April 2015 NY Auto Oullook

First page Table of contents 1 Next page Last page

Data Thru March 2015

NEWYORK AUTOOUTLOOK tm a monthly report on vehicle sales in metro new york

MARCH VEHICLE SALES REPORT

metro area new retail car and light truck registrations

March Estimate*

February Actual

YTD thru March*

2015 2014 % chg.

Industry Total

52,677 52,156 1.0% 39,143 36,779 6.4% 128,337 125,816 2.0%

Cars

23,892 24,892 -4.0% 16,460 15,935 3.3% 56,317 57,534 -2.1% 28,785 27,264 5.6% 22,683 20,844 8.8% 72,020 68,282 5.5%

This table shows new retail light vehicle (car and light truck) registrations in the twelve-county New York Metro Area. Figures exclude fleet transactions. * March 2015 figures were estimated by Auto Outlook.

Light Trucks

Detroit Three

12,946 13,337 -2.9% 10,657 10,471 1.8% 33,911 34,161 -0.7% 9,117 8,855 3.0% 5,509 5,523 -0.3% 20,277 20,207 0.3% 26,604 26,376 0.9% 20,672 18,378 12.5% 65,645 62,943 4.3% 4,010 3,588 11.8% 2,305 2,407 -4.2% 8,504 8,505 0.0%

European Japanese

Korean

Data Source: IHS Automotive

THIS MONTH’S SUMMARY: Area new retail light vehicle registrations increased an estimated 1% in March of this year versus 2014. The small increase is mostly due to very strong results a year earlier. As shown on page 2, registrations in March of last year exceeded 50,000 units, the best month of the year. Auto Outlook predicts that the total for all of this year will exceed 570,000 units, up nearly 20,000 from 2014. Note: historical registration data was recently updated by IHS Automotive. For this reason, past figures will differ slightly from those presented in previous releases.

1.) February n ew retail light vehicle registrations in the Metro Area were up 6.4% compared to a year earlier. 2.) Area market increased 2% during the first three months of this year versus a year earlier, almost identical to the 2.2% improvement in the Nation . 3.) Area used vehicle market increased 14.3% during the first two months of this year. 4.) Chrysler , Lexus , Subaru , Jeep , Acura , and GMC registrations were up by more than 11% in the first quarter of this year. 5.) SUV market share was 47.5% thru March of this year, up 2.2 percentage points from a year earlier and higher than passenger car share.

The Greater NewYork Automobile Dealers Association (GNYADA) represents nearly 400 franchised new car dealerships in Metro NewYork with combined annual sales totaling over $27 billion. GNYADAmembers are responsible for more than 57,000 jobs in the area and collect over $1.8 billion in state and local taxes annually.

RECAP OF FEBRUARY RESULTS

12% 16% 20%

Percent Change in Area Registrations February 2015 vs February 2014

0% 4% 8%

6.4%

February new retail light vehicle registrations in the Metro Area were up 6.4% compared to a year earlier. Auto Outlook had a projected an 7% increase. Auto Outlook is predicting that March sales increased by 1% versus a year earlier. We will report on the accuracy of that projection in the May, 2015 release.

-8% -4%

-20% -16% -12%

PG: 2 new york auto outlook : NEW VEHICLE MARKET April 2015 Issue 0 100,000 200,000 300,000 400,000 500,000 600,000 Registrations 452,076 New vehicle registrations 0 10,000 20,000 30,000 40,000 50,000 60,000 Apr Mar Feb Jan

Auto Outlook projected % change

Actual % change

RECENT RESULTS IN NEWVEHICLE MARKET

Monthly New Retail Light Vehicle Sales 2014 and 2015*

Percent Change in Area and U.S. New Vehicle Sales

Metro NY U.S.

The area market increased 2% during the rst three months of 2015, almost

2014 2015

identical to the Nation.

6.4

4.6

Monthly registrations increased by an estimated 1% in March 2015.

