At CBT News, we’ve talked a lot about diversity and the evident lack of minority representation in the retail automotive industry. This subject alone has left many companies scrambling to solve the tough questions of why and what can be done. Today, we’ve brought in two special guests to go in-depth on these issues.
At FCA, Eric Wong and Wadette Bradford are using their platform to grow diversity in the retail automotive sector. Eric serves as FCA’s senior manager of dealer market representation, diversity, and technology, and Wadette works as FCA’s manager of dealer network diversity and investments. The pair joined us to discuss FCA’s Dealer Diversity Program.
Empowering minority-owned dealerships is a step in the right direction when it comes to growing diversity in the auto industry. OEMs must understand their role in creating successful opportunities for minority dealers.
FCA’s philosophy is to have their dealer network represent the demographic in which they do business. Not only is that good for the representation of the brand, but it is good for business in general. In fact, FCA is now ranked number two in minority-owned stores for the U.S. automotive industry. According to Eric, that is good progress, but they are striving to achieve that number one spot.
Currently, FCA has 244 minority dealers, 183 of which are majority owners. There are 300 women dealers who own some portion of the dealership with 100 of them at majority level ownership. 30 of these women dealers are exclusive owners. FCA’s minority dealers are the most profitable as well.