Brazilian native Carlos Alberto de Oliveira Andrade runs one of the largest auto dealerships in Latin America. His started his company, CAOA Group, over 30 years ago after he’d attempted to buy a vehicle called a Ford Landau back in 1979 from another dealership called Vepel. Due to the fact that the company was unable to deliver his new car to him, due to the fact that it went bankrupt shortly after selling it to him, he was offered a position with them, which he held for 6 years before he decided to venture out to start his own company based in the auto industry.
CAOA Group became the largest distributor of Ford vehicles in Brazil, and by 1992, the business expanded and began importing their cars. In an article from gppalestras.com.br, it says that Carlos Alberto de Oliveira Andrade was later given the opportunity to represent other car brands like the Japanese manufactured Subaru and the South Korean brand Hyundai in 1998 and 1999. The group went on to start its own vehicle assembly operation in 2007 in the Agribusiness district, located in the Anapolis area. One of the other types of cars the company builds in its factory is the Chinese model Chery, a brand whose building operation CAOA acquired 51% of in September 2017.
After starting CAOA Chery, the CAOA Group agreed to invest $2 billion in the business over the next 5 years. Because of his leadership abilities and success as a strategic businessman, Carlos Alberto de Oliveira Andrade was eventually honored by his assembly company with the title of Entrepreneur of the Year, an award that was given to him by Isto E Dinheiro magazine. The auto dealer is one of the wealthiest executives in his home country, with a net worth of approximately $2.1 billion. This status put him on the Forbes Billionaire list among other high achieving Brazilian businessmen.
Carlos Alberto de Oliveira Andrade, who was born in Joao Pessoa, Paraiba, Brazil on November 25, 1943, chose to name his auto making and distribution company after himself. The letters CAOA are taken from the first letter of each of his names.