In the last few decades, CAOA has evolved into the most dominant company in the automobiles industry in Brazil and Latin America. It started off by acquiring dealership rights for different international brands such as South Korea’s Hyundai Motor Company before venturing into car manufacturing. Today, it commands authority in the sector has gained recognition by Good doer Company by IstoÉ Dinheiro magazine and Carta Capital magazine that have time and again referred to it as the Most Admired company in the country.
History of CAOA and Dr. Carlos
In 1979, Dr.Carlos, an experienced medical doctor, ordered a Ford Landau from the Ford Dealership in Campina Grande. Little did he know the company was just about to file for bankruptcy and it went under before delivering his prepaid order. He had to face one of the biggest challenges facing the Brazilian automobile industry at the time, poor management.
Determined to still get value for his money, Carlos Alberto de Oliveira Andrade decided to go after the entire dealership. He proposed that the bankrupt company be passed down to him as compensation for the financial losses suffered.
Consequently, he was granted all the rights and took over the Ford dealership under the name CAOA. Since then, his business acumen ensured that CAOA only became bigger and more successful by the day.
Raising the car dealer from the ground
In the years that followed, luck would swing in CAOA’s favor, particularly in 1992 when the Brazilian government allowed imported vehicles in the Brazilian market. CAOA acquired exclusive rights as the importers of the French brand, Renault. This boosted CAOA’s sales making the automobile company the first in sales.
Japenese Subaru followed six years later in 1998 as CAOA became the leading importer of the brand. In tandem, Hyundai followed in 1998 when CAOA acquired importing rights effectively competing out two other distributors already present in Brazil.
Decades later, CAOA is still the largest Ford dealership in Latin America and established a Hyundai plant in Agribusiness District of Anápolis (DAIA) of Brazil. The Hyundai CAOA Automobile Plant was built in 2007 at a cost of USD$600 million that Carlos Alberto de Oliveira Andrade paid for from his own pocket. Dr. Carlos says this was a lifelong dream and he is glad to have achieved it