The Official Publication of the Hawaii Automobile Dealers Association
2016 4th Quarter Edition
Jim Falk is Hawaii’s 2017 Dealer of the Year
Jim Falk’s Maui dealerships provide 400 to 500 bicycles and helmets to kids at Christmastime. See story page 14
Also in this Edition...
Pete Luke and Byron Hansen emceed the Awards Night at the HADA convention on Kauai which drew a record 262 attendees. See page 10
New vehicle registrations leveling off — see Hawaii Auto Outlook. Page 26
The “Bloody Thorn” — a story shared at the annual meeting of the association. See page 11
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Hawaii Automobile Dealers Association 1100 Alakea Street, Suite 2601 Honolulu, HI 96813 ‡ )D[
2012-2013 2016-2017 HADA HADA O FFICERS & DIRECTORS OFFICERS & DIRECTORS PRESIDENT Mike Niethammer Brian Kitagawa PRESIDENT-ELECT Bill vanUekawa den Hurk John VICE ICE P PRESIDENT RESIDENT V (ULF )XNXQDJD Eric Fukunaga SECRETARY ECRETARY S Joe Nicolai Wayne De Luz TREASURER TREASURER Kenny Ching John Uekawa NADA DIRECTOR NADA DIRECTOR Stan JoeMasamitsu Hanley HAWAII DIRECTOR HAWAII DIRECTOR Jackie De Luz Watanabe Wayne De Luz MAUI DIRECTOR MAUI DIRECTOR Jim Falk 'DPLHQ )DULDV KAUAI DIRECTOR O AHU DIRECTOR Mike Niethammer Stan Masamitsu OAHU DIRECTOR OAHUMasamitsu DIRECTOR Stan Morrie Stoebner OAHU DIRECTOR Michael OAHU DStoebner IRECTOR Jack Jackson OAHU DIRECTOR NickDCutter OAHU IRECTOR Keppel ODan AHU D IRECTOR
Owning a business is sometimes hard; it comes as a privilege, with many parts we love I remember when I would ask our family elders about the history of the family auto business, which spanned two world wars and two devastating tsunamis, they would just shrug and say, “It was hard.� I’m the great-grandson of I. Kitagawa and Co.’s founder Isojiro Kitagawa, who founded a fishing supply company in Hilo in 1905, one year after coming from Japan. He recognized the value of the gasoline-powered engine for boats and soon started a parts and repair business for engines. He started selling cars and trucks in 1937. The gasoline-powered engines have been around for more than a hundred years, but now we are seeing more and more electric-powered vehicles and even the advent in Hawaii of hydrogen-powered cars. Managing it all, what with all the inventory challenges and all the government regulations is something, when asked about it years from now, I’m sure I’ll also say, “It was hard.� Owning a business thousands of miles away from your suppliers is indeed hard, but it is also a privilege, and something we all love. As you read the story about Jim Falk, Hawaii’s nominee for TIME dealer of the Year, you’ll learn about someone who loves the business.
Mark Benson KAUAI DIRECTOR AT-L ARGE DIRECTOR Dan Mackey
Thanks for reading the HawaiiDealer. It’s the steering oar that we use to hold a course for the association.
Marc Cutter AT LARGE DIRECTOR ATKeoni -LARGEHansen DIRECTOR
Here’s to a great 2017.
Keoni Hansen IMMEDIATE PAST PRESIDENT IMMEDIATE PAST PRESIDENT Nick Cutter
Brian Kitagawa 2017, 2018 HADA president
Bill van den Hurk
HADA STAFF HADA STAFF ([HFXWLYH 'LUHFWRU Dave D Rolf EXECUTIVE IRECTOR Dave Rolf 'HDOHU 6HUYLFHV 0DQDJHU *HRUJH &RFKDUG
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HawaiiDealer is published quarterly by the Hawaii Automobile Dealers Association, 1100 Alakea Street, Suite 2601, Honolulu, HI 96813 Phone: 808 593-0031 Fax: 808 593-0569 Email: drolf@hawaiidealer.com
4
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2016 NADA Washington Conference
Congresswoman Tulsi Gabbard was thanked for her support as co-sponsor of H.R. 1737—the bill to rescind the March 2013 Guidance on dealer-assisted financing issued by the Consumer Financial Protection Bureau, which used flawed data to arrive at their conclusions in issuing the guidance.
NADA’s Laura Perotta (in foreground) provides information on a Senate bill to rescind the flawed March 2013 Guidance issued by the CFPB. U.S. Senator Mazie Hirono (D-Hi) had earlier joined as one of the signers of a bipartisan letter request to CFPB – signed by 11 Democrat senators and 11 Republican senators seeking information on the methodology the CFPB officials had used to gather the data on dealer-assisted financing. Stan Masamitsu is shown at the left with Senator Hirono. Washington Staff members Joe McGarvey and Dan Kouchi (the son of Hawaii State Senate Ron Kouchi) are shown at the right. Seated also but not shown are Keoni Hansen and Dave Rolf.
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Hawaii’s NADA director Stan Masamitsu, left, and Keoni Hansen, HADA NextGen dealer representative joined HADA executive director Dave Rolf (not shown) in making visits to Hawaii’s Congressional delegation on the Hill during the NADA Washington Conference this past September.
A reception for the 400 dealers and auto trade association staff members who attended the conference was held at the National Portrait Museum in Washington D.C. Stan and Keoni posed with a picture of Babe Ruth. Keoni, while in college at the University of Hawaii, was a member of the UH baseball team.
