William Maley

While the primary focus at PSA Group for the past few months has been purchase of Opel and Vauxhall from General Motors, there has been another project that has been going in the shadows, the return of the French automaker to the U.S. Speaking at the CAR Management Briefing Seminars this week in Traverse City, MI, the CEO of the recently established PSA North America Larry Dominique gave a status update. Back in April, PSA made their first foray into North America with the launch of car-sharing service TravelCar in Los Angeles and San Francisco. The next step is the launch of the Free2Move application into North America. Already launched in Europe, the application allows users to book and pay for a variety of transportation services such as public transit or ride hailing. For Europe, the application has eight different services on offer. Dominique said the app allows PSA Group to "interact with consumers more often than engaging solely in car sales." “We’re going to be starting to engage with millions of Americans. By the time we’re ready to sell cars, selling cars will just be the exclamation point at the end of the sentence,” Dominique told Automotive News on the sidelines. Also in the works is figuring out a dealership with the various services such as financing, servicing, and parts. Building out a dealer network will cost a fair chunk of cash and trying to something different with selling their vehicles is a no go for the time being. “We are looking for progressive, innovative and digital-minded partners,” said Dominique in an effort to reduce costs. “I’m not prepared to talk about how we are going to come to market (in North America) but it will be practical, traditional and use technology.” Dominique is aware of how big of a challenge that he is taking on and they only get one chance to get it right. “We’ve got to be able to do things in a new, innovative way. I don’t have the infrastructure and the legacy in place. We have a chance to do this right once.” Source: Automotive News (Subscription Required), Wards Auto View full article

Tesla CEO Elon Musk made a surprise announcement earlier this year with the upcoming Model Y crossover using a new platform and not the one used for the Model 3. Musk has changed his tune, however. “Upon the council of my executive team . . . who reeled me back from the cliffs of insanity—much appreciated—the Model Y will in fact be using substantial carryover from Model 3 in order to bring it to market faster,” said Musk during the second quarter earnings call yesterday. How much faster? Previously, Musk said the Model Y (if that is the final name) could arrive by 2019. But during this call, Musk did not give a date - possibly a wise idea. Source: Autoblog, Car and Driver View full article

It was about a month ago that we reported on the rumor of Ferrari working on an SUV, a complete 180 from Ferrari Chairman (and Fiat Chrysler Automobiles CEO) Sergio Marchionne's “you have to shoot me first” answer when asked about this last year. That rumor has been revealed to be true. During a conference call reporting second-quarter earnings, Marchionne confirmed that the Italian sports car builder is considering an expansion into utility vehicles and possibly reinvent the segment. "It will probably happen but it will happen in Ferrari’s style,” said Marchionne. "That space is too big and too inviting and we have a lot of our customers who will be more than willing to drive a Ferrari-branded vehicle that has that king of utilitarian objective." Marchionne also reiterated the “you have to shoot me first” comment is if Ferrari comes up with something similar to the models from Bentley or Porsche. Bloomberg learned from sources earlier in the week about Ferrari considering adding an SUV to their lineup in an effort to double profits by 2022. The model would be targeted at customers in Asia, particularly those in China. This could add an extra 2,000 sales for the company. But this could bring up a big problem for Ferrari. Currently, Ferrari produces under 10,000 vehicles a year to avoid various emission regulations. By possibly adding an SUV, Ferrari would now have to meet them. According to sources, Ferrari is planning on introducing more hybrid models beginning in 2019 to meet the various regulations. Next year, Marchionne will be presenting his final five-year business plan for FCA and their various brands. We'll likely find out then if Ferrari is going forward on the utility vehicle. Source: Bloomberg, (2) View full article

It is no secret that Chevrolet is working on a mid-engine Corvette, especially when a set of spy shots clearly showing the vehicle came out last fall. A new batch of spy shots have hit the web and we now have a better idea of what it could look like. The pictures reveal that the front end will look somewhat similar to the current Corvette with a pointed nose. There appears to be a curved windshield and a tapered roofline. Other pictures reveal the outline of the hood where the V8 engine resides. Speaking of the V8 engine, there are reports saying the mid-engine Corvette will have three engines on offer - codenamed LT2, LT6, and LT7. We know LT6 is possibly a naturally-aspirated V8 with 700 horsepower and LT7 is a twin-turbo V8. LT2 might be a hybrid of some sort. Everyone seems to think General Motors will unveil the mid-engine Corvette at the Detroit Auto Show next year. We'll be keeping a close eye to see if this happens. Source: Car and Driver, Motor1 View full article