2.2

2.0

1.0

0.5

Change YTD '15 Thru March* vs YTD '14

Change March '15* vs. March '14

Change February '15 vs. February '14

Jul

Oct

Jun

Dec

Sep

Nov

Aug

May

* Figures for March 2015 were estimated by Auto Outlook. Data Source: IHS Automotive

Data Source: IHS Automotive

NEWVEHICLE MARKET FORECAST

New York Metro Area Annual New Retail Registrations History and Forecast New retail % change Years registrations vs. prev. year 2007 452,076 - 2008 449,172 -0.6% 2009 384,763 -14.3% 2010 432,032 12.3% 2011 450,850 4.4% 2012 501,070 11.1% 2013 531,573 6.1% 2014 554,054 4.2% 2015 573,000 3.4% Forecast

Area registrations are predicted to increase by nearly 19,000 units in 2015.

573,000

554,054

531,573

501,070

450,850

449,172

432,032

384,763

2007 2008 2009 2010 2011 2012 2013 2014 2015 Forecast

Data Source: IHS Automotive

NEWVEHICLE SEGMENTS

PG: 3 NEW VEHICLE MARKET : new york auto outlook April 2015 Issue

Japanese brands account for 51.2% of area market

Market Share - YTD 2015 thru March*

Change in share: YTD ‘15 thru March * vs. YTD ‘14

Korean 6.6%

Japanese

1.3

European 15.8%

European

-0.2

Japanese 51.2%

Korean

-0.3

Detroit Three 26.4%

Detroit Three

-0.8

0.6

1.2

0.0

*Figures for March 2015 were estimated by Auto Outlook. Data Source: IHS Automotive. Data Source: IHS Automotive. *Figures for March 2015 were estimated by Auto Outlook.

-0.6

Passenger car market share continues to fall in 2015

Market Share - YTD 2015 thru March*

Change in share: YTD ‘15 thru March * vs. YTD ‘14

Pick ups/Vans 8.6%

SUVs

2.2

Passenger Cars 43.9%

Pickups/Vans

-0.4

SUVs 47.5%

Passenger Cars

-1.8

0.0

2.0

1.0

-2.0

-1.0

Diesel and hybrid vehicle market share declines in early 2015

Market Share - YTD 2015 thru February

Change in share: YTD ‘15 vs. YTD ‘14

Diesel 0.9%

Electric 0.1%

Hybrid 2.3%

Gasoline

0.6

Electric

0.0

Hybrid

-0.2

Gasoline 96.7%

Diesel

-0.4

0.2

0.4

0.6

0.0

-0.4

-0.2

Data Source: IHS Automotive

NEWVEHICLE BRANDS

BRAND REGISTRATIONS REPORT Metro Area New Retail Car and Light Truck Registrations

March Estimate*

Three Month Period (Jan‘14 thru Mar‘15)

YTD thru March*

2015

2014 % change

Current Yr Earlier

% change

2015

2014 % change

PG: 4 new york auto outlook : NEW VEHICLE MARKET April 2015 Issue TOTAL Cars Light Trucks Domestic Brands European Brands Japanese Brands Korean Brands Acura Audi BMW Buick Cadillac Chevrolet Chrysler Dodge FIAT Ford GMC Honda Hyundai Infiniti Jaguar Jeep Kia Land Rover Lexus Lincoln Mazda Mercedes MINI Mitsubishi Nissan Porsche Ram Subaru Tesla Toyota Volkswagen Volvo Other

52,677 52,156

1.0% 128,337 125,816 2.0% 128,337 125,816 2.0%

23,892 24,892

-4.0%

56,317 57,534

-2.1%

56,317 57,534 -2.1%

28,785 27,264

5.6%

72,020 68,282

5.5%

72,020 68,282 5.5%

12,946 13,337

-2.9%

33,911 34,161

-0.7%

33,911 34,161 -0.7%

9,117

8,855

3.0%

20,277 20,207

0.3%

20,277 20,207 0.3%

26,604 26,376

0.9%

65,645 62,943

4.3%

65,645 62,943 4.3%

4,010

3,588

11.8%

8,504

8,505

0.0%

8,504

8,505

0.0%

1,108 1,268 2,414

1,198 1,075 2,301

-7.5% 18.0% 4.9% -1.1% -8.5% -5.0% 12.8% -25.4% -6.8% -5.3% -0.5% -6.9% 10.0% -1.5% -10.0% 21.3% 51.3% 6.6% -4.8% -9.7% 8.2% 56.4% 6.8% -4.7% 10.7% -0.6% 5.3%

