JAN. 2015 NY Auto Outlook

Data Thru December 2014

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

DECEMBER VEHICLE SALES REPORT

metro area new retail car and light truck registrations

For this issue (and last month’s), we’ve separated out the data for the three new counties that joined GNYADA in 2014. See page 6 for the highlights. Starting next month, their data will be incorporated into the totals shown here. This table shows new retail light vehicle (car and light truck) registrations in the nine- county New York Metro Area. Figures exclude fleet transactions. * December 2014 figures were estimated by Auto Outlook.

December Estimate*

November Actual

YTD thru December*

2014 2013 % chg.

2014 2013 % chg.

2014 2013 % chg.

Industry Total

45,558 42,184 8.0% 38,803 35,668 8.8% 512,850 489,312 4.8%

Cars

22,055 21,063 4.7% 18,076 18,208 -0.7% 245,147 255,642 -4.1% 23,503 21,121 11.3% 20,727 17,460 18.7% 267,703 233,670 14.6%

Light Trucks

Detroit Three

11,215 10,022 11.9% 9,720 8,299 17.1% 130,791 116,445 12.3% 10,101 9,577 5.5% 8,103 7,765 4.4% 93,210 93,148 0.1% 21,580 20,199 6.8% 18,662 17,178 8.6% 254,897 243,962 4.5% 2,662 2,386 11.6% 2,318 2,426 -4.5% 33,952 35,757 -5.0%

European Japanese

Korean

1. Area new vehicle market increased an estimated 8% in December of 2014 versus a year earlier. U.S.market was up 11% . 2. Area market increased 4.8% from 2013 to 2014, compared to 6.8% Nationally.

THIS MONTH’S SUMMARY The Metro Area new vehicle market had a very good year in 2014. New retail registrations exceeded 512,000 units (December figures were estimated), with the market increasing 4.8% from 2013. The gains are expected to continue in 2015 as well with total registrations predicted to approach 530,000 units.

3. The market is predicted to improve 3.3% from 2014 to 2015. 4. SUV market share rose to 43.8% last year, up 4.1 points from 2013. 5. Jeep , Subaru , GMC , Mazda , Lexus , and Audi registrations increased by 13% or more in 2014. 6. Area used vehicle market was down 1.3% for the first eleven months of this year.

months 11

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 NOVEMBER RESULTS

12% 16% 20%

Percent Change in Area Registrations November 2014 vs. November 2013

0% 4% 8%

8.8%

8%

November new retail light vehicle registrations in the Metro Area were 38,803 units, up 8.8% compared to a year earlier. Auto Outlook had projected an 8% increase, with a total of 38,521. The actual total was only 282 units higher than the estimate. Auto Outlook is predicting that December sales increased by 8% versus a year earlier. We will report on the accuracy of that projection in the February 2015 release.

-8% -4%

-20% -16% -12%

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

Actual % change Auto Outlook projected % change

RECENT RESULTS IN NEWVEHICLE MARKET

Monthly New Retail Light Vehicle Sales 2013 and 2014*

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

12%

Metro NY U.S.

The area market increased 4.8% in 2014, whilethe U.S. market was up 6.8%.

2014 2013

10%

11.0

8%

8.8

8.0

6%

7.2

6.8

4%

4.8

Monthly registrations increased by an estimated 8% in December 2014.

2%

0%

Change December '14* vs. December '13

Change November '14 vs. November '13

Change YTD '14 thru December* vs. YTD '13

Oct

Jun

Dec

Aug

* Figures for December 2014 were estimated by Auto Outlook.

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 410,906 -9.1% 2009 351,809 -14.4% 2010 397,196 12.9% 2011 413,207 4.0% 2012 461,113 11.6% 2013 489,312 6.1% 2014* 512,850 4.8% 2015 530,000 3.3% Forecast

Area registrations are predicted to increase by more than 17,000 units in 2015.

