HawaiiDealer

The Official Publication of the Hawaii Automobile Dealers Association

2017 Convention Edition

LEARN WHY THIS HADA GRAPH IS CALLED

THE ROSETTA STONE page 17

Also in this Edition...

NEW VEHICLE REGISTRATIONS CONTINUE TO

Jarrett Cutter, left, and Stan Masamitsu carried HADA’s message on the autonomous vehicle legislation to our Hawaii members of Congress.

See pictorial, pages 8-11

The first seven months of 2017 have seen a 7.4% increase in registrations over the same period last year.

Page 26

HADA associate members and officials from the City and County of Honolulu have formed a working group to address details of Electronic Vehicle Registration (EVR) for new and used vehicles.

See page 34

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Hawaii Automobile Dealers Association 1100 Alakea Street, Suite 2601 Honolulu, HI 96813

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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 Brad Nicolai KAUAI DIRECTOR AT-L ARGE DIRECTOR Dan Mackey Marc Cutter AT LARGE DIRECTOR ATKeoni -LARGEHansen DIRECTOR Keoni Hansen IMMEDIATE PAST PRESIDENT IMMEDIATE PAST PRESIDENT Nick Cutter

Back to Basics It’s been said that everything in life goes back to basics.

Hiring and training a skilled workforce at a dealership is about as basic as it gets. This year’s HADA convention will focus on this key part of owning a business.

This coming year HADA has plans to create a staffed JOBS exhibit at the 2018 First Hawaiian International Auto Show and HADA will continue to support the UH community college auto tech training programs with our five $1,000 HATS scholarships.

There are, on average, 65 employees per new car dealership in the islands.

With each employee playing a role in maintaining the vitality of ground transportation, and with our industry undergoing such transformative change in technology, there’s never been a more critical time to focus on this basic part of the dealership business.

Much thanks to all our sponsors for making this year’s HADA convention possible.

Thanks goes to convention chair Bill van den Hurk, who brought forward the association’s focus on hiring and maintaining a top workforce, and golf cochairs Byron Hansen and Pete Luke, (Byron, by the way, came out retirement to help with the two tournaments this year), and to Bob Gardiner for chairing the tennis tournament.

It’s back to basics; our future depends on it.

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

HawaiiDealer is designed & published by Custom Publishing Design Group, Inc.® ‡ ZZZ 0\&RPSDQ\0DJD]LQH FRP 7R DGYHUWLVH LQ DQ XSFRPLQJ LVVXH FRQWDFW 6DUD 5XVVHOO H[W RU H PDLO VDUD#P\FRPSDQ\PDJD]LQH FRP

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

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Why This Trip to D.C. Was So Important

T

here remains concern that the legislation that Congress is considering to advance selfdriving vehicles or Highly Automated Vehicles (HAVs) could preempt certain state franchise laws.

On September 6, the U.S. House approved H.R. 3388 the “SELF DRIVE Act” by unanimous vote.

NADA and HADA supported the inclusion of clarifying language that expressly stated that state vehicle licensing and franchise laws remain intact and would not be preempted.

HADA asked our members of Congress to ensure that the language preserving the applicability of state franchise laws, will continue to be retained in the Senate version of the bill, which at press time had not yet been taken up by the Senate.

States have traditionally had the right to license and regulate the distribution, sale and service of vehicles in their state, based on the states’ desire to protect consumers who purchase vehicles and to promote business that provide price competition, local jobs, and significant local and state tax revenue. These rights are reserved to states under the Tenth Amendment to the Constitution.

There is also concern that when the Senate considers the legislation, that bills previously introduced

by Sen. Blumenthal (D-Conn.) and Rep. Schakowsky (D-Ill.)…S. 1634/H.R. 3449) might possibly be added as amendments. These bills could cripple the used car market by halting the sale or wholesale of any used car by a dealer, if the vehicle was under an open recall, even though most vehicle recalls do not require the drastic step of grounding. These bills would create a “trade-in tax” that would instantly devalue a car buyer’s trade-in by grounding recalled vehicles for such minor matters as a peeling sticker.

Because of the shortage of recall parts, it often takes months to repair recalled vehicles.

8

Since the bills do not regulate private sales, recalled cars would be pushed into the unregulated private market, making it more difficult to complete recall repairs.

As Stan Masamitsu said in the meetings in Congressional offices on the Hill, “the (recall) bill would have the opposite effect of its intended purpose which is to see vehicles repaired.”

U.S. Secretary of Transportation Elaine L. Chao spoke about the “Guidance” that the Department of Transportation issued on HAVs in 2016.