Pineapple shortbread cookies and a hand-signed note were sent in advance to all the Hawaii members of Congress in advance of the meetings on the Hill, accompanied by a NADA briefing packet that provided background on issues relating to the retail auto industry.
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A Great 2016 HADA Convention! President Bill Van Finishes His 2-Year Term Citing “One for All; All for One” HADA Theme
T
he HADA convention, held October 13-16 Bill van den Hurk at the Grand Hyatt Kauai Resort and Spa, 2016 HADA president was three days of relaxing fellowship with the membership, complete with receptions, banquets, a general breakfast meeting with election of directors and officers, two great golf tournaments, a tennis tournament and some outstanding presentations and remarks from the podium. Bill van den Hurk, completing activity-filled times as HADA president, during remarks at the general meeting of the association, cited his theme of “one for all; all for one”—something he made frequent reference to during his two years at the HADA helm. The association’s members helped other businesses secure 40,000 signatures on a petition to U.S. Army officials supporting the continued presence of the numbers of military personnel stationed in the islands. During Bill’s term, the association initiated a bill in the state legislature to encourage online registration of used vehicles, and followed up that 2015 bill with Bill 64 (2016) in the Honolulu City Council, to set a deadline of July 1, 2017. Convention sponsors donated a record $102,000 to help make the annual gathering a special event, and some 262 members and guests made for the largest number of HADA members to attend any of the 57 conventions held so far. Much thanks goes to all the sponsors, golf co-chairs, Pete Luke and Byron Hansen, tennis chair Bob Gardiner, Bill van den Hurk for helping co-chair the event, and to co-chair Ryan Mackey for arranging for the hotel room block, the golf, and entertainment.
Pete Luke, left and Byron Hansen emceed the Awards Night at the 57th HADA Convention
Speakers, in addition to Bill Van, at the HADA convention included…
Jeff Carlson, 2016 NADA national chairman
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Michael Harrington, NADA vice-president of legislative affairs
Keoni Hansen, HADA NextGen dealer representative
Stan Masamitsu, Hawaii’s NADA director
The Story of the Bloody Thorn: A tax that had hobbled dealership operations was removed Of the many stories told from the podium at the HADA convention one dealt with the removal of the 4% tax on reimbursements dealers receive from manufacturers for repairs done to fulfill the manufacturer’s warranty. Starting in 2009, the tax was reduced to the wholesale (.5%) level on reimbursements for parts and labor. HADA testimony on a bill the association initiated at the legislature in that year had referenced the tax (the only one of its kind in the nation) as a “thorn that was in dealers’ feet.” A visual, using a real bougainvillea thorn was used during the testimony. Representative Jimmy Tokioka, who spoke at the convention, and who played a key role in keeping the legislation alive back then, which eventually resulted in removal of the GET tax, and on Oahu, the accompanying .5% City and County of Honolulu surcharge, made reference to the bloody thorn. Thanks to the HADA-initiated bill and key legislative action the tax is now at the wholesale level. A State of Hawaii Department of Taxation memo notes that extended service warranty payments —if made from the manufacturer of the vehicle, are also included in the full gross excise tax exclusion, noting that the wholesale level applies if the warranty is from the manufacturer. Dealers can contact Dave Rolf at drolf@hawaiidealer.com for a copy of the tax department memo.
Next Year… The HADA convention next year will be held on Maui at the Fairmont Kea Lani October 5-8, 2017. The hotel room block, with 840-square foot suites starting at $249/night will be available for online reservations starting on January 27, 2017.
Note: Michael Eggerling made a presentation relating to “power” words that are found on top-selling websites. A confidential evaluation of all 70 HADA dealer websites was provided at the back of the room at the end of the meeting.
Representative Jimmy Tokioka from Kauai
State Senate President Ron Kouchi from Kauai
Michael Eggerling
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The Hawaii Association of Broadcasters worked with the video production team at Chiefess Kamakahelei Middle School to produce a humor-filled video of HADA golfers enjoying the Friday golf tournament. In leis, student members of the video team shown (l-r) are Kolton Gusman, Taylor Nishimoto, and Mia Matsunaga, with Teacher/Advisor Kevin Matsunaga shown standing behind. HAB members (l-r) are Chris Leonard, John Fink, Gregg Mueller, and Mike Kelly.
The great swimming pool at the Grand Hyatt Kauai Resort and Spa, that flows like a river, is one of the renowned features of the hotel.
The HADA board of directors met prior to the beginning of the convention, with 2016 NADA chairman Jeff Carlson (4th from left, back of table) present to provide insights about national issues facing auto dealers.
Waimea Canyon art cards thanking members for attending, were accompanied by Kauai's famed “Chocolate Opihi” candies and were delivered by HADA to the rooms of each of the convention’s 262 attendees.
The sponsor banner greeted attendees at every event.
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NADA chairman Jeff Carlson, (far right) a Colorado dealer, officiated at the swearing in ceremony for the 2017 HADA officers and directors during the general meeting of the association Friday morning, October 14, 2016. Shown left to right are Bill van den Hurk, immediate past president; Brian Kitagawa, president; John Uekawa, president-elect; Kenny Ching, treasurer; Wayne De Luz, secretary; Stan Masamitsu, Oahu director and NADA director; Michael Stoebner, Oahu director; Mark Benson, Oahu director; Keoni Hansen, director-at-large; Jackie De Luz Watanabe, Hawaii Island director; and Jim Falk, Maui director. Not shown are: Nick Cutter, Oahu director; Mark Cutter, at-large-director; Eric Fukunaga, vice president; and Mike Niethammer, Kauai director.