3,250 2,555 5,162 1,271 5,498 2,311 1,715 750

2,912 2,369 5,089 1,668 5,503 1,947 2,041 915

11.6%

3,250 2,555 5,162 1,271 5,498 2,311 1,715 750

2,912 11.6%

7.9% 1.4%

2,369 5,089

7.9% 1.4%

350 541

354 591

-18.0% -23.8% -0.1% 18.7% -16.0% -14.6% -6.1% 11.5% -13.9% 12.2% -3.0% 39.6% 16.3% 2.8% -7.5% -0.4% 25.4% 13.8% -3.1% 1.2% -0.6% 2.1%

915

-18.0%

1,668 -23.8% 5,503 -0.1% 1,947 18.7% 2,041 -16.0%

2,042

2,149

914 661 123

810 886 132

270

316

270

316

-14.6%

3,303

3,488

8,443 2,469

8,993 2,214

8,443 2,469

8,993 -6.1% 2,214 11.5%

752

756

6,511 2,845 1,021

6,993 2,587 1,037

16,855 16,662

16,855 16,662 1.2%

5,975 2,637

6,011 2,583

5,975 2,637

6,011 -0.6%

2,583

2.1%

180

209

180

209

-13.9%

3,810 1,054

3,142 1,001

9,210 2,418 1,187 5,179

8,210 2,494

9,210 2,418 1,187 5,179

8,210 12.2% 2,494 -3.0%

460

304

850

39.6%

2,380

2,232

4,453

4,453 16.3%

394 851

414 942

992

965

992

965

2.8%

2,133 6,413

2,307 6,437

2,133 6,413

2,307 -7.5% 6,437 -0.4%

3,043

2,812

316 299

202 280

543 660

433 580

543 660

433 580

25.4% 13.8%

5,832

6,122

14,038 14,480

14,038 14,480 -3.1%

228 676

206 680

509

500

1.8% 5.4%

509

500

1.8% 5.4%

1,688 5,719

1,601 4,979

1,688 5,719

1,601

2,036

1,878

8.4%

14.9%

4,979 14.9%

-23.3%

6.9% 3.3%

6.9%

5,833 1,030

5,692 1,283

2.5%

14,438 13,981

14,438 13,981 3.3%

-19.7%

2,603

2,925

-11.0% 11.6%

2,603

2,925 -11.0%

285 179

290 179

-1.7% 0.0%

759 414

680 422

759 414

680 422

11.6% -1.9%

-1.9%

Top ten ranked brands are shaded.

Data Source: IHS Automotive *March ’15 figures are estimated.

PG: 5 NEW VEHICLE MARKET : new york auto outlook April 2015 Issue

NEWVEHICLE BRANDS

Percent Change in Area Registrations YTD ‘15 thru March* vs. YTD 2014 Top 20 Selling Brands

Area and U.S. New Vehicle Market Share YTD 2015 thru March* Top 20 Selling Brands

13.1

Chrysler

18.7

Honda

9.2

Chrysler, Lexus, Subaru, Jeep, Acura, and GMC registrations increased by more than 11%.

U.S. Area

11.3

16.3

Lexus

Toyota

13.3

10.9

14.9

Subaru

Nissan

7.8

Jeep area market share was 7.2% versus 4.8% in the Nation.

7.2

12.2

Jeep

4.8

6.6

Acura

11.6

Ford

12.6

5.0

GMC

11.5

Mercedes

2.3

4.7

Audi

7.9

Hyundai

4.3

4.5

3.3

Toyota

Subaru

4.2

4.3

2.1

In niti

Chevrolet

10.2

4.0

1.4

BMW

2.3

1.2

4.0

Honda

Lexus

2.4

-0.1

2.5

Chevrolet

Acura

1.2

-0.4

2.1

Mercedes

In niti

0.8

-0.6

2.0

Hyundai

Audi

1.2

2.0

-3.0

Kia

Volkswagen

1.9 1.9

-3.1

Nissan

GMC

3.2

1.9

-6.1

Ford

Kia

3.8

-7.5

Mazda

1.8

Chrysler

1.6

-11.0

Volkswagen

1.7

Mazda

1.9

1.3

Dodge

-16.0

Dodge

2.7

-20% -15% -10% -5% 0% 5% 10% 15% 20%

% change in new retail light vehicle registrations

Market Share

Data Source: IHS Automotive

*Figures for March ‘15 were estimated by Auto Outlook.

