Just like his predecessor, new National Association of Minority Automobile Dealers President Hugene Fields brings a fresh outsider’s perspective to the group.
Fields, 35, who was introduced as president in October at NAMAD’s annual convention in Miami Beach, Fla., has 15 years of experience in nonprofit organizations. During eight years as an auditor, he traveled to 35 countries to perform various procedures with nonprofits. Afterward, he worked with nonprofit groups to help them develop their strategic plans.
The Maryland native has a bachelor’s degree in accounting from North Carolina Agricultural and Technical State University and an MBA from the University of Maryland.
Damon Lester, who was succeeded by Fields as president and is now NAMAD’s vice chairman, told Automotive State of the Union’s “In The Dirt with ASOTU” podcast that Fields was found through an executive search firm and was one of about 115 to 120 applicants.
How did Fields stand out from the crowd? Said Lester: “Solely on energy, passion — and he was hungry.”
Lester, who owns Nissan of Bowie in Maryland and also has an accounting background, continued: “He reminds me a lot of me when I started here at NAMAD about 20 years ago. I’m an outsider. Well, what’s an outsider? I came in with a clean sheet of paper.”
Fields “has a servant leadership attitude about him,” said Lester. “So he’s going to take this association to another level.”
Director of Content and Commentary Omari Gardner interviewed Fields, 35, via email after the NAMAD convention.
Here are edited excerpts.
Q: What interested you in this position?
A: Personally, I’ve always had a passion for cars and the automotive world. Growing up, I would collect and build model cars. I remember having a toy racetrack that I would play with and race against my dad. Professionally, I am coming into this role with a strong financial and nonprofit management background. Having almost 15 years of experience within the nonprofit sector, I consider myself a seasoned professional. This position piqued my interest as it combines my knowledge in the financial nonprofit arena with my passion for building relationships with people and love of automobiles.
What are your first impressions, as a newcomer to the industry, of the automotive retail world?
My first impression is excitement and how opportune it is be in the automotive industry right now. We are starting to see the shift from internal combustion vehicles to electric vehicles. The emergence of digital retailing provides dealers an opportunity to reinvent themselves. There is also action on the federal level with EV tax incentives and the Infrastructure Investment and Jobs Act.
What are NAMAD’s priorities in the short and long term?
NAMAD’s dual short- and long-term priorities include continuing to work to increase the number of ethnic minority-owned new-car dealerships. We will continue to work with our current industry partners and build new relationships. I plan to increase communication among our members and others outside of the auto industry to create more awareness of NAMAD and our mission. Lastly, we will continue our existing relationships with our banking partners and reach out to nontraditional financiers and private equity firms to help us secure financing for new or additional stores.
How do you and new Chairman Damian Mills complement each other as NAMAD’s leaders?
I could not have asked for a better chairman to help guide me as NAMAD’s new president. Damian Mills brings a wealth of experience at the retail and community leadership level, and his calm yet authoritative nature will be a huge plus as we move forward together to lead this strong organization.
What are some of the biggest challenges faced by current and prospective minority dealers?
For our current owners, increased interest rates could reduce demand for new cars. We are slowly putting the supply chain crisis behind us, but some dealers are still facing inventory shortages. Critical election years can send our economy in either direction, so this year’s midterms and the 2024 elections loom large in the immediate and near future.
For prospective minority dealers, the immense cost of acquiring a store and access to capital continue to be challenging. To be considered, millions of dollars in liquid funds are needed. Although we acknowledge the programs available to help our future dealers overcome the access to capital barrier, the challenge still exists.
Have you taken the EV plunge, or are you getting ready to?
I haven’t taken the EV plunge yet, in the sense of owning one. But my next vehicle will most likely fall in that category!