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Acting on a Dream Starting with a dream of owning a dealership on Maui, Jim Falk, now with multiple franchises, is nominated for TIME Dealer of the Year
A
cting on a dream to own a car dealership in Maui, Jim Falk at age 24 made a single phone call that resulted in becoming a Ford dealer on Maui.
Jim was born in San Francisco in 1961, the son of a successful car salesman, Gerry G. Falk and his wife Bonnie. Growing up around the car business, he was soon washing cars at age 14, shuttling them at 16 and while on summer break from college at age 18, he started selling cars. “Selling cars was something I truly enjoyed,“ says Jim, who went on to graduate from the University of California, Santa Barbara, with a B.A. in business and economics. “In 1980, my dad purchased Burlingame Ford in Burlingame, California – just South of San Francisco “said Jim. “It was a tough time to be in the car business, interest rates were 20 per cent.” Jim, was a sales manager still in his twenties when he sat down one afternoon with F&I manager Gene Viglione, who had been working in the car business for decades. Jim said he asked the senior manager, “if you could own a car dealership anywhere in the world, where would it be?” Gene said, “A Ford store on Maui. Let’s call them.” Gene picked up the phone and called 4-1-1. He spoke to the dealer and asked him if he wanted to sell and the dealer said yes. “About a year later Gene and I were in business.” “I was young, so young I guess I didn’t know there was anything you couldn’t do.” Jim was a dealer at 24 and the dealership soon became very successful. “It was 1985. We threw a low of effort into it,” Jim said, “and it just took off, with what one might call abnormal success.” Jim and Gene ran the store together at first, but they reached a buyout agreement and Gene retired in 1988. “Maui is limited in size, so in the early 90’s started looking to add a dealership in Los Angeles. I wanted a store located just off an LA Freeway.’ In that year, after looking at a dealership group that was selling stores, Jim declined the one offered, but asked about
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Jim Falk, the 2017 Hawaii State Dealer of the Year, has 14 franchises on Maui as well as his Lexus store in Beverly Hills, California.
the group’s Lexus store in Beverly Hills, which was located about six blocks from Rodeo Drive. The company was reluctant to sell it at first but eventually agreed, when Jim offered to accept their price. At the time Jim was making an offer on the store, the federal government was considering placing a 10% luxury tax on automobiles like Lexus. Jim said his timing turned out well. He closed the deal shortly after government officials shelved the vehicle luxury tax idea. Jim moved to Beverly Hills, in 1996 at age 35 to run the dealership. The Lexus store was located on about 30,000 square feet and only doing about 50 cars a month. It expanded rapidly. “Last month, the Beverly Hills store sold over 600 vehicles,’ he said. For ten years, he traveled back and forth from L.A. To Maui regularly but said, “I couldn’t wait to move back to Maui.” ‘I love Maui,” adding “it’s a wonderful community and you have many repeat customers and long term employees.” “And being gone like that, and commuting, you always have a lot of work waiting for you when you arrive” “Coming back to Maui was so much fun,” he said. He now has 14 franchises and 4 stores on Maui. This year, Hawaii’s new car dealers nominated Jim as Hawaii’s representative in the competition for Time Dealer of the Year for 2017. The award is one of the automobile industry’s most prestigious honors. Some 49 dealers across the country share the honor of being nominated for the national dealer of the year. These dealers are
among the nation’s most successful dealers and all share a deep interest in serving their respective communities.
prison ministry donations, Jim and his dealership remain anonymous.
Jim will represent the Hawaii Automobile Dealers Association at the 100th annual National Automobile Dealers Association Convention and Exposition in New Orleans, Louisiana on January 27, 2017.
Over the years, whether openly or anonymously the Jim Falk dealerships have become an integral part of the Maui tight-knit community, and Jim says he remains the one most blessed by being able to help.
The award is sponsored by TIME in association with Ally Financial and in cooperation with NADA. A panel of faculty members from the Tauber Institute for Global Operations at the University of Michigan will select one finalist from each of four NADA regions and one national Dealer during the event.
Ally financial provides $1000 for each dealer who is nominated for the national TIME dealer of the year to provide to a nonprofit institution of choice and Jim has picked Maui Preparatory Academy for the Ally Dealer Hero contribution. Jim has been working with the pre-K through 12th grade school for years, and his three children – twins James III and Dylan, 13, and daughter Nicolette, 15, have attended the school since preschool. Jim serves on the school’s board of directors and has supported the school financially through donations and through the Pueo Pilot Scholarship fund which provides tuition for selected high school students.
“We are excited about the extraordinary group of nominees that are in the running for the 2017 TIME Dealer of the Year Award, said Tim Russi, president of Auto Finance for Ally Financial. “These dealers have been recognized for the ways they ‘do it right’ in their communities, and we look forward to sharing their stories.” Jim was nominated for the TIME Dealer of year award by members of the Hawaii Automobile Dealers Association – Hawaii’s new car dealer association made up of the state’s 70 new car dealerships. On Maui, Jim owns the Buick, Cadillac, Chevrolet, GMC, Hyundai, Nissan, Ford, Lincoln, Mazda, Chrysler, Jeep, Dodge, Ram and Fiat dealerships. Starting six years ago, Jim began donating bicycles through the Boys and Girls Clubs and a few churches on the island, where they designate families and organizations that are in need of some help during the holidays. The yearly bike donation has grown to 400500 bikes and helmets donated to children on Maui and another 200 in Los Angeles.