U.S. Representative Don Beyer, D-Vir., a second generation car dealer, spoke at the Washington Conference. His message about the need to convey the messages about preserving franchise laws, avoiding over-broad recall bills, and obtaining real tax reform needed to be clearly communicated to his colleagues on the Hill.

Fox News commentator Tucker Carlson said he met a car salesman while fishing in Montana who predicted that Donald Trump would win the election. While none in Washington would think that could happen, he later concluded, after the election, that it’s people in the car business, who are close to the people of the nation, who seem to best know about a lot of things in the country.

It was estimated that the recall legislation, if passed, would cost customers $1,210 in lost trade-in value.

9

Rep. Tulsi Gabbard’s Office HADA's 1 p.m. September 13th meeting was in Rep. Tulsi Gabbard’s office. The congresswoman was called to the U.S. House floor to testify on an amendment she was offering, so the meeting was hosted by Legislative Aide Andres Chovil, far right. Also shown R-L are, Hawaii’s NADA director Stan Masamitsu, HADA’s NextGen dealer representative, Jarrett Cutter, and Andrew Carmody, a UH political science major intern.

Meeting with Rep. Colleen Hanabusa HADA’s 2 p.m. meeting was with Rep. Colleen Hanabusa, far left, who had just returned from voting on the House floor. Earlier substantive discussions were held with Chief of Staff Mike Fornby, third from right. He had underlined many portions of the HADA advance briefing materials delivered two days earlier to the office, and had downloaded many HawaiiDealer magazine pages from our HADA website in preparation for the discussions. Dan Kouchi, legislative aide is shown 2nd from left, along with Stan Masamitsu and Jarret Cutter, far right.

10

Sen. Mazie Hirono’s Office Senator Hirono, who is usually available to meet with our delegation was tied up on the Senate floor during a preliminary vote on defense appropriations, a key vote. Joe McGarvey, a senior policy advisor on Sen. Hirono’s staff discussed at the 3 p.m. meeting with Stan and Jarrett the problems surrounding the recall language that would ground all vehicles under any safety recall.

Sen. Brian Schatz’s Office HADA’s 4 p.m. meeting was with members of Senator Schatz’s staff. Trey Ruffett, legislative policy advisor on transportation, left, and Mika Morse, a legislative counsel in the Senator’s office, met with Jarrett, Stan and NADA senior vice president of legislative affairs, Michael Harrington. The focus of the discussion was on ensuring that the House language preserving the applicability of state franchise law, be also included in the Senate version of the legislation.

11

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Advertise In The HawaiiDealer The Official Publication of the Hawaii Automobile Dealers Association

The Official Publication of the Hawaii Automobile Dealers Association

The Official Publication of the Hawaii Automobile Dealers Association

The Official Publication of the Hawaii Automobile Dealers Association

2016 Convention Edition

2016 4th Quarter Edition

2017 1st Quarter Edition

2017 Summer Edition

Magical Maui

START THE

EXCITEMENT! AT THE

At the 57th HADA Convention October 13-16, 2016 Grand Hyatt Kauai

M E, CO

LEARN WH AT ’S

TAKING THE SHOW TO A WHOLE NEW LEVEL...

Jim Falk is Hawaii’s 2017 Dealer of the Year

More supercars than ever

Lots of brawny trucks Sculpted-body sportscars Wall-to-wall displays

KAUAI

UP T D! H E R OA

RECORD AT TENDANCE ANTICIPATED AT THE 58TH HADA CONVENTION OCT. 58, 2017, ON MAUI

A hot concept car that was one of the stars of the SEMA show

(see story page 8)

2016

MARCH 24–26

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.

Also in this Edition...

Also in this Edition...

Also in this Edition...

Also in this Edition...

THE ROAD TO THE SUMMIT OF HALEAKALA IS THE SHORTEST DISTANCE BY ROAD IN THE WORLD FROM SEA LEVEL TO 10,000 FEET.

See President's remarks page 4

Jim Falk’s Maui dealerships provide 400 to 500 bicycles and helmets to kids at Christmastime. See story page 14

1st Half of 2017

up 5.1.% Providing a Solution: Hawaii dealers met with Senator Brian Schatz to discuss S. 2663 — a solution to CFPB’s flawed guidance. page 11

Sponsors provide record $100,000-level of support for the HADA convention. page 4

Hawaii Forecast …remains positive.

The Hawaii Auto Outlook provides numbers useful for planning. page 20

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

Dealer Day at the Capitol See pictorial, pages 14–17

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.

HADA appreciates the “sponsorship” of the official publication through the provision of sixth, third, half, and full-page color messages.