USED VEHICLE REPORT

METRO AREA USED CAR AND LIGHT TRUCK REGISTRATIONS February December ‘14Thru February ‘15 YTDThru February 2015 2014 % change Current Previous % change 2015 2013 % change

63,802 52,610 21.3% 158,303 139,729 13.3% 105,722 92,512 14.3 %

INDUSTRY TOTAL

Cars

34,655 28,716 20.7% 86,404 76,621 12.8% 57,326 50,449 13.6% 29,147 23,894 22.0% 71,899 63,108 13.9% 48,396 42,063 15.1% 22,842 19,607 16.5% 56,960 52,089 9.4% 38,048 34,314 10.9% 9,266 7,237 28.0% 23,999 20,238 18.6% 15,839 13,134 20.6% 28,917 23,497 23.1% 70,460 61,360 14.8% 47,266 41,083 15.1%

Light Trucks

PG: 6 new york auto outlook : NEW & USED VEHICLE MARKET April 2015 Issue Detroit Three European Japanese Korean 2-year-old vehicles 3-year-old vehicles 4-year-old vehicles 5-year-old vehicles -15% -12% -9% -6% -3% 0% 3% 6% 9% 12% 15% -10.5 Annual change in used vehicle registrations Annual change in new vehicle registrations

2,777 2,269 22.4% 6,884 6,042 13.9% 4,569

3,981 14.8%

1-year-old or newer vehicles

3,481 2,590 34.4% 11,738 9,698 21.0% 5,863 3,889 2,851 36.4% 11,610 10,059 15.4% 6,585 6,231 5,204 19.7% 14,452 12,953 11.6% 10,492 3,939 2,789 41.2% 8,936 7,161 24.8% 6,895 2,413 1,734 39.2% 5,873 5,457 7.6% 4,114

4,602 27.4% 5,340 23.3%

9,609

9.2%

5,428 27.0% 3,153 30.5%

6-year-old vehicles or older

43,849 37,442 17.1% 105,694 94,401 12.0% 71,773 64,380 11.5%

Data Source: IHS Automotive

Quarterly Percent Change in Area New and Used Vehicle Markets Fourth Quarter 2013 thru First Quarter 2015

Used New

14.3

7.3

6.4

6.3

4.8

3.1

2.8

2.0

-4.8

-5.5

-12.7

Q4 '13

Q1 '14

Q2 '14

Q3 '14

Q4 '14

Q1 '15*

* March, 2015 new vehicle registrations were estimated by Auto Outlook. Used vehicles include January and February only. Data Source: IHS Automotive

Year-To-Date thru February Comparison

New up 2.7%

Used up 14.3%

15%

12%

Data Source: IHS Automotive

COUNTY MARKETS (NEW & USED VEHICLES)

PG: 7 NEW & USED VEHICLE MARKET : new york auto outlook April 2015 Issue

COUNTY NEW AND USED MARKETS

New Retail Registrations

Used Retail Registrations

Dec ‘14 Dec ‘13

YTD ‘15

YTD ‘14

Dec ’14 Dec ‘13

YTD ‘15

YTD ‘14

Thru

Feb ’15 Feb ‘14 Change

February February Change

Feb ’15 Feb ‘14 Change

February

February change

Bronx

4,678 4,027 16% 2,986 11,673 10,462 12% 6,925

2,588 6,375 2,114 3,356 2,842 1,012 8,874 2,919 4,979 14,920 14,742

15%

11,545 9,724 19% 8,086 15,448 13,644 13% 10,447

6,774 9,024 4,515 3,601

19% 16% 12% 17%

Brooklyn Dutchess

3,461 3,407 5,686 5,570

2% 2%

2,087 3,329

-1% -1%

7,543 6,221

6,996

5,059

Manhattan

5,443 14% 4,203

Nassau Orange Putnam Queens Rockland

24,852 24,345 2% 15,016

20,542 18,318 12% 13,666

12,112 13%

4,546 4,455 1,609 1,572

2% 2%

2,776

-2% -3%

9,737 2,305

8,476 15% 6,472 2,014 14% 1,446

5,670 1,300

14% 11%

977

16,033 14,482 11% 9,689

9% 2% 3% 0% 1%

23,464 20,071 17% 15,388

13,178 17%

5,025 4,791 8,238 7,849

5% 5%

2,982 5,133

5,328 5,961

4,790 11% 3,518 5,375 11% 4,021

3,104 3,556

13% 13%

Staten Island

Suffolk

23,657 23,434 1% 14,693

34,021 30,667 11% 22,876 16,188 14,211 14% 10,540

20,428 12%

Westchester

15,557 14,908 4%

9,067

8,939

9,250

14%

TOTALS

125,015 119,302 5% 75,660 73,660 3% 158,303 139,729 13% 105,722 92,512 14%

Data Source: IHS Automotive

Top three are shaded.