Jim is James Falk II. He said he was named after his grandfather James Falk whose father came to California in 1848 to find gold after the discovery at Sutter’s Mill. The original immigrant’s great grandson’s dream was to go further west, to Maui. One could say that the treasure Jim has found has been in the long time relationships with customers on Maui and the treasured relationships he’s built through working with many charitable institutions on the Valley Isle. It was something that all started with a conversation about a dream location for a dealership and the willingness to make a phone call.
In 31 years as a dealer on Maui, Jim’s dealerships have been involved in many charitable endeavors. Working through local churches, his dealerships donate to many ministries. One is the prison ministry on Maui that provides bikes for inmates to gift to their children for Christmas during a time of family separation. For the
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FIRST
HAWAIIAN INTERNATIONAL AUTO SHOW MARCH 24-26
2017 HAWAII CONVENTION CENTER
YOUR BUYERS ARE WAITING.
HADA invites Honolulu Mayor Kirk Caldwell to speak at the Auto Show’s VIP Preview Night
D
uring an October 21, 2016 meeting with Honolulu Mayor Kirk Caldwell (shown fourth from the left) which related to HADA and third party service providers offer to assist Honolulu’s DMV with transitioning to online vehicle registration and ownership transfer for used cars, HADA members invited the mayor to speak to all the members at the upcoming VIP Preview Night at the First Hawaiian International Auto Show 6:30 p.m. to 8:30 p.m. Thursday, March 23rd, 2017. Shown (l-r) on the left side of the table at the Honolulu Hale conference room are: Galen Onouye, Honolulu, DMV administrator; Vince Ching, who helped to arrange the meeting; Roy Amemiya, City and County of Honolulu managing director; Mayor Caldwell; Sherilyn Kajiwara, City and County of Honolulu Director of Customer Services; and Georgette Deemer, Deputy Managing Director. On the right side of the table, shown from right to left are: Mark Benson, Bill van den Hurk, Greg LeLesch, and City and County of Honolulu DMV official Preston Ko. Bill 64 (2016) moving through the City Council sets the date for the City’s implementation of an online system for used vehicle registration at July 1, 2017 (new vehicle registration online is already in place).
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MAHALO FOR YOUR BUSINESS IN 2016 WE LOOK FORWARD TO WORKING WITH YOU IN 2017!
HADA Replies to Wall Street Journal Comments
W
all Street Journal columnist Holman Jenkins, Jr. recently wrote on the auto emissions crackup and provided a succinct and startling insight. He wrote, “….multiply the emission scandal by many thousands and you have the crackup of the Western model of governance ...retirement systems, premised on workforces growing faster than retired populations, are helpless to adjust when the opposite is true.” In Hawaii, it’s like a Pacific version of the ancient pharaoh’s dream. The fat years are followed by the lean ones. New car sales (registrations) have, since records have been kept, followed a pattern in Hawaii that resembles San Francisco’s Golden Gate Bridge.
The retirement payment outlays will eventually exceed the income. This perfect storm now appears on the radar. I might as well use the graph to call the day, March 15, when it will all become apparent – The Ides of March, 2023. Some states retirement fund managers have barely been able to achieve 1% returns this past year and don’t see any path to 7.5% without unauthorized levels of risk. What does this mean for a state like Hawaii, which has covered only 60% of its employee retirement fund’s future needs? “Sophisticated state failure,” is the phrase Jenkins cited in his column, noting that it was coined by Jan Techau of Carnegie Europe. Hawaii is in some kind of straitjacket. Sometimes, it does seem like we’ve lost our minds. Hawaii’s governor David Ige, is being pragmatic, however. He is proposing to tuck away 10% of Hawaii’s $6.5 billion state tax revenue--$650 million--this coming year, and likely the same amount in future years, to head the problem off at the pass. It will be hard. Why do auto dealers applaud this move? Since U.S. states cannot declare bankruptcy, our state taxes would have to go up dramatically to meet the retirement system obligations, and Hawaii’s taxes are already some of the highest in the nation.
Total
E-vehicles
Hybrid FC
(Note: The graphic shows EV and HFCEV sales rates needed to meet the state goal for renewable fuel vehicles. The goals are laudable but likely unattainable without a massive education of the public campaign.)
That would likely lead to lower new car sales, at a very critical time for the car industry, if the realization of future failure of the system occurred, when new car sales were at their lowest point in 2023. The bottom of the economy would fall out like a wet sack of garbage being taken to the curb.
The predictive graphic, which was produced by the dealers in 2008 has proven to be surprisingly accurate.
Thanks for the warning, Mr. Jenkins.
Since new car sales mirror the performance of the state’s economy the graphic has proven a useful tool for planning.
David H. Rolf Executive Director, Hawaii Automobile Dealers Association
I overlaid Mr. Jenkins’ column’s statement about the failure of retirement systems on the Hawaii graph and saw the pending collapse of the state employee retirement system here in 2023.
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Honolulu City Council Budget Committee prepares to hear HADA testimony on Bill 64 (2016), the HADA-initiated bill to implement online registration and ownership transfer by dealers and third-party service providers (for used cars) by July 1, 2017.
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These rates are available for residential customers of Hawaiian Electric, Maui (OHFWULF RU +DZDL¶L (OHFWULF /LJKW &RPSDQ\ Participation is voluntary and limited to 5,000 customers. If you sign up, your bill will contain information comparing your cost and the normal residential rate. You may opt out DQ\ WLPH LI \RX IHHO LW LVQ·W ULJKW IRU \RX
To enroll, or for more information www.hawaiianelectric.com/timeofuse TOU@hawaiianelectric.com CALL: 2¶DKX VISIT:
EMAIL:
24
45 40
Price (¢ per kWh)
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35 30
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25
23.7¢
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LAW £ Hawaii F&I Library
Reynolds Document Services has developed a library of standard F&I documents designed to streamline processes, reduce potential liability, and provide common defenses for Hawaii dealers.
