In light of historic hurricane disasters in Texas and Florida, The National Association of Minority Automobile Dealers (NAMAD) has spearheaded the NAMAD Disaster Relief Fund to assist employees and families of NAMAD Dealer Members in these affected areas.
In a member-wide “Call to Action,” NAMAD has asked Dealer Members to contribute $2,000 for each dealership they own to this crucial Fund.
“The response has been amazing,” said NAMAD Chairman Irving Matthews. “We have already collected more than $400,000 towards our goal of raising $1 million. Even our dealerships in the affected areas have donated, despite the potential for huge financial losses. All of the monies raised will be distributed to NAMAD Member Dealer employees and their families to help them deal with the loss of income, housing and stability hurricanes Harvey and Irma have created. Like millions of Americans coast to coast, we’ve made a commitment to help those in need, and help jumpstart the rebuilding process.”
Cox Automotive estimates that up to 500,000 cars were destroyed during Hurricane Harvey and resulting mass flooding, and combining the number of private and business-related vehicles destroyed, Black Book believes that figure to be more like one million. Texas Governor Greg Abbott has suggested that Harvey recovery could cost up to $180 billion.
In Florida, the numbers are not in yet, but considering Hurricane Irma’s footprint was larger than the entire state, we are not optimistic about damage numbers.
It will take months for the most severely damaged businesses to rebuild. This, too, prolongs the crisis for affected families.
“NAMAD calls on the insurance industry to be expedient in processing claims for losses during Hurricanes Harvey and Irma,” said NAMAD President Damon Lester. “We also thank automobile manufacturers for accelerating vehicle removal and staging so damaged inventory can be replaced as quickly as possible. Texas and Florida represent two major markets for new vehicle sales in the U.S., and NAMAD and others are doing our part to assist those in need. If all companies that support the automobile industry react and respond with immediacy and purpose, we can, more quickly, put Hurricanes Harvey and Irma in the history books.”
NAMAD represents the business interests of the nation’s Asian, African, Hispanic and Native American automobile dealers.
NAMAD’s objective is to pursue the meaningful presence and participation of minority businesses and diverse employees across all aspects of the automotive
NAMAD is a 501(c)(3) non-profit, tax-exempt organization headquartered in the Washington, D.C. area.
SOURCE National Association of Minority Automobile Dealers (NAMAD)