OpenRoad Auto Group has a long history with Toyota. The group began its partnership with the automaker in 1978, when the company opened its first Toyota showroom on Granville Avenue in Richmond. The dealership in 1985 moved to its current Richmond Auto Mall location and renamed it OpenRoad Toyota Richmond. The dealership group went on to […] [Read More]

What Comerica Bank chief economist Robert Dye projected to unfold this week came to fruition as the Federal Reserve had its first opportunity of 2019 to make an interest rate adjustment. The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 2.25 to 2.50 percent as all 10 […] [Read More]

Craig Pollock, president of JM Lexus and group vice president of parent company JM Family Enterprises, added a veteran to be a key leader at the organization’s luxury dealership in south Florida. Joining JM Lexus as vice president and general manager is Mark Hoppe, who has taken over the reins from Jim Dunn, who held […] [Read More]

Naked Lime Marketing (NLM) recently debuted a market intelligence platform that it says will provide dealers with a single data set combining transactional, demographic and behavioral customer information segments. As a result, the tool is geared to give dealers the ability to have analytical, fact-based decision making. The marketing, advertising and web services company rolled out the platform called […] [Read More]

Fewer personal cars on the road. Less congestion. Cleaner air and more land for people, housing and open space. Those are just some of the social and environmental benefits that car sharing can provide for its members and the cities in which they live. That assertion is according to car sharing network Zipcar’s 2018 Impact Report. […] [Read More]

Anyone who has been involved with the repossession industry over the past several years knows that the world looks very different today than before the Consumer Financial Protection Bureau arrived. Most of the focus during this period has been on third- and fourth-party oversight. Given the CFPB’s official position on vendor management, it is no […] [Read More]

Dealerships that eventually will have 2020 Toyota models in their inventory now have another feature to tout to potential buyers. SiriusXM announced on Wednesday that it has reached what the company called a “landmark” agreement with Toyota that will expand the installation of SiriusXM to all Toyota models and trims sold in the continental U.S.  […] [Read More]

Dealer-to-dealer digital auction platform TradeRev continues its work to help accelerate the dealer buying and selling experience, or in the company’s words, help dealers “move metal” faster and easier. With its MOVE METAL services, the company says users will see shorter auctions, flat fee transportation and streamlined registration. TradeRev announced that beginning on Feb. 5 it […] [Read More]

Cox Automotive has a new chief technology officer. Named to the position is David Brooks, whose most recent role was Manheim’s senior vice president of engineering. Brooks will report to chief product officer Marianne Johnson, and he will work alongside chief information officer Mitch Gersten’s enterprise tech team and product portfolio leaders. He has been with […] [Read More]

Automotive dealers have long used Facebook’s automotive inventory ads to reconnect with people who had visited their website or app. Now, Facebook has enhanced those ads to help dealerships reach more potential customers who have shown interest in purchasing a vehicle online. Citing a recent Facebook IQ survey, the social media company notes that 63 […] [Read More]