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800.344.0996 | LAW@reyrey.com
© 2016 The Reynolds and Reynolds Company. All rights reserved. Confidential and Proprietary Information. 9/16
25
Covering Data thru September 2016
Volume 15, Number 3
™
Hawaii Auto Outlook
Sponsored by: Hawaii Automobile Dealers Association FORECAST
New Vehicle Registrations Up Less Than 1% So Far This Year Peak in sales has likely been reached, but market is expected to remain strong Beginning in 2011, the Hawaii new vehicle market began a run of five consecutive years of increasing sales. New retail registrations last year exceeded 57,000 units. Based on the significant recovery that the market has made since 2011, (which is clearly depicted on the graph below) a common view is that sales have reached their cyclical peak and will now start to drift lower.
Local, national, and global economic conditions are dynamic and volatile and can have definite consequences for the course of new vehicle sales. But the way we see it now, there are some significant reasons to believe that any market softening will be gradual and that sales will remain at relatively strong levels for the foreseeable future. Here are three key factors supporting the state’s new vehicle market:
Indeed, this has been the established historical pattern. The market has almost always resembled a roller coaster ride, with sales climbing to peaks, and falling to troughs. Escalating incentives during this year are a sign that demand is easing, as manufacturers try to protect market share in a stable, or perhaps, declining market.
New vehicle affordability is at healthy levels. Interest rates are very low, and although they are likely to drift higher in the coming months, low vehicle financing costs should remain a stimulant for the market for quite some time. Combined with aggressive discount offers and growth in personal incomes, a new vehicle purchase is within reach for many consumers.
So attention has now shifted from asking how high the market will go, to how fast it will fall. As discussed in the previous release of Auto Outlook, forecasting new vehicle sales is risky.
Average age of cars on the road is high. Pent up demand has eased after six years of increasing sales, but the average age for
Annual Trend in State Market
New light vehicle registrations
57,094 54,039
57,400
TOTAL
42,463 32,878
YTD '15 YTD '16 % Chg. thru Sept. thru Sept. '15 to '16 43,324 43,580 0.6%
Mkt. Share YTD '16
32,649
35,576
Car Light Truck
19,406 23,918
17,317 26,263
-10.8% 9.8%
39.7% 60.3%
2011
Domestic European Japanese Korean
8,541 4,420 27,321 3,042
9,057 4,119 27,496 2,908
6.0% -6.8% 0.6% -4.4%
20.8% 9.5% 63.1% 6.7%
20,000 10,000 0 2009
2010
Historical Data Source: IHS Markit.
2012
2013
2014
2015
2016 Forecast
The graph above shows annual new retail light vehicle registrations in the state from 2009 thru 2015 and Auto Outlook’s projection for 2016.
26
Auto Outlook’s best guess at where the market is headed: 0.5% increase for all of this year versus 2015, with a small decline possible in 2017. It’s also not out of the question that the market could move marginally higher. Regardless of the direction the market heads in, registrations next year should still exceed 56,000 units, which on an historical basis, is a very good performance for the state market.
48,705
40,000 30,000
Today’s new vehicles offer significant improvements compared to the average 11 year old car. Aside from the fact that their current vehicle may be wearing out, there are a multitude of compelling reasons for consumers to be inclined to purchase something new. Advances in electronic safety features, performance, fuel economy, and infotainment are all factors luring shoppers into dealerships.
Market Summary
60,000 50,000
all cars in operations still exceeds 11 years old.
Source: IHS Markit.
Domestic brands consists of vehicles sold by GM, Ford, FCA (excluding FIAT), and Tesla.
Hawaii Auto Outlook
Page 2
MARKET TRACKER: QUARTERLY RESULTS
MARKET TRACKER: HYBRID AND ELECTRIC VEHICLES
State Market Off Slightly in 3Q
Hybrid/Electric Share Is 5.4%
QUARTERLY TREND
QUARTERLY ALTERNATIVE POWERTRAIN MARKET SHARE (includes hybrid and electric vehicles)
Percent Change in State and U.S. New Vehicle Market 8.0%
7.0% 6.0%
7.0%
% change versus year earlier
5.0% 4.0%
6.0%
3.0% 2.0%
5.0% 1.0%
Trendline
0.0%
4.0% -1.0%
State
-2.0%
U.S.
-3.0%
3.0%
State
Q4 '15 5.0%
Q1 '16 4.1%
Q2 '16 -0.2%
Q3 '16 -1.6%
U.S.
6.4%
2.4%
-1.4%
-2.3%
Alternative powertrain market share has trended lower over the past three years, but increased slightly from the Second to the Third Quarter of 2016.
2.0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 '13 '14 '14 '14 '14 '15 '15 '15 '15 '16 '16 '16
Data source: IHS Markit.
Data source: IHS Markit.
MARKET TRACKER: STATE MARKET VERSUS U.S.
State Car Market Share Falls to 39.7%
Hawaii Auto Outlook
Hawaii Market
U.S. Market
Covering data thru September 2016
0.6%
-0.6%
Passenger car market share YTD '16 thru Sept.
39.7%
41.0%
Domestic brand market share YTD '16 thru Sept.
