMAD Dealer Ownership Academy, supported by partners including Honda, is designed to prepare the next generation of dealers for evolving industry dynamics. Watson pointed to recent disruptions, including COVID-19 and the transition toward electric vehicles, as evidence that future leaders must be equipped with resilience and advanced preparation.
Ultimately, Watson said Reverend Jackson’s legacy centers on intentional opportunity, collective responsibility, and inclusive economics. NAMAD, he said, plans to build on that foundation by strengthening ownership pathways and ensuring minority dealers are positioned to compete and lead in a rapidly changing automotive landscape.