530,000

512,850

489,312

461,113

413,207

410,906

397,196

351,809

2007 2008 2009 2010 2011 2012 2013 2014* 2015 Forecast

NEWVEHICLE SEGMENTS

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

Detroit Three market share increases by 1.7 share points in 2014

Market Share - YTD 2014 thru December*

Change in share: YTD ‘14 thru December* vs. YTD ‘13

Korean 6.6%

Detroit Three

1.7

Japanese

-0.2

European 18.2%

Japanese 49.7%

Korean

-0.7

Detroit Three 25.5%

European

-0.8

0.5

1.5

1.0

0.0

2.0

-0.5

-1.0

Source: Polk

Passenger car market share falls by 4.4 points in 2014

Market Share - YTD 2014 thru December*

Change in share: YTD ‘14 thru December* vs. YTD ‘13

Pick ups/Vans 8.4%

SUVs

4.1

Pickups/Vans

Passenger Cars 47.8%

0.3

SUVs 43.8%

Passenger Cars

-4.4

2.0

4.5

7.0

-3.0

-8.0

-5.5

-0.5

Source: Polk

Electric vehicle market share is just 0.1%

Market Share - YTD 2014 thru November

Change in share: YTD ‘14 thru November vs. YTD ‘13

Diesel 1.2%

Electric 0.1%

Hybrid 2.9%

Gasoline

0.2

Diesel

0.1

Electric

-0.1

Gasoline 95.8%

Hybrid

-0.2

0.0

0.1

0.2

0.3

0.4

-0.3

-0.2

-0.1

Source: Polk

*Figures for December ‘14 were estimated by Auto Outlook.

NEWVEHICLE BRANDS

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

December Estimate*

Three Month Period (Oct‘14 thru Dec‘14)

YTD thru December*

2014*

2013 % change

2014*

2013 % change

2014*

2013 % change

PG: 4 new york auto outlook : NEW VEHICLE MARKET January 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

45,558 42,184

8.0% 124,609 115,594 7.8% 512,850 489,312 4.8%

22,055 21,063

4.7%

59,100 58,778

0.5%

245,147 255,642 -4.1%

23,503 21,121

11.3%

65,509 56,816

15.3%

267,703 233,670 14.6%

11,215 10,022

11.9%

30,771 27,635

11.3%

130,791 116,445 12.3%

10,101 9,577

5.5%

25,783 25,126

2.6%

93,210 93,148 0.1%

21,580 20,199

6.8%

60,795 55,366

9.8%

254,897 243,962 4.5%

2,662

2,386

11.6%

7,260

7,467

-2.8%

33,952 35,757 -5.0%

1,091 1,053 2,709

977 943

11.7% 11.7%

3,467 2,959 6,546 1,373 5,101 1,906 1,600 821

2,942 2,599 6,194 1,531 4,762 1,540 1,612 680

17.8% 13.9%

12,256 12,561 -2.4% 11,237 9,876 13.8% 23,340 22,879 2.0%

2,467

9.8%

5.7%

343 543

263 619

30.4% -12.3% 19.1% 50.8% -3.6% -0.9% -0.6% 21.5% -1.2% 17.4% 34.0% -1.6% 13.4% 19.8% 6.7% 2.9% -1.7% 0.0% 7.9% -1.2% 33.3% 22.8% 12.1% 11.0% -1.1% -0.7% 37.8% 1.2% -10.3% 6.8%

20.7% -10.3%

3,295 6,267

3,129

5.3%

7,026 -10.8%

1,918

1,611

7.1%

21,636 20,871 3.7%

796 561 107

528 582 108

23.8% -0.7% -7.2% -7.3% 29.6% 3.5% -7.1% -5.0% -15.9% 30.4% -11.7% 17.0% 12.5% 18.1% 0.2% -1.0% 21.4% 6.5% 61.6% 30.2% -21.6% 9.8% -1.3% 2.3% 20.0% 9.0% 6.9%