new vehicle market share in area counties Top 30 Selling Brands in Area, YTD 2015 Thru February

Brand Honda Toyota Nissan

Bronx Brooklyn Dutchess Manhattan Nassau Orange Putnam Queens Rockland Staten Island Suffolk Westchester

17.0 19.5 12.1

16.2 15.2 11.8

14.6

9.7

12.2

12.4 11.8

15.4

15.9 16.4 14.7

11.6 12.9 10.4

14.3

12.0 10.6 10.8

15.3

9.0 8.8 5.1 7.3 8.6 3.3 3.9 0.9 1.7 3.1 3.7 0.4 2.3 1.1 2.2 0.7 3.1 1.1 2.7 1.0 0.3 0.1 0.5 0.8 0.3 0.1 0.4 0.1

12.1

8.7

7.6 6.3 5.9 7.9 5.7 3.0 3.9 1.2 1.9 2.1 3.6 0.3 3.2 1.9 1.4 1.4 1.8 4.0 2.1 1.0 0.0 0.2 0.4 0.5 0.2 0.2 0.1 0.1

7.3

8.4 7.3 7.8 5.9 8.3 4.2 5.6 2.8 3.7 5.2 5.2 2.2 2.0 1.5 1.0 1.7 2.7 1.5 0.8 0.9 0.8 1.2 0.7 0.8 0.5 0.4 0.5 0.3 0.2

4.6 5.6 4.9 3.9 2.2 2.0 4.6 7.8 2.7 1.3 1.7 2.0 1.1 0.6 5.5 0.8 0.9 0.4 1.8 4.3 0.8 1.4 0.3 0.4 2.2 0.8 0.9

11.4

9.1 6.9

13.5

Jeep Ford

5.9 6.4 3.8 2.9 2.9 4.0 1.9 2.1 3.7 1.2 1.2 1.5 3.2 2.6 0.6 1.5 1.7 0.4 0.5 0.6 0.6 0.2 0.4 0.9 0.1 0.2 0.1

5.5 5.8 2.6 2.0 3.8 3.3 7.5 3.0 2.8 1.4 3.6 1.8 3.9 1.3 1.2 1.0 1.4 0.4 0.6 1.0 0.6 0.3 0.2 0.7 0.3 0.1 0.4

8.1 6.3 3.6 4.6 5.3 4.0 4.0 4.6 2.9 3.5 2.5 1.9 1.7 1.6 2.0 1.9 1.3 1.3 1.3 1.1 0.9 1.0 0.6 0.3 0.4 0.3 0.1

5.9 4.1 3.7 3.0 4.4 4.2 3.9 3.3 2.8 1.3 2.1 2.0 1.8 1.3 1.1 1.4 1.7 0.6 0.7 0.7 0.7 0.4 0.4 0.3 0.2 0.3 0.2

5.4 8.5 8.6 3.7 4.1 4.5 3.1 2.9 1.8 2.0 1.7 1.7 4.3 2.6 1.5 1.5 1.1 1.3 0.8 0.5 0.8 0.7 0.9 0.3 0.2 0.3 0.0

8.1

8.4 8.2 4.0 7.1 3.0 5.2 2.4 2.7 2.2 2.3 1.7 2.8 1.1 2.2 1.6 2.2 1.6 2.7 1.1 0.7 0.8 0.5 0.6 0.7 0.2 0.3 0.1

10.3

Subaru

12.6

7.7 6.9 2.3 5.6 0.9 2.2 1.7 1.7 1.1 2.1 2.6 2.0 0.6 1.8 2.4 2.9 0.9 0.3 1.0 0.3 1.0 1.0 0.3 0.3 0.0

16.2

2.3 4.1 3.8 5.6 5.3 2.6 1.5 2.6 3.3 2.4 1.6 2.7 0.7 1.7 1.1 0.8 0.7 0.6 1.6 0.4 0.3 0.1 0.3 0.1 0.3

Chevrolet Mercedes Hyundai

11.0

Lexus BMW Acura

GMC

Infiniti

Volkswagen

Chrysler

Kia

Audi

Mazda Dodge

Ram

Cadillac

Land Rover

Lincoln

Volvo Buick

Mitsubishi

Porsche

MINI FIAT

Data Source: IHS Automotive

The top three counties for each brand are shaded.

