And speaking during the colorful
ceremony, Union City Mayor Ralph Moore heaped praise on Mr
Karangu saying he should be emulated by his peers in the industry.
The
mayor said that Karangu is the first entrepreneur to roll
out such a program. ‘It’s an unprecedented gesture which directly
benefits those in need of help, and that is what caring about the
community should be about”, he said.
Mr Karangu’s story reads like fiction. He rose from
humble beginnings to
become one of the wealthiest and most respected Kenyans in the Diaspora.
In 1997, he opened his first dealership - Fairway Ford of Augusta - at the tender
age of 30, becoming the youngest Ford Dealer in the United States. As fate would
have it, Karangu would go on to build an automotive empire in less than 10 years,
with an annual turnover of over $300 Million. In 2001, the reputed Ebony Magazine
named him the Dealer of the Year. Four years later, he was honored with Ford
Motor Company President’s Award. Soon after, Black Enterprise named him
among the Top 50 Dealers in the United States. On July 1, 2005 he opened Mercedes
Benz of Augusta. This was to be the crown jewel of the new empire. From the beginning,
it was a success, setting new records for a Mercedes dealership and David being
one of five
African Americans in History to own one. July 28, 2005 was declared “David
Karangu Day”by the Mayor of Augusta. In 2007, the Mayor of Augusta gave
David an Honorary Key to the City. The Governor of the State of Georgia appointed
him to the board of the Medical College of Georgia - the second largest hospital
in the State for a three year term.
In 2007, he acquired a BMW dealership in columbia, SC and renamed it BMW of Columbia.
Along with it came other franchises - Ivory VW and Ivory Subaru. That year, Black
Enterprise Magazine ranked the Ivory Auto Group as the 26th largest minority
owned Dealership in the United States with Sales over $100 million Dollars annually.
But his enterprise took a different turn when, in December 2007, Karangu sold
the entire Ivory Group of dealerships to Group 1 Auto Group. He retired at the
age of 40 to pursue his lifelong dream of travelling throughout the world, cooking
and a luxury homebuilding. He bought a plot next to Georgia State Governor’s
mansion where he is currently erecting his home valued at $12 Million.
But upon realizing that the automotive industry holds his calling, the 43 year
old Karangu purchased the former Steve Rayman Chevrolet South and renamed it
Ivory Chevrolet in July of this year. But it is perhaps his love for the community
that has informed his philanthropic decision to roll out the Special Diaspora
program. In an interview with KEN three years ago, Karangu told this reporter
that throughout his journey, he always believed in helping and motivating others.
A copy of his Biography supplied to KEN by his General Manager says that Karangu
has given motivational speeches to various groups throughout the US and to corporations
in Kenya. It further states that he has donated millions of Shillings in Kenya
for HIV/Aids awareness, educational scholarships and orphanages.
It is against that backdrop that Karangu is now rolling out the special program
which promises to offer unprecedented discounts to prospective new and used car
owners. Karangu says that would-be customers may call the Diaspora hotline at
678-699- 9788 or visit www.ivorychevy.com for details.
Besides the Mayor of Union City, others present included Union City Manager Steve
Rapson, Steve Raymans Franchise owner, a Fulton County representative, General
Motors Chief Executives and Kim Media Group CEO, Wilson Kimani Wanguhu.http://www.kimmediagroup.com
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