7,565 7,715 1,305

7,290 7,597

3.8% 1.6%

271

292

1,407 -7.2%

2,468

2,484

6,882 2,220

7,423 1,713

31,480 31,920 -1.4%

853

702

8,373

6,969 20.1%

5,819 1,780 1,023

5,887 1,759 1,141

16,868 16,304

72,603 73,328 -1.0% 23,876 26,022 -8.2% 10,516 10,665 -1.4%

5,015 2,814

5,399 2,963

63

59

169

201

806

993

-18.8%

2,853

2,430

8,205 2,203

6,293 2,068 1,020 4,574

33,912 23,417 44.8%

840 437

627 444

10,034 9,735

3.1% 0.0%

901

3,641

3,640

2,369

2,089

5,353 1,106 1,921 9,130

19,070 16,256 17.3%

406 608

339 570

983

3,969 9,253

3,688

7.6%

1,626 9,111

7,727 19.7%

3,712

3,607

30,076 28,571 5.3%

177 135

180 135

503 471

508 388

2,039 2,140

2,289 -10.9% 1,614 32.6%

4,145

3,842

11,460 10,509

50,511 49,014 3.1%

169 532

171 399

571

534 969

2,538 6,146

2,340

8.5%

1,566 4,635

3,883 58.3%

1,567

1,276

3,560

18,521 14,833 24.9%

65

58

91

116

475

568

-16.4%

4,748 1,114

4,279 1,126

13,723 12,496

59,932 57,904 3.5% 12,959 15,999 -19.0%

3,389

3,432

284 270

286 196

768 601

751 501

3,162 2,202

3,682 -14.1% 1,619 36.0%

Top ten ranked brands are shaded.

Data Source: Polk. * December ’14 figures are estimated.

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

NEWVEHICLE BRANDS

Percent Change in Area Registrations 2014* vs. 2013 Top 20 Selling Brands

Area and U.S. New Vehicle Market Share 2014* vs. 2013 Top 20 Selling Brands

14.2

Jeep

44.8

Honda

9.9

U.S. Area

11.7

Subaru

24.9

Toyota

13.5

Jeep, Subaru, GMC, Mazda, Lexus, and Audi each had big increases last year.

9.8

GMC

20.1

Nissan

7.5

6.6

19.7

Mazda

Jeep

4.5

6.1

Lexus

17.3

Ford

12.5

5.9

Audi

13.8

Mercedes

2.3

Honda area market share was 14.2% versus 9.9% in the Nation.

4.7

Mercedes

5.3

Hyundai

4.2

4.6

3.8

Chrysler

BMW

2.2

4.2

Chevrolet

3.7

Chevrolet

10.4

3.7

Toyota

3.5

Lexus

2.2

3.6

3.1

Kia

Subaru

3.7

2.5 2.3 2.4

3.1

Nissan

Volkswagen

BMW

2.0

Acura

1.2

2.2

Dodge

1.6

Audi

1.2

2.1

-1.0

Honda

In niti

0.8

2.0

In niti

-1.4

Kia

3.7

1.8 2.0

Ford

-1.4

Mazda

1.6

-2.4

Acura

GMC

3.1

1.5

-8.2

Hyundai

Chrysler

1.3 1.5

Volkswagen

-19.0

Dodge

3.0

-20% -10% 0% 10% 20% 30% 40% 50%

0% 3% 6% 9% 12% 15%

Market Share

% change in new retail light vehicle registrations

Figures for December ‘14 were estimated by Auto Outlook.

SPECIAL ANALYSIS: COVERAGE OF DUTCHESS, ORANGE, AND PUTNAM COUNTY MARKETS

Dutchess, Putnam, and Orange Counties are now being represented by GNYADA. This page highlights the market activities in those counties. In 2014, the increase in registrations in this three county market is slightly higher than in Metro New York City.

Three County Market New Retail Car and Light Truck Registrations November Actual

YTD Thru November

PG: 6 new york auto outlook : SPECIAL ANALYSIS / THREE COUNT Y MARKET January 2015 Issue Cars Light Trucks Detroit Three European Japanese Korean 0% 3% 6% 9% 12% 15% 5.7 Source: Polk Source: Polk

2014

2013

% chg.