Published for: Hawaii Automobile Dealers Association 1100 Alakea Street, Suite 2601 Honolulu, HI 96813 Phone: 808-593-0031
20.8%
41.5%
Percent change in registrations YTD '16 thru Sept. vs. YTD '15
Top 10 brands and market share YTD '16 thru Sept. First Second Third Fourth Fifth Sixth Seventh Eighth Ninth Tenth
Toyota Honda Nissan Ford Chevrolet Kia Subaru Lexus Hyundai Mazda
28.5% 14.2% 9.9% 8.0% 4.8% 4.0% 3.0% 2.9% 2.7% 2.7%
Toyota Ford Chevrolet Honda Nissan Jeep Subaru Hyundai Kia GMC
13.2% 12.2% 11.1% 10.0% 7.4% 5.4% 4.0% 3.9% 3.8% 3.3%
Published by: Auto Outlook, Inc. PO Box 390 Exton, PA 19341 Phone: 800-206-0102 EMail: jfoltz@autooutlook.com Editor: Jeffrey A. Foltz Reproduction, including photocopying of this publication in whole or in part, is prohibited without the express permission of Auto Outlook, Inc. Any material quoted must be attributed to Hawaii Auto Outlook, published by Auto Outlook, Inc. on behalf of the Hawaii Automobile Dealers Association, and must also include the statement: “Data Source: IHS Markit.” Unforeseen events may affect the forecast projections. Consequently, Auto Outlook is not responsible for management decisions based on the content of Hawaii Auto Outlook. Copyright Auto Outlook, Inc., Novembers 2016
Source: IHS Markit
27
Hawaii Auto Outlook
Page 3
MODEL SCOREBOARD
Tacoma is Best-Seller in Hawaii New Vehicle Market 4Runner, Tacoma, and F-Series post market share gains The graph below shows market shares in the Hawaii market during the first nine months of 2015 and 2016. Includes the top ten selling models. Change in Market Share for Top 10 Selling Vehicles - YTD 2015 thru September and YTD 2016 10.0% 2015 YTD 2016 YTD
9.0% 8.0% Market Share
7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Toyota Tacoma
Toyota 4 Runner
Honda Civic
Honda CR-V
Toyota Corolla
Toyota RAV4 Ford F Series
Honda Accord
Toyota Camry
Nissan Frontier /Xe
Data source: IHS Markit.
COUNTY SCOREBOARD
Maui and Kauai Markets Post Biggest Gains This Year Oahu market fell 1.1% The table on the right provides a summary of each of Hawaii’s four retail light vehicle markets. The table is divided into four sections. Market Summary shows total new retail light vehicle registrations during the first nine months of 2015 and 2016 and the percent change. The second and third sections show Light Truck and Detroit Three market share. The fourth section shows market share figures for the top 10 selling light vehicle brands in the state. The top rated county in each category is shaded. Maui had the largest percentage increase, up 8.9%. Detroit Three market share was highest in Kauai (28.5%) and lowest on the Big Island (19.3%).
28
New Vehicle Markets Summary Hawaii Kauai Market Summary YTD 2015 thru September 5230 1764 YTD 2016 thru September 5275 1845 Percent change 0.9% 4.6% Light Truck Market Share YTD 2015 thru September 61.9% 69.3% YTD 2016 thru September 65.9% 73.2% Change (share points) 4.0 3.9 Detroit Three Market Share YTD 2015 thru September 16.6% 25.6% YTD 2016 thru September 19.3% 28.5% Change (share points) 2.7 2.9 Market Share for Top 10 Selling Brands in State - YTD 2016 thru September Toyota 33.2% 29.2% Honda 15.7% 12.7% Nissan 11.2% 8.7% Ford 7.4% 13.1% Chevrolet 3.2% 7.4% Kia 7.1% 9.5% Subaru 5.4% 3.6% Lexus 0.8% 0.9% Hyundai 2.3% 3.5% Mazda 1.6% 1.4%
Maui
Oahu
5200 5664 8.9%
31130 30796 -1.1%
61.7% 65.9% 4.2
52.2% 57.5% 5.3
23.2% 23.6% 0.4
19.3% 20.1% 0.7
27.8% 18.9% 10.9% 10.2% 5.0% 3.1% 3.4% 1.9% 1.2% 1.0%
27.7% 13.2% 9.6% 7.4% 4.9% 3.3% 2.5% 3.5% 3.0% 3.3%
Hawaii Auto Outlook
Page 4
Hawaii New Retail Car and Light Truck Registrations Third Quarter
TOTAL Cars Light Trucks Domestic Brands European Brands Japanese Brands Korean Brands Acura Audi BMW Buick Cadillac Chevrolet C/D/J/R Total Chrysler Dodge Jeep Ram FIAT Ford GMC Honda Hyundai Infiniti Jaguar Kia Land Rover Lexus Lincoln Mazda Mercedes MINI Mitsubishi Nissan Other Porsche Subaru Tesla Toyota Volkswagen Volvo
