WASHINGTON: According to IHS, an international industry data company (IIDC), Black Americans (BA) spent an estimated $8.4 billion on cars in just the first four months of 2015. In the coming year, the U.S. Black Chambers, Inc. (USBC) is determined to direct that cash toward Black-owned dealerships.“In the Asian community, their dollar stays in their community 28 days before it ever leaves,” said Ron Busby, president and CEO of the U.S. Black Chambers, Inc.
“In the Hispanic community, their dollar stays 21 days before it ever leaves. But in the Black community, our dollar leaves within six hours. So we don’t have to worry about the majority not supporting us, we’re boycotting our own.”The USBC is a national association of more than 100 African American Chambers of Commerce and small business organizations working toward Black economic empowerment.
In signing a memorandum of understanding with the National Association of Minority Automobile Dealers (NAMAD), the USBC hopes to appeal people in the market for a new car to buy from Black dealers.The agreement will connect Black car dealers to their local Black chamber of commerce, and will encourage the chambers to get the word out. The USBC also has an interactive listing of Black-owned car dealerships included in its online Black business database.