2014

2013

% chg.

Industry Total

3,095

3,068

0.9%

41,235

39,238

5.1%

1,375 1,720

1,451 1,617

-5.2% 6.4%

19,361 21,874

20,120 19,118

-3.8% 14.4%

1,025

936 402

9.5% -1.0% -0.9%

13,399

11,961

12.0% -3.5%

398

4,120

4,268

1,489

1,503

20,581

19,403

6.1%

183

227

-19.4%

3,135

3,606

-13.1%

Percent Change in Metro Area and Three County Area New Vehicle Registrations

Metro NYC 3 Counties

12.9

11.6

8.1

6.9

6.1

6.1

5.1

4.5

4.0

Change 2010 vs 2009

Change 2011 vs 2010

Change 2012 vs 2011

Change 2013 vs 2012

Change YTD '14 vs YTD '13

1. The Three County new vehicle market increased 0.9% in November of 2014 versus a year earlier. Nine county Metro Area market was up 8.8% . 2. Year-to-date thru November increase in the Three County market was 5.1% . 3. Car registrations declined slightly so far this year, while light trucks were up by 14.4% . 4. Three County area new retail light vehicle registrations were up by more than 10% for the following brands: Jeep , Ram , Audi , Mitsubishi , Subaru , Lexus , GMC , Mazda , Porsche , Nissan , and Chrysler . 5. Area market share leaders were Honda , Toyota , Subaru , Ford , and Nissan . Honda’s market share was 14.8% during the first 11 months of this year, three points higher than second place Toyota.

USED VEHICLE REPORT

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

METRO AREA USED CAR AND LIGHT TRUCK REGISTRATIONS November SeptemberThru November YTDThru November 2014 2013 % change Current Previous % change 2014 2013 % change

41,082 38,939 5.5% 131,209 138,304 -5.1% 527,615 534,315 -1.3 %

INDUSTRY TOTAL

Cars

22,086 21,670 1.9% 71,663 77,663 -7.7% 292,119 303,172 -3.6% 18,996 17,269 10.0% 59,546 60,641 -1.8% 235,496 231,143 1.9% 15,093 14,548 3.7% 46,983 50,566 -7.1% 187,713 196,935 -4.7% 6,356 5,825 9.1% 20,748 20,804 -0.3% 83,001 80,193 3.5% 17,885 17,010 5.1% 57,644 61,215 -5.8% 234,230 235,942 -0.7% 1,748 1,556 12.3% 5,834 5,719 2.0% 22,671 21,245 6.7% 4,690 3,705 26.6% 13,363 12,342 8.3% 37,649 36,740 2.5% 3,705 3,551 4.3% 11,402 11,845 -3.7% 37,336 38,410 -2.8% 3,424 3,011 13.7% 11,848 11,628 1.9% 55,103 51,812 6.4% 1,602 1,362 17.6% 5,172 4,881 6.0% 23,850 21,675 10.0% 1,427 1,805 -20.9% 4,535 6,575 -31.0% 18,136 25,516 -28.9% 26,234 25,505 2.9% 84,889 91,033 -6.7% 355,541 360,162 -1.3%

Light Trucks

Detroit Three

European Japanese

Korean

1-year-old or newer vehicles

2-year-old vehicles 3-year-old vehicles 4-year-old vehicles 5-year-old vehicles

6-year-old vehicles or older

Data Source: Polk.

Quarterly Percent Change in Area New and Used Vehicle Markets Third Quarter 2013 thru Fourth Quarter 2014

10% 15% 20%

Used New

19.1

14.8

7.8

0% 5%

2.5

5.3

4.9

4.4

4.7

-5.6

-6.1

-15% -10% -5%

-11.8 -13.6

Q3 '13

Q4 '13

Q1 '14

Q2 '14

Q3 '14

Q4 '14*

* New vehicle figures for the Fourth Quarter of 2014 are thru December. (December figures were estimated). Used vehicles include October and November only.