Registrations 3Q '15 3Q '16 15,461 15,207
% change -1.6
Market Share (%) 3Q '15 3Q '16
Change
Year-to-date thru September Registrations Market Share (%) YTD '15 YTD '16 % change YTD '15 YTD '16 Change 43,324 43,580 0.6
6,797 8,664
5,772 9,435
-15.1 8.9
44.0 56.0
38.0 62.0
-6.0 6.0
19,406 23,918
17,317 26,263
-10.8 9.8
44.8 55.2
39.7 60.3
-5.1 5.1
2,942 1,434 10,014 1,071
3,116 1,472 9,591 1,028
5.9 2.6 -4.2 -4.0
19.0 9.3 64.8 6.9
20.5 9.7 63.1 6.8
1.5 0.4 -1.7 -0.1
8,541 4,420 27,321 3,042
9,057 4,119 27,496 2,908
6.0 -6.8 0.6 -4.4
19.7 10.2 63.1 7.0
20.8 9.5 63.1 6.7
1.1 -0.7 0.0 -0.3
96 135 392 51 35 572 977 81 303 421 172 26 1,120 128 2,101 461 81 6 610 35 478 20 434 329 131 24 1,674 34 59 408 35 4,717 220 72
184 163 414 78 43 742 797 80 199 325 193 16 1,187 179 2,123 434 77 24 594 51 435 10 404 360 119 16 1,414 30 69 486 76 4,450 202 30
91.7 20.7 5.6 52.9 22.9 29.7 -18.4 -1.2 -34.3 -22.8 12.2 -38.5 6.0 39.8 1.0 -5.9 -4.9 300.0 -2.6 45.7 -9.0 -50.0 -6.9 9.4 -9.2 -33.3 -15.5 -11.8 16.9 19.1 117.1 -5.7 -8.2 -58.3
0.6 0.9 2.5 0.3 0.2 3.7 6.3 0.5 2.0 2.7 1.1 0.2 7.2 0.8 13.6 3.0 0.5 0.0 3.9 0.2 3.1 0.1 2.8 2.1 0.8 0.2 10.8 0.2 0.4 2.6 0.2 30.5 1.4 0.5
1.2 1.1 2.7 0.5 0.3 4.9 5.2 0.5 1.3 2.1 1.3 0.1 7.8 1.2 14.0 2.9 0.5 0.2 3.9 0.3 2.9 0.1 2.7 2.4 0.8 0.1 9.3 0.2 0.5 3.2 0.5 29.3 1.3 0.2
0.6 0.2 0.2 0.2 0.1 1.2 -1.1 0.0 -0.7 -0.6 0.2 -0.1 0.6 0.4 0.4 -0.1 0.0 0.2 0.0 0.1 -0.2 0.0 -0.1 0.3 0.0 -0.1 -1.5 0.0 0.1 0.6 0.3 -1.2 -0.1 -0.3
471 367 1,294 130 119 1,658 2,725 196 895 1,108 526 77 3,316 402 5,874 1,296 202 33 1,746 125 1,360 66 1,210 1,037 416 93 4,567 93 172 1,284 119 12,256 687 129
554 438 1,118 166 99 2,104 2,498 193 723 1,018 564 71 3,489 472 6,201 1,174 204 46 1,734 143 1,256 33 1,167 1,010 363 78 4,325 78 180 1,307 190 12,401 570 111
17.6 19.3 -13.6 27.7 -16.8 26.9 -8.3 -1.5 -19.2 -8.1 7.2 -7.8 5.2 17.4 5.6 -9.4 1.0 39.4 -0.7 14.4 -7.6 -50.0 -3.6 -2.6 -12.7 -16.1 -5.3 -16.1 4.7 1.8 59.7 1.2 -17.0 -14.0
1.1 0.8 3.0 0.3 0.3 3.8 6.3 0.5 2.1 2.6 1.2 0.2 7.7 0.9 13.6 3.0 0.5 0.1 4.0 0.3 3.1 0.2 2.8 2.4 1.0 0.2 10.5 0.2 0.4 3.0 0.3 28.3 1.6 0.3
1.3 0.2 1.0 0.2 2.6 -0.4 0.4 0.1 0.2 -0.1 4.8 1.0 5.7 -0.6 0.4 -0.1 1.7 -0.4 2.3 -0.3 1.3 0.1 0.2 0.0 8.0 0.3 1.1 0.2 14.2 0.6 2.7 -0.3 0.5 0.0 0.1 0.0 4.0 0.0 0.3 0.0 2.9 -0.2 0.1 -0.1 2.7 -0.1 2.3 -0.1 0.8 -0.2 0.2 0.0 9.9 -0.6 0.2 0.0 0.4 0.0 3.0 0.0 0.4 0.1 28.5 0.2 1.3 -0.3 0.3 0.0 Source: IHS Markit.
29
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Kudos for a job well done! The biggest winners? The car-buying public. The Association of Finance & Insurance Professionals ŞŗĹ?ÇŻĹšĹ˜ĹžÇŻĹ˜ĹšĹ™ĹšČąČąČŠČąČąÂŠÄ™Â™ÇŻÂŒÂ˜Â–ČąČąČŠČąČąÂ?ŠÂ&#x;Â’Â?ÇŻÂ›Â˜Â‹ÂŽÂ›Â?ÂœÂ˜Â—Č“ÂŠÄ™Â™ÇŻÂŒÂ˜Â–
Protecting Our Customers' Assets Serving & Supporting Hawaii’s Auto Dealers Since 1976
Need Answers? www.HawaiiAutoDealer.com
YOUR HADA INFO RESOURCE
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growth engine Accelerating business performance with a range of financial solutions for Hawaii dealers. Rolf Sorenson | 310.990.5108 | rolf.w.sorenson@baml.com baml.com/dealerservices
The power of global connections
32
Rachael Teves, shown smiling, center, was the 5000th purchaser of an electric vehicle in Hawaii. She purchased a Nissan LEAF from the Tony Nissan dealership. She is shown at a press conference held at the dealership by Blue Planet Foundation, in conjunction with HECO. Margaret Larson, from the Hawaii State Department of Business and Economic Development’s Energy Office is to her right, with HECO president and CEO Alan Oshima and (far right) Blue Planet’s Shem Lawlor. HECO’s Shelee Kimura is shown at far left.
STRIKE A CHORD. Every market strums to a different tune. Autotrader provides unique local market insights that keep you steps ahead of the competition, helping you sell more cars.
