Toyota’s Jack Hollis Retires as COO of North America, Will Be Succeeded by Mark Templin
Jack Hollis — the former professional baseball player who has spent more than a decade as a frequent and high-profile executive voice championing Toyota Motor North America — has retired effective Jan. 22 from the company where he has worked for the last 33 years, the Japanese automaker said. Hollis is to be succeeded as COO and head of sales by longtime Toyota executive Mark Templin, effective Jan. 27, Toyota said. According to Automotive News, the announcement comes less than nine months after Toyota reorganized the top echelon of its North American management structure, flattening it into a more traditional model and handing Hollis more responsibilities under regional CEO Ted Ogawa.“Some time ago, Jack let us know he wanted to retire. During his time here, Jack has been instrumental in building a world-class sales and marketing team, exceptional dealer relationships and served as a true brand advocate for the Olympics and Paralympics,” Ogawa said in a written statement. “We’re thankful for his dedication to Toyota and wish him well.” Click here for the full story.
Dealer Roundtable: Insights From Powerhouse State Association Presidents
In today’s special episode of CBT News’ Inside M&A, hosts Dave Cantin and Jim Fitzpatrick host a virtual dealer roundtable. The panel features a powerhouse of state association presidents: Brian Maas, president of the California New Car Dealers Association (CNCDA); Darren Whitehurst, president of the Texas Automobile Dealers Association (TADA); and Ted Smith, president of the Florida Automobile Dealers Association (FADA). The devastating wildfires that are blazing across Southern California have impacted millions of families, including thousands of dealership employees. In the most devastating situations, many have lost everything. If you’re able to, consider contributing to the NADA Foundation’s Emergency Relief Fund to support those who have been affected by the tragic wildfires. Cantin observes that the past six months have been marked by economic uncertainty, with varying implications for different states. Representing three of the largest dealer markets, Maas, Smith, and Whitehurst offer unique perspectives on how their states are preparing for potential changes under President Trump’s second term. Click here for the full interview.
Hyundai Motor Nears GM Tie-Up Deal; Sees Revenue Growth Slowing In 2025
South Korea’s Hyundai said it is in talks with General Motors to supply commercial electric vehicles to its U.S. peer, as it expects sales growth to halve this year due to softening demand. It also flagged policy risk in the United States with U.S. President Donald Trump taking office with promises of import tariffs, though it said any negative impact will be greater for Japanese rivals, reports Reuters. The automaker, which signed a preliminary tie-up deal with GM last year, also said it aims to sign binding contracts on cooperation in parts procurement and passenger and commercial vehicles within the first quarter of this year. “We are considering re-badging our commercial EVs and supplying GM… The deal will pave the way for our entry into the North American commercial vehicle market,” Hyundai Chief Financial Officer Lee Seung Jo said on an analyst call. The talks come as automakers brace for policy uncertainty in the U.S., the world’s second-largest auto market, that could upend demand. This week U.S. President Donald Trump said he could impose 25 percent tariffs on Canada and Mexico from Feb. 1. Click here for the full story.
Honda Spends $100 Million to Retrain Employees in Software, New Tech
What does an old-guard, metal-bending automaker do when it can’t find enough software engineers to power its transformation into a modern, digital “mobility” company? If it’s Honda Motor Co., under CEO Toshihiro Mibe, executives spend some $100 million to retrain their current employees.Japan’s No. 2 automaker is embarking on the reeducation program to give its workers the basic foundations of the new technologies that undergird development and production of tomorrow’s software-packed, artificially intelligent, autonomous-driving electrified vehicles.“The biggest challenge for us is to find talent in the software-defined vehicle-related field,” Keiichi Yasuda, vice president of Honda’s “human capital” unit, told Automotive News. “Japan is limited in its pool of software-related engineers.” Honda’s remedy calls for investing $96 million over the next five years on reskilling employees in areas such as artificial intelligence, electrification and energy management. The training will mostly occur online. The company is looking to upgrade the skills of all employees, but it won’t be enough to turn everyone into an overnight coding whiz. Those already working in the fields of software or electrification will get advanced top-ups to take them to the next level. Click here for the full story.
Here’s What Auto Retail Experts Expect in 2025
While it’s too early to know what a new year, a new president and new AI tools will mean to the retail auto market, there are hot spots to watch as the year progresses. But as a long-time WardsAuto contributor, I can tell you about the trends in fixed ops, sales, F&I and even the buy-sell market my colleagues and contacts are watching as the year unfolds. Attribute the light-vehicle sales bump to higher inventory, lower interest rates and growing factory incentives and dealer discounts. It’s a well-established trend that as new-vehicle inventory has recovered, factory incentives and dealer discounts have grown, making the average new vehicle more affordable. That’s good news for dealership returns overall and, therefore, for dealership values. According to a joint forecast from J.D. Power and GlobalData, U.S. new-vehicle sales in December 2024 are on track for just over 1.5 million, an increase of 7.3 percent vs. a year ago, on an average selling-day basis. “There is a clear positive momentum shift for the new-vehicle market, especially in the fourth quarter,” says Jonathan Smoke, Cox Automotive’s chief economist. Click here for the full story.
CARFAX: Rising Number of Vehicles with Unfixed Recalls, 14 Million Cars Have Two or More
Despite growing concerns over vehicle safety and efforts by vehicle manufacturers, 58.1 million cars on the road, or one in five, have an automotive recall that remains unfixed. CARFAX data shows that’s a 16 percent increase in just two years. Among these vehicles, more than 14 million have two or more unresolved recalls, significantly raising the risk of critical safety component failures, potentially involving brake systems, airbags, and seatbelts. “Addressing them can save lives and protect your wallet in the long run,” said Paul Nadjarian, General Manager of CARFAX Car Care. These open recalls are putting millions of American drivers at risk, even though these repairs can be made at no cost to car owners. Texas leads the nation with 1.6 million vehicles with two or more unfixed recalls, followed by California with 1.5 million, and Florida with 901,000. Vehicle manufacturers, the National Highway Transportation Safety Administration, and CARFAX have been working to help vehicle owners close these recalls. Carfax offers free Vin checks for recall at carfax.com/recall or get more information here.
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