NAMAD and the Positive Outlook for Minority Dealers

Special Guest - Damon Lester & Perry Watson IV

We’re bringing back another two-guest episode, and this is one you won’t want to miss, especially if you are an aspiring dealer! Perry Watson IV and Damon Lester, both of The National Association of Minority Automobile Dealers (NAMAD), discuss how the association is changing the lives of minorities within the automotive industry, what individuals who want to own a dealership can be doing, and more.

NAMAD, founded in 1980, is an association that champions advocates for diversity and inclusion in all areas of the automotive industry. If you’ve never attended a NAMAD conference, Damon says the atmosphere is such that “you feel like you’re at a family reunion.”

In this episode you’ll also hear:

Optimistic insights as we head into the end of 2024
An inside look at becoming an automobile dealer
How the NextGen initiative is supporting minorities aiming to be dealership owners
Damon and Perry’s surprising pathways into the automotive industry
Both guests strongly reiterate that everyone in the automotive industry is involved in the people and relationship business. A great reminder for us all!

Episode Breakdown

0:00 – Meet Damon and Perry!
6:12 – Main takeaways from NAMAD
8:41 – Damon’s transition from president to dealer
13:58 – Balancing ownership growth in a time of consolidation
16:35 – How NAMAD’s NextGen is supporting dealers
20:58 – Ways OEMs, suppliers & providers can help future dealers
23:52 - Transferring nonprofit skills to dealership ownership
29:03 – Advice for aspiring dealers
35:41 – Approaching dealership ownership
43:57 - Three-month outlook on sales

Perry Watson IV has been the president of NAMAD since 2023 and is an award-winning business manager and DEI expert. His multifaceted career includes working in the neuroscience pharmaceutical field with Eli Lilly and Company as well as multiple leadership positions at dealerships and automotive software companies. He has achieved the #1 national ranking for New & Pre-Owned Sales Satisfaction and the Elite of Lexus Certification Award for 12 straight years.

Damon Lester is the owner of Nissan of Bowie in Maryland. For two decades he served as the president of NAMAD where he helped approximately 300 minority entrepreneurs become owners of dealerships.

Damon also cemented partnerships with 100% of domestic and international auto manufacturers (OEMs) and empowered diversity programs across their dealership network, employees, and suppliers and served as strategic advisor to their CEOs on policies and best practices. He has been featured in various media outlets like Automotive News, Black Enterprise Magazine, Ebony.com and NPR.

Visit their LinkedIn profiles for more about Damon Lester & Perry Watson IV.