MODELS (NEW & USED VEHICLES)

New Vehicles Top 25 New Models - YTD ‘15 thru February

Used Vehicles Top 25 Used Models - YTD ‘15 thru February

Toyota Corolla Nissan Rogue Honda CR-V Honda Civic Nissan Altima Honda Accord Toyota Camry

Nissan Altima Honda Accord Nissan Rogue Honda CR-V

1,397

2,771 2,769

1,346 1,343

2,728

951

2,351

PG: 1 new york auto outlook : NEW & USED VEHICLE MARKET April 2015 Issue 0 Chevrolet Equinox JeepWrangler Ram Toyota Sienna Mercedes C-Class Ford Fusion Toyota Corolla Nissan Sentra Hyundai Elantra Ford Explorer Hyundai Sonata Lexus RX Toyota Highlander Ford Escape Subaru Forester Jeep Cherokee Toyota Camry Honda Civic Honda Pilot Toyota RAV4 Jeep Grand Cherokee

875

2,150

836

1,999

728

1,938

Toyota Highlander Chevrolet Suburban JeepWrangler BMW 5-Series Ford E-Series Hyundai Elantra Mercedes M-Class Nissan Maxima Mercedes E-Class Volkswagen Jetta Toyota RAV4 Mercedes C-Class Hyundai Sonata Jeep Grand Cherokee BMW 3-Series Honda Pilot Nissan Sentra Toyota Sienna

717

1,840

710 689

1,829

1,340

684

1,097

626

1,090 1,056 1,054

547

520 520

1,043 989

508

486

986 986

471

460

984 949 946 924

441 429

425

424 402 398

914

892 883

300

600

900

1,200

1,500

500 1,000 1,500 2,000 2,500 3,000

New retail light vehicle registrations

Data Source: IHS Automotive

HOW DATA IS COMPILED All data represents retail vehicle registrations in the twelve-county New York Metro Area and excludes fleet and wholesale transactions. March 2015 figures were estimated by Auto Outlook based on recent trends in the Metro Area market, seasonal factors, and results in the National market. Please keep in mind that monthly registration figures can occasionally be subject to fluctuations, resulting in over or under estimation of actual results. This usually occurs due to processing delays by governmental agencies. For this reason, the year-to-date figures will typically be more reflective of market results. For year-to-date figures, most recent month (March) is estimated and previous months are actual.

Any material quoted must be attributed to Auto Outlook and GNYADA, and must also include the statement “Data Source: IHS Automotive.” New and Used Vehicle Auto Outlook is produced by Auto Outlook Inc. for the Greater New York Automobile Dealers Association. Statements contained or incorporated by reference in this publication that are not historical facts (including those that GNYADA or Auto Outlook, Inc. believes, expects, anticipates, plans, intends, foresees, it appears, a fact portends that or other similar expressions) are forward-looking statements. These forward-looking statements are based on the current expectations and beliefs of GNYADA or Auto Outlook concerning future developments and their potential effects on the automobile industry. There can be no assurance that future developments affecting the automobile industry will be those anticipated by GNYADA or Auto Outlook, Inc. These forward-looking statements are based on the current expectations and beliefs of GNYADA and/or Auto Outlook concerning future developments and their potential effects on the automobile industry. Consequently, Auto Outlook and GNYADA are not responsible for management decisions based on the content of New and Used Vehicle Auto Outlook. Data provided by: IHS Automotive GNYADA: 718.746.5900 • info@gnyada.com • 18-10 Whitestone Expressway, Whitestone, NY 11357 Media inquiries: Sams Crispe Communications • 212.560.9494 • questions@samscrispe.com

NEW YORK AUTO OUTLOOK Prepared by: Auto Outlook, Inc. PO Box 390 Exton, PA 19341 Editor: Jeffrey A. Foltz NewYork Auto Outlook is published by the Greater NewYork Automobile Dealers Association and is provided free of charge to all members as an added benefit of Association membership. Copyright GNYADA, April 2015

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