See how online vehicle registration will speed up commerce.

Page 8

HADA Convention room reservations are open.

See page 30

Eric Chester—who is on the national speakers’ registry—will provide the keynote for Friday’s General Meeting.

Page 12

New car and truck registrations for 2017 are following the projection for the year made seven years ago.

Page 23

Mark Wong, the City’s Director of Information Technology will present details on the new online registration system at the Friday, General Meeting.

See page 12

For more information, contact Custom Publishing Design Group, Inc. Tel 860-513-1213 Fax 860-513-1216 sara@MyCompanyMagazine.com

Also see the HADA website at www.hawaiiautodealer.com

15

HAWAII LEADS THE U.S.

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Why is it Called

The Rosetta Stone?

W

hy is the HADA estimate of new carr and truck registrations 2011 through 2045 called alled The Rosetta Stone graph?

Near the town of Rosetta in Egypt, during the Napoleonic wars, a stone with inscriptions was found which helped to decipher Egyptian hieroglyphs. The stone contained the same inscriptions in, Greek, demotic, and hieroglyphic..

Using known languages, information was unlocked about the unknown.

Similarly, by using projected new vehicle registrations, many aspects of Hawaii’s unknown future are factored for planning purposes.

State economists take a look at HADA data and d projections to get a feel for state tax revenues.

Ocean shippers make future plans for aging ship replacement using such data for projections.

Recently, the HADA projections played a role in the association’s key legislative testimony on HB1580—bringing market-based data into the discussions about consumer electric vehiclee uptake.

Since many highly autonomous vehicles (HAVs) are projected to be electric vehicles, the HADA Rosetta Stone was able to be used during the HADA portion of the recent Hawaii Clean Energy Day presentations.

In the future, the Hawaiian Electric Company has plans to involve privately owned electric vehicles for back-up energy, in a smart grid system, which will allow owner-authorized backfill to the electric grid from thousands of plugged-in vehicles when power is needed to keep oil-fired generators off-line.

Sounds about as complex as hieroglyphics? That’s why the Rosetta Stone graphic is proving helpful.

The Rosetta Stone provided the key to deciphering Egyptian hieroglyphics

See HADA projections, graph on next page

17

18

Source: Hawaii Automobile Dealers Association.

Note: Hydrogen fuel cell electric Vehicles are included in EV numbers.

19

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23

The Big Picture;

HADA Logs In Party-line votes have become as common as email spam.

Right now, federal tax reform is needed to restore U.S. growth and, by all accounts, it’s going to take a bipartisan effort, with active participation by our four Democrat members of Congress.

Employee wages and benefit packages across the country, including those in Hawaii, previously had stalled out as a consequence of businesses in America—especially those businesses in Hawaii— struggling to pay the highest corporate tax rate in the developed world and, for small business owners in Hawaii, having to pay the second highest state pass-through tax rate for business in the U.S. Corporate tax in America tops the list at around 40% (with 35% federal and an average of 5% state).

Hawaii taxes the income of C corporations at a series of marginal rates ranging from 4.4% to 6.4%.

For an Subchapter S corps in Hawaii, the corporate tax is like a pass-through to the business owner at the federal income tax rate, ranging up to 35% in addition to the Hawaii personal income tax rates which ranges up to 11%.

Now, there is a proposal to lower the federal corporate tax rate to 15% with the same 15% rate applying to pass-through corporate tax structures like partnerships and Subchapter S corp structures.

If employee health premium costs also could be brought under control, through a revision of the Affordable Care Act, which has developed into the Not-So-Affordable Care Act, then the real benefit certainly would be for workers.

24

Also, there’s a proposal afoot to recapture money trapped overseas by our corporate tax policies.

Companies try to avoid double taxation. If a U.S. company is based overseas, yes, it pays taxes on earnings to the country in which it is based, but then any after-tax profits that are returned to America must be paid at the U.S. corporate tax rate.

If the company retains that profit overseas, it doesn’t have to pay U.S. taxes, and that’s why $2 trillion, an amount that continues to grow, is staying abroad.

This phenomenon of merging with a foreign company in a business-friendly jurisdiction such as Canada or Ireland or the United Kingdom is called “inversion.”

To bring these trillions of dollars back to the U.S. a proposal has been made for a one-time corporate tax rate of 10% on any foreign earnings which are now held abroad, if those earnings were reinvested in the U.S. The subsequent individual worker taxes from new jobs and wages in this country will still benefit the treasury.

