The company known as CAOA is among the largest distributors and manufacturers of automobiles in Latin America. This company was founded in 1979 by a former physician and now entrepreneur Carols Alberto de Oliveira Andrade. He is currently the Chair of the Board of Directors. Over the last four decades, CAOA gradually established itself as a top company in the automobile industry due to its entrepreneurial spirit. The company has been based in northeastern Brazil since its inception during the late 1970’s.
In 1979, a Ford dealership of Campina Grande located in the Brazilian state of Paraiba went bankrupt after selling a Ford Landau. The vehicle was never delivered and Carlos offered to receive the dealership as a form of compensation of not receiving the vehicle. This would count as pre payment for the Landau according to sources. Once this deal was made, CAOA was established. The company stands for the founder’s initials; Carlos Alberto de Oliveira Andrade. Carlos began managing the dealership and quickly made it into the largest Ford dealership in Brazil.
Thirteen years later in 1992, Brazil began allowing imported vehicles to enter its vehicle market. CAOA capitalized on this opportunity be becoming the main importer of the French franchise Renault and made it into the top selling imported car. It also became the fifth best selling automobile in the auto industry as well. However, CAOA decided to end its partnership with the French auto manufacturer.
By 1998, Carlos’ company became the sole importer of the Japanese autos made by Subaru. The brand was represented by another company but CAOA took over. Once CAOA took over Subaru distribution, the sales of the vehicles tripled in less than one year.
A year later in 1999, CAOA began importing and selling Hyundai vehicles. Within a short period of time, CAOA became the largest and top selling distributor of vehicles from this manufacturer. In 2007, the company would become the first automaker in Brazil as it began producing Hyundai vehicles. Carlos spent $600 million to get the manufacturing plant and begin making the vehicles. This allowed him to earn Entrepreneur of the Year in Industry Award. Today, CAOA continues to provide high quality vehicles for Hyundai, Subaru and Ford.
Find out more about CAOA: https://medium.com/@carlosalbertodeoliveiraandrade