General Motors embarked on its most ambitious plan to expand its minority-owned dealerships in 2015. Now, with Mark Rainey, GM’s new director of dealer development, things are progressing forward.
But, there’s a catch. GM won’t simply help minorities interested in dealerships through open points. Instead, it must be done through acquisitions.
“Don’t stand in line waiting for an open point because it’s not going to happen,” Rainey stated. He made the comments while discussing what GM takes into consideration when helping dealers and potential candidates to acquire stores.
The effort “to increase our minority dealer count has to be done through acquisitions, not through open points,” he said. “We have a very mature network, and we’re here to work with you to find those opportunities for acquisition.”
He also told dealers to ensure they have a succession plan in order, and offered up assistance if a particular dealer does not.
“If you have children in the business, we can work through next-generation efforts to make sure they are comfortable and continue to be motivated and have a peer group to help them stay interested in the business.”
At the end of 2015, GM had added 12 minority-owned dealers. So far in 2016, it has added eight.
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