Year-To-Date Comparison (thru November)

YTD change in used vehicle registrations

Used down -1.3%

YTD change in new vehicle registrations

New up 4.5%

4%

-1%

5%

-2%

0%

2%

3%

1%

COUNTY MARKETS (NEW & USED VEHICLES)

COUNTY NEW AND USED MARKETS

New Retail Registrations

Used Retail Registrations

Sep ‘14 Sep ‘13

YTD ‘14

YTD ‘13

Sep ’14 Sep ‘13

YTD ‘14

YTD ‘13

Thru

Thru

%

Thru Nov

Thru Nov

%

Thru

Thru

%

Thru Nov

Thru Nov

%

Nov ’14 Nov ‘13 Change

Change

Nov ’14 Nov ‘13 Change

change

Bronx

5,014 4,162 20% 19,032 16,906 13% 10,125 9,998 1% 42,370 11,801 10,340 14% 44,754 42,158 6% 14,450 14,983 -4% 58,672

41,113 3% 59,317 -1% 26,371 -6% 82,121 -4% 88,332 -2% 19,869 1% 24,412 -5%

Brooklyn

PG: 8 new york auto outlook : NEW & USED VEHICLE MARKET January 2015 Issue Top three are shaded. Manhattan Nassau Queens Rockland Staten Island Suffolk Westchester TOTAL Brand Honda Toyota Nissan Jeep Ford Mercedes Hyundai BMW Chevrolet Subaru Lexus Volkswagen Acura Audi Infiniti Kia Mazda GMC Dodge Chrysler Cadillac Ram Lincoln Land Rover Buick Volvo Porsche Mitsubishi Other MINI

6,233 5,966 4% 24,717 23,806 4%

5,929 6,201 -4% 24,840

26,612 25,371 5% 99,873 98,539 1% 19,825 20,980 -6% 78,781 17,441 16,027 9% 64,609 60,646 7% 21,447 22,671 -5% 86,642

5,219 4,975 5% 19,968 19,132 4% 8,451 7,854 8% 32,351 31,604 2%

4,988 5,248 -5% 20,070 5,759 6,009 -4% 23,129

26,395 24,995 6% 99,721 93,745 6% 33,325 35,679 -7% 132,766 132,826 0% 16,678 15,790 6% 62,267 60,592 3% 15,361 16,535 -7% 60,345 59,954 1%

123,844 115,480 7% 467,292 447,128 5% 131,209 138,304 -5% 527,615 534,315 -1%

Data Source: Polk.

new vehicle market share in area counties Top 30 Selling Brands in Area, YTD 2014 Thru November

Bronx

Brooklyn Manhattan

Nassau

Queens

Rockland Staten Island Suffolk

Westchester

17.9 18.1 12.6

17.7 16.0 10.3

9.5

12.8

16.9 16.9 12.7

14.0 15.0 10.2

14.9

12.3 10.3

15.2

10.8

9.4

8.5

8.9 6.4 7.3 5.9 6.4 3.1 6.1 3.8 6.9 3.9 2.3 4.2 3.1 2.0 1.6 1.8 1.7 1.1 0.8 1.0 0.9 0.8 0.7 0.7 0.8 0.7 0.3 0.4 0.6

4.8 5.7 4.6 2.4 9.6 2.3 3.0 4.5 2.8 2.2 5.6 1.3 0.9 1.3 1.2 1.2 0.7 1.4 0.4 0.6 2.6 0.3 1.3 2.2 0.3 1.3 1.0

10.4

11.6

9.9 8.2 7.9 4.0 6.2 3.3 6.6 3.3 2.2 3.2 1.5 1.8 1.5 2.3 2.3 1.7 1.9 1.1 1.4 2.5 0.8 0.5 0.7 0.5 0.4 0.6 0.2 0.4

5.3 5.9 2.9 5.5 2.4 4.3 2.6 2.2 2.2 3.1 0.7 1.1 2.6 1.2 1.1 2.2 1.4 0.8 0.3 0.6 0.3 0.7 0.2 0.1 0.9 0.2 0.2