Autotrader is proud to support HADA and the entire automotive dealer community of Hawaii. To learn more about Autotrader visit AGame.Autotrader.com, or contact Nick Olivas at 808-798-5825 / Nicholas.Olivas@autotrader.com
DIGITAL MARKETING SOLUTIONS // SHOPPER INSIGHTS // LOCAL MARKET GUIDANCE ©2016 Autotrader.com, Inc. All Rights Reserved. Autotrader is a registered trademark of TPI Holdings, Inc. used under exclusive license.
33
Sponsors of the HawaiiDealer help HADA dealers fulfill the association’s mission. THE HADA Mission: "To help auto dealers comply with the laws, to make car buying (and servicing) by the general public, trouble free.” Communications are key. Mahalo to all of the 25 sponsors of the official publication of the Hawaii Automobile Dealers Association.
The Official Publication of the Hawaii Automobile Dealers Association
2015 Summer Edition
HADA Logs in on TPP
The Official Publication of the Hawaii Automobile Dealers Association
2016 1st Quarter Edition
Here’s to a great 2017!
The Official Publication of the Hawaii Automobile Dealers Association
2016 Summer Edition
On the Trade Pact—Reserve Currency is the Key
Q:: Will Q W l dealerss ope Wi Wil operating p rati ati ting ting ti in the the blind th bl nd br bli bring bri n down ng down dow in State Tax Sta Tax Revenues? Revenue Rev enu s? enue ? State
(Page 8)
Other Stories in this Edition... itiio
Advertise In The HawaiiDealer
™
Hawaii Auto Outlook
Let’s Ride!
2015 First Hawaiian International Auto Show
56,400 54,095 T h e O f f i c i a l 48,705 42,463
Register at www.hawaiiautodealer.com
Sales continue upward for 2015
Why Auto D Dealers Matter...
Established under HADA president Charlie King in 2002, the HawaiiDealer is a quarterly magazine that provides information on the activities of HADA members to a wide audience, including the membership of the Association, key employees at the dealerships, legislators, city council members, Hawaii media, the Congressional Delegation, and many Hawaii sister organizations.
18
56th HADA Convention
Also Oct. in this Edition... 8-11, 2015 Fairmont Kea Lani, Maui
11
2016 Convention Edition
Kauai new car dealerships. Note: Kauai’s Grand Hyatt will be the site for the 2016 HADA convention.
see story on page 8
Hawaii’s show scores high on Motor Trend’s auto show benchmarks.
Publication of the Hawaii Automobile Dealers Association
A: Yes
35,576 32,649
At the 57th HADA Convention October 13-16, 2016 Grand Hyatt Kauai
26
3.7% improvement predicted for the year
See Story Page 8.
Registered vehicle data, which w has not been available for 10 months is now slowly starting to flow. See Hawaii Auto Outlook pages 20, 21, 22, and 23. 2016 First Hawaiian International Auto Show Sh ho pagg e 11 March 18-20,2016 page
HADA dealers lunch with Bob Lutz
Also in this Edition...
page 14
Bill van den Hurk greets Rep. Cynthia Theilen at Dealer Day at the Capitol. page 20
KAUAI 2016
At the 2016 HADA convention you’ll be provided insights on the No. 1 word on top-selling dealer websites, p. 8 See President Bill van den Hurk’s comments, p. 4 See Hawaii Auto Outlook pages 20, 21, 22, and 23. HADA provides featured presentation forr n visiting Japan Auto Dealers Association page pag g e 1144
HADA board discusses convention plans
other agenda items. See story on Also and in this Edition... long lines at DMVs. DMVs
page 27
Come to Kauai. Learn what’s ahead for the auto industry at the HADA 57th Oct. 13-16 Convention Oct page 12
HADA appreciates the “sponsorship” of the official publication through the provision of sixth, third, half, and full-page color messages. Mahalo!
Providing a Solution: Hawaii dealers met with Senator Brian Schatz to discuss S. 2663 — a solution to CFPB’s flawed guidance. page 11
For more information, Contact Custom Publishing Design Group, Inc. Tel 860-513-1213
Fax 860-513-1216
115
sara@MyCompanyMagazine.com
YEARS OF SERVICE TO OUR ISLANDS
Sponsors provide record $100,000-level of support for the HADA convention. page 4
Also see the HADA website at www.hawaiiautodealer.com
YOUNG BROTHERS is continuously exploring ways to enhance our services and provide quality customer service to our community.
See what we’re doing to provide more efficient inter-island shipping services by visiting: www.YoungBrothersHawaii.com
34
Hawaii Forecast …remains positive. The Hawaii Auto Outlook provides numbers useful for planning. page 20
From Ship to Showroom Pasha Hawaii offers Hawaii auto dealers and rental car companies versatile ocean transportation services between Hawaii and the Mainland, with fully enclosed decks on our roll-on/roll-off vessels for maximum protection of all vehicles. Direct Ro/Ro service available from Los Angeles and San Diego, CA to Hilo, Kahului, and Honolulu, HI.
In a word, we’re driven. For decades, Matson has supported Hawaii’s auto dealers as both a friend and partner. We have more sailings, more often, to and from Hawaii than any other carrier. The Hawaii Auto Dealers Association can rely on Matson to continue its proud tradition of providing regular, reliable delivery of automobiles and outstanding service, including up-to-date technology for vehicle status reporting and tracking. And after 130 years of service to the islands, members can continue to count on Matson to deliver.
For more information, call our Customer Support Center at (800) 4-MATSON or visit matson.com.