The Tax Foundation estimates that the tax reforms mentioned here would increase real GDP by 9% and real wages by 8%—and would actually be revenue neutral because of the increased tax revenues from increased business activity.

Reformed tax policy will help us grow out of the economic-stall doldrums.

What a concept.

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Attract more customers, please your employees, help our environment This is a great time to consider adding a DC Fast Charger for electric vehicles to your business. The Hawaiian Electric Companies’ program to encourage plug-in EV ownership has been extended. With nearly 6,000 plug-in EVs on our roads, Hawai‘i is among the national leaders in EVs per capita. More EV models with moderate pricing and greater range are on sale here now or soon will be.

Consider whether a fast charger on your premises can be an asset for your business or building. Call us at 808543-GOEV (4638) and we’ll tell you about choices: own and operate an on-site fast charger yourself or, better yet, let Hawaiian Electric do it for you. t 5IF )BXBJJBO &MFDUSJD $PNQBOJFT DBO PXO operate up to 25 publicly accessible DC fast chargers across O‘ahu, Maui County and Hawai‘i Island. Nearly a dozen are already in place and more sites are needed. You provide the space and minimal support, Hawaiian Electric operates, and maintains the charger.

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www.hawaiianelectric.com/GoEV 25

Covering Data thru July 2017

Volume 16, Number 4

™

Hawaii Auto Outlook

Sponsored by: Hawaii Automobile Dealers Association 1. LONG TERM TRENDS

New Retail Registrations in Hawaii Could Exceed 60,000 Units in ‘17 New vehicle sales predicted to remain strong in 2017 State New Retail Light Vehicle Registrations — 2007 thru 2016, 2017 Forecast

Key Trends

60,000

New retail light vehicle registrations

50,000

Between 2010 (the low point during the market downturn) and 2016, new retail light vehicle registrations in the state increased by nearly 26,000 units, an increase of 79%.

40,000

30,000

The U.S. market improved by 56% from 2010 to 2016.

20,000

10,000

0

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Regs. 54,492 41,184 32,878 32,649 35,576 42,463 48,705 54,039 57,094 58,485 59,750 Years

Historical Data Source: IHS Markit.

State New Retail Light Truck Market Share — 2007 thru 2016, YTD 2017 thru July

65.0%

Light truck market share

60.0%

Light trucks accounted for 61.4% of the market in 2016, and exceeded 63% during the first seven months of 2017.

55.0% 50.0%

Light truck share was nearly 15 points higher so far this year versus 2012.

45.0% 40.0% 35.0%

Truck share

2008

2009

2010

2011

2012

2013

2014

2015

2016

YTD '17

52.9%

50.3%

50.6%

50.4%

48.7%

49.4%

51.4%

56.5%

61.4%

63.5%

Years

Historical Data Source: IHS Markit.

26

The market has exceeded 50,000 units during each of the past three years, and has a chance to exceed 60,000 in 2017 Light truck share of the Hawaii light vehicle market declined slightly between 2008 and 2012.

70.0%

30.0%

The market was up 2.4% last year versus 2015. Auto Outlook is predicting another improvement this year.

Note: light truck market share for 2017 is for year-to-date through July.

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Hawaii Auto Outlook

Page 2

2. BRAND CAR AND LIGHT TRUCK REGISTRATIONS

Light Truck Registrations Increase for 18 of Top 20 Brands The graph below shows the percent change in new retail car and light truck registrations during the first seven months of 2017 versus the same period in 2012 for the top 20 sell-

ing brands in the state. Brands are positioned from top to bottom based on the change in truck registrations. Not surprisingly, trucks led the way, with increases of more than 100% for

several brands. Of the 17 brands that sell both types of vehicles, trucks out-performed cars for all brands, except Nissan and Volkswagen.

Five Year Percent Change in New Retail Car and Light Truck Registrations for Top 20 Selling Brands YTD 2017 thru July versus YTD 2012

Subaru BMW Lexus Hyundai

178%

16% 142%

-38%

141%

-42%

Audi

138%

-18% 108%

Ram Chevrolet

106%

19%

Honda

95%

47%

Mercedes Toyota

294%

95%

92%

-11%

89%

-27%

Acura

80%

-23%

75%

Jeep

64%

GMC

% change for light trucks 56% 55%

Kia Ford

52%

13%

46% 52%

Nissan Mazda

45%

-10%

Dodge

3%

-100%

26%

-9% -19%

Volkswagen MINI

% change for cars

-42% -50%

-10% 0%

50%

100%

150%

200%

250%

300%

350%

Source: IHS Markit.

29

Hawaii Auto Outlook

Page 3

3. BRAND SCOREBOARD

Toyota, Honda, and Nissan State Shares are Well Above U.S. The graph below provides a comparison of Hawaii and U.S. new retail market share during the first seven months of this year for the top 20 selling brands in the state. Brands are positioned on the graph from top to bottom based on state market share. Toyota was the state leader, accounting for 26.1% of the market, above its 13.3% share in the Nation. Data source: IHS Markit.

State and U.S. Market Share - YTD 2017 thru July 30.0%

25.0%

20.0%

15.0% Hawaii U.S.

10.0%

5.0%

0.0%

4. COUNTY SCOREBOARD

Oahu New Vehicle Registrations Increase by 7.4% 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 seven months of 2016 and 2017 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.

Kauai had the largest percentage increase, up 20.6%. Detroit Three market share was highest in Kauai (25.6%) and lowest on the Big Island (18.9%).

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New Vehicle Markets Summary Hawaii Kauai Market Summary YTD '16 thru July 4066 YTD '17 thru July 4080 Percent change 0.3% Light Truck Market Share YTD '16 thru July 66.8% YTD '17 thru July 68.9% Change (share points) 2.1 Detroit Three Market Share YTD '16 thru July 19.3% YTD '17 thru July 18.9% Change (share points) -0.4 Market Share for Top 10 Selling Brands in State - YTD '17 thru July Toyota 28.4% Honda 18.6% Nissan 12.8% Ford 7.2% Chevrolet 2.8% Kia 7.0% Subaru 5.9% Mazda 1.2% Hyundai 2.3% BMW 2.0%

Maui

Oahu

1401 1690 20.6%

4287 4228 -1.4%

23390 25122 7.4%

73.8% 72.5% -1.3

65.9% 68.7% 2.8

57.1% 61.2% 4.1

28.0% 25.6% -2.4

23.1% 23.5% 0.4

19.6% 21.1% 1.4

31.1% 16.3% 10.5% 11.4% 5.6% 7.3% 3.0% 1.4% 2.5% 0.4%

25.5% 19.7% 10.6% 7.8% 5.7% 4.3% 3.2% 1.0% 1.9% 2.1%

25.5% 14.7% 9.7% 6.8% 5.8% 2.9% 2.4% 3.4% 2.9% 3.0%

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Hawaii Auto Outlook

Page 4

5. SEGMENT CLOSE UP: SMALL SUVS

Honda is Leader in Area Small SUV Segment Brand Results - Three Year Perspective

Model Sales Leaders

% change in Hawaii new retail Small SUV registrations YTD ‘17 thru July vs, YTD ‘14 (sorted by YTD ‘17)

Top 10 selling Small SUVs in Hawaii new retail market YTD 2017 thru July

Brand

New registrations YTD ‘14 thru May

New registrations YTD ‘17 thru May

% change YTD ‘17 vs.

YTD ‘14

Honda

991

2054

107%

Toyota

848

988

17%

Nissan

595

834

40%

Jeep

647

760

17%

Subaru

541

600

11%

Mazda

306

403

32%

Ford

328

282

-14%

Hyundai

54

256

374%

Kia

81

175

116%

Chevrolet

96

140

46%

Buick

10

111

1010%

Volkswagen

66

60

-9%

MINI

108

59

-45%

Mitsubishi

33

50

52%

GMC

48

43

-10%

FIAT

27

36

33%

Honda CR-V, 17.7%

Others, 19.0%

Jeep Renegade, 3.6% Hyundai Tucson, 3.7%

Toyota RAV4, 13.4%

Ford Escape, 4.1% Jeep Wrangler, 4.5% Mazda CX-5, 4.6%

Honda HR-V, 12.3%

Subaru Forester, 5.5%

Nissan Rogue, 11.6%

Source: IHS Markit.

Source: IHS Markit.

Brand Sales Performance in Small SUV Segment - Hawaii market vs. U.S. Brand market share in Hawaii and U.S. YTD 2017 thru July (shown from left to right based on area share) 35.0% Honda’s share of the state Small SUV segment was 30%, 15.1 points higher than in the Nation.

Market Share (%)

30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0%

Honda

Toyota

Nissan

Jeep

Subaru

Mazda

Ford

Hyundai

Kia

Chevrolet

Hawaii

30.0%

14.4%

12.2%

11.1%

8.8%

5.9%

4.1%

3.7%

2.6%

2.0%

U.S.

14.9%

12.5%

9.7%

17.6%

8.2%

4.1%

8.7%

3.3%

2.6%

9.8%

Source: IHS Markit.

All figures above include combined totals for Subcompact and Compact SUVs.

33

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