4.5 5.1 4.9 3.1 4.1 2.9 2.4 6.0 2.2 2.3 1.4 3.0 1.6 1.2 0.8 1.5 3.3 0.8 0.5 0.6 0.8 0.3 0.5 0.4 0.6 0.5 0.4

7.3 5.6 6.8 5.0 4.9 3.9 3.2 3.5 2.5 2.5 2.7 2.3 1.6 2.1 2.5 1.5 1.4 1.8 1.2 0.8 0.7 0.8 0.8 0.6 0.3 0.4 0.3

5.3 4.3 5.0 4.8 3.5 3.7 3.0 3.5 2.3 2.5 1.5 2.0 1.7 1.5 0.9 1.6 1.4 0.9 0.6 0.5 0.5 0.4 0.3 0.3 0.4 0.4 0.3

5.3 7.2 4.7 5.2 3.2 3.2 6.3 2.8 1.7 1.9 1.8 1.4 2.6 2.0 1.3 1.5 2.6 0.9 1.1 0.8 0.3 0.7 0.6 0.2 0.3 0.4 0.4

6.4 9.6 4.7 5.5 3.4 3.5 2.1 4.6 2.7 1.3 1.1 3.2 3.9 1.9 1.8 1.4 1.3 1.1 1.0 1.6 0.5 0.6 0.3 0.2 0.3 0.3 0.2

12.5

Data Source: Polk.

The top three counties for each brand are shaded.

MODELS (NEW & USED VEHICLES)

PG: 9 NEW & USED VEHICLE MARKET : new york auto outlook January 2015 Issue

New Vehicles Top 25 New Models - YTD 2014 thru November

Used Vehicles Top 25 Used Models - YTD 2014 thru November

Toyota Corolla BMW 3-Series Nissan Rogue Honda CR-V Honda Civic Nissan Altima Toyota Camry Honda Accord

Honda Civic Honda CR-V Honda Accord

20,345

7,397

7,071

18,639

6,914

13,763 13,231 13,563

Hyundai Elantra Honda Odyssey Toyota Highlander JeepWrangler Nissan Sentra Mercedes E-Class Toyota Corolla Ford Escape Subaru Forester Toyota Sienna Honda Pilot Lexus RX Jeep Cherokee Hyundai Sonata Toyota RAV4 Nissan Rogue Toyota Camry Nissan Altima Jeep Grand Cherokee

5,313

4,939

4,517

12,461

4,358

11,947 11,862

3,726

In niti G Mercedes M-Class Honda Odyssey Hyundai Elantra Ford Escape Nissan Maxima Nissan Sentra Mercedes E-Class Volkswagen Jetta BMW 5-Series Toyota RAV4 Ford E-Series Toyota Sienna Jeep Grand Cherokee Mercedes C-Class Honda Pilot Hyundai Sonata

3,541

8,383

3,322 3,279

7,311

6,697 6,695 6,319

Accord, Camry, and Altima were at the top of the used vehicle sales chart.

Three Hondas were at the top of the new vehicle sales chart.

3,140

3,081 3,045

6,117 6,044

2,990

2,581 2,576

6,007 5,961 5,794

2,564

2,465

5,727 5,722 5,589 5,336 5,285

2,405 2,388 2,305

Ram BMW 3-Series Ford Explorer

2,261 2,232 2,212

5,205 5,022

0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000

0

5,000 10,000 15,000 20,000 25,000

Used retail light vehicle registrations

New retail light vehicle registrations

HOW DATA IS COMPILED All data represents retail vehicle registrations in the New York Metro Area and excludes fleet and wholesale transactions. December 2014 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 (December) is estimated and previous months are actual. Historical registration figures were recently updated by Polk, and will differ slightly from those presented in previous issues.

Any material quoted must be attributed to Auto Outlook and GNYADA. 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: Polk 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, January 2015