Pub. 59 2018-2019 Issue 4

34 profitability and overall performance in the dealership each month. We reached the end of the year feeling very good and optimistic about the future of the dealership. Then, on December 12, 2000 I received some devastating news fromGeneral Motors. They announced that the Oldsmobile brand would be terminated. After being in existence for over 100 years, Oldsmobile would be terminated the first year that we had the franchise. Oldsmobile accounted for over 70 percent of our new vehicle volume. What was already a very tenuous operation became much more of a challenge. In spite of the great difficulties, we regrouped, changed our strategy and were able to attain several consecutive years of growth. We purchased the Las Cruces dealership about four years after opening the El Paso dealership. Do you have family members in the auto industry? I have a brother, Joel, who works with me in the El Paso dealership. Describe your education background.What did you study? I graduated from the University of Houston with a BBA and majored in accounting. Are there any specific individuals who had a major impact on your career? There are many people who had an impact on my career. The term “self-made man” does not apply to me. From supportive family members, to teachers that inspired me, to people that have helped and guided me throughout my career, I owe them all a great debt of gratitude. For the sake of not filling this entire publication with a list, I will only name two people. Bob Perry was a great mentor. He was a wonderful human being. I learned much from him including the importance of being a good steward of your achievements. There were also many people at General Motors who assisted me along the way; in particular, Bill Reineck. Bill mentored me from the beginning of my automotive career and first brought me the opportunity to take on the El Paso dealership. Of course, I have been very blessed to work with a great group of dedicated and committed individuals at both of our dealerships. What is the most rewarding part of your career? By far the greatest satisfaction of being part of a successful operation is witnessing the ripple effect that it has on the members of your organization and your community. By providing our customers with world-class products and service, our employees and their families are rewarded for their efforts. Being in a position where we can allow our employees to provide a good quality of life for their families is a true blessing. What do you think will be some of the dominant trends within the auto industry in the next 5-10 years? A number of things are changing in transportation that will affect our industry. We are seeing changes in our population’s preferred methods of transportation. Ride sharing is becoming more prevalent and autonomous vehicles appear to be on the horizon. We are also on the cusp of seeing a significant increase in the production of electric vehicles. Almost every auto manufacturer has announced plans to roll out new EV products in the near future. States across the nation are currently planning for infrastructure to support these products.  RAYMOND PALACIOS — CONTINUED ON PAGE 36 By far the greatest satisfaction of being part of a successful operation is witnessing the ripple effect that it has on the members of your organization and your community. By providing our customers with world-class products and service, our employees and their families are rewarded for their efforts.