It may seem the internal combustion engine is on the last ropes as various automakers begin to put more efforts into electric vehicles and countries announcing bans on the sale of vehicles with these engines. But Mazda isn't willing to give it up with a fight. Robert Davis, Mazda North America Operations' senior vice president for special assignments told attendees at CAR Management Briefing Seminars in Traverse City, Michigan this week that the “impending death of the internal combustion engine is overrated.” “We certainly considered the adoption of new technologies, like battery electric vehicles, plug-ins, hybrids and the like Before we go to the time, effort and expense of adding electrification, we are convinced that a solid, efficient internal-combustion engine base is critical. The foreseeable future will use the internal-combustion engine as its main motive source, so that’s where the bulk of our engineering focus has been placed," said Davis. “Get the internal-combustion engine right, and it makes the whole system that much more efficient when you layer in electric systems, such as idle-stop, high-power charging systems with regenerative braking and ultimately series or parallel hybrids.” Due to Mazda being a small automaker, they cannot extend their limited r&d resources into developing different powertrains such as electrics and hybrids. They're basically going with 'run what ya brung'. Davis was also critical of governments trying to mandate particular types of powertrains to meet standards. Instead, it should be the industry to find the best solution. “What we need as an industry is a target, and we need to be left to find the best, most customer-acceptable way to reach that," Davis explained. “Take the $7,500 EV credit off the table? At the same time, you take the EV mandate off the table. Let the government keep the $7,500 and let the industry find the best way to meet the clean air standard. Make it a (carbon-dioxide emissions) target, a grams-per-mile target, a fuel-economy number, whatever feels best. But don’t mandate that we have to sell a particular type of powertrain,” It needs to be noted that Mazda is working on an EV for certain markets that will be launched in the coming years, using tech from Toyota. Source: Automotive News (Subscription Required), Wards Auto View full article

General Motors and PSA Group completed the sale of Opel/Vauxhall yesterday, effectively ending the era of GM’s European division. “It is a historic day. We are proud to join Groupe PSA and are now opening a new chapter in our history after 88 years with General Motors. We will continue our path of making technology `made in Germany´ available to everyone. The combination of our strengths will enable us to turn Opel and Vauxhall into a profitable and self-funded business. We have set ourselves the clear target of returning to profitability by 2020,” said Opel Automobile GmbH CEO Michael Lohscheller. As part of the sale, PSA Group paid 1.53 billion for the Opel and Vauxhall brands and $1.06 billion for the European arm of GM Financial. GM is still on the hook for existing pension obligations for Opel - estimated to be around $3.54 billion. The final part of the sale also marks some key changes of Opel and Vauxhall's leadership. Four new people - Christian Müller, Rémi Girardon, Philippe de Rovira, and Michelle Wen - will be joining the company's management. What happens next? The new management team will begin working on a new plan for the future of the two brands. The ultimate goal is to have Opel and Vauxhall return to profitability by 2020. Source: Reuters, Opel Press Release is on Page 2 Birth of a European Champion: Opel and Vauxhall join Groupe PSA Opel and Vauxhall to be operated as true iconic German and British brands New performance plan to be presented in 100 days: to generate a positive operational free cash flow by 2020 as well as an operating margin of 2% by 2020 and 6% by 2026 Four new team members to join the leadership team Rüsselsheim. The sale of Opel Automobile GmbH with its brands Opel and Vauxhall by General Motors to Groupe PSA has been finalized now. “It is a historic day,” said Opel Automobile GmbH CEO Michael Lohscheller. “We are proud to join Groupe PSA and are now opening a new chapter in our history after 88 years with General Motors. We will continue our path of making technology `made in Germany´ available to everyone. The combination of our strengths will enable us to turn Opel and Vauxhall into a profitable and self-funded business. We have set ourselves the clear target of returning to profitability by 2020.” “We are witnessing the birth of a true European champion today,” emphasized PSA Chairman of the board Carlos Tavares. “We will assist Opel and Vauxhall’s return to profitability and aim to set new industry benchmarks together. We will unleash the power of these iconic brands and the huge potential of its existing talents. Opel will remain German, Vauxhall will remain British. They are the perfect fit to our existing portfolio of French brands Peugeot, Citroën and DS Automobiles.” The market share of the enlarged Groupe PSA is now around 17 percent in Europe, making it the continent’s second largest carmaker with first or second place in main markets. As already assured when the contract was signed in March, all employee codetermination rights will remain unchanged. The Opel/Vauxhall management team will work on a plan for the future in the next 100 days. “We are eager to build the plan with PSA’s support and obviously together with our partners from the Works Council and the unions,” said Opel CEO Lohscheller. Synergies within the Groupe PSA, for example in purchasing and development, are set to play a major part. The combined entity will unlock substantial economies of scale and synergies in purchasing, manufacturing and R&D estimated at €1.7 Bn at run rate. The goal is to generate a positive operational free cash flow by 2020 as well as an operating margin of two percent by 2020 and six percent by 2026. Today’s start of a new era is accompanied by some important leadership changes. “I am happy to announce that four new members will join my management team,” said CEO Lohscheller: Christian Müller, previously Vice President Global Propulsion Systems – Europe and with Opel since 1996, will succeed William F. Bertagni as Vice President Engineering. He will integrate engineering and powertrain in one department. Rémi Girardon, previously Senior Vice President Group Industrial Strategy at Groupe PSA, will succeed Philip R. Kienle as Vice President Manufacturing. Philippe de Rovira, previously Group Controller at Groupe PSA, will become the new CFO of Opel, following Michael Lohscheller. Michelle Wen, Group Supply Chain Management Network Director at Vodafone Procurement, will be joining the Opel leadership team effective September 1 replacing Katherine Worthen currently Vice President Purchasing and Supply Chain. All other moves are with immediate effect. “We thank Katherine Worthen, William F. Bertagni and Philip Kienle for all their contributions to Opel/Vauxhall and wish them all the best for the next chapter of their careers within General Motors,” said Opel CEO Lohscheller. “And we cordially welcome Michelle Wen from Vodafone as well as Remi Girardon and Philippe de Rovira from Groupe PSA. I am looking forward to working with these new team members who will reinforce the potential of our leadership team.” Going forward, Michael Lohscheller is planning with a much leaner management structure, including the number of direct reports. “We are reducing complexity and increasing speed,” said Lohscheller. “I am looking forward to shaping the next chapter of Opel/Vauxhall with the new management team and leading our company into a successful future. The owners and the employees will not be the only ones to benefit from ever stronger Opel and Vauxhall brands – our customers will do so too.” PSA and Opel/Vauxhall have been working together since 2012. The cooperation so far includes four vehicles from Opel. The first model, the Opel Crossland X, has been available at dealerships since the end of June. The Opel Grandland X SUV in the next higher segment follows in the fall. The successor of the Opel Combo light commercial vehicle will come onto the market next year and as of 2019 the next generation of the best-selling Opel Corsa will be launched. Opel/Vauxhall and Groupe PSA will continue to work with General Motors in the future. In addition to development in the area of electric propulsion, Opel plants will continue to produce vehicles for the GM brands Buick and Holden. In parallel, the acquisition of GM Financial's European operations is under way, subject to validation by the different regulatory authorities’ review and is scheduled for the second half of 2017. View full article

Jaguar Land Rover North America, LLC today reported June 2017 U.S. sales Second Best ever Jaguar Land Rover U.S. June sales month Best June retail month since 2004 for Jaguar Best ever June sales month for Jaguar XE Jaguar F-PACE, winner of two 2017 World Car of the Year Awards, continues to be the brand’s volume leader for the month Best ever Land Rover U.S. June sales month driven by strong performances of Range Rover, Range Rover Sport and Discovery Sport Second Best ever Range Rover June sales month (MAHWAH, NJ) – July 5, 2017 -- Jaguar Land Rover North America, LLC today reported June 2017 U.S. sales: Jaguar sales were 2,946 units, a 7 percent increase from 2,743 units in June 2016; Land Rover sales increased slightly to 5,760 units; Jaguar Land Rover June U.S. sales for both brands hit 8,706 units, a 3 percent increase from 8,448 units in June 2016. Year to date, Jaguar Land Rover is up 19 percent in the United States. “We are proud that Jaguar Land Rover continues its positive sales momentum and has finished the first half of the year with a 19 percent sales increase,” said Joe Eberhardt, President and CEO, Jaguar Land Rover North America, LLC. “Land Rover had its best June sales month ever and the new generation of Jaguar vehicles, led by the F-Pace and XE, continue to make their mark in a very competitive market place." U.S. BRAND HIGHLIGHTS Land Rover For the month of June, Land Rover sales hit 5,760 units, the best June sales month for the brand. The Range Rover had its second best June sales month with 1,382 sales, up 23 percent from 1,125 units sold in June 2016. The Range Rover Sport was the volume leader with 1,594 units sold. In its first full month of sales, the new Discovery achieved 845 units sold, and Discovery Sport hit 1,014 sales. Jaguar For the month of June, Jaguar sales were 2,946 units, a 7 percent increase from 2,743 units in June 2016; making it the best June Jaguar sales month since 2004. The Jaguar XE, had its best June sales month ever, and hit 638 units sold. The Jaguar F-PACE hit 1,501 units sold, making it the brand’s volume leader for the month. The Jaguar F-PACE recently won two titles at the 2017 World Car Awards – World Car of the Year and World Car Design of the Year. The Jaguar F-TYPE hit 327 sales, up 7 percent from 306 units in June 2016. To mark the introduction of the new 18 MY F-TYPE range, at this year’s New York Auto Show Jaguar debuted an exclusive 400 SPORT special edition model.

Volvo Announces July Sales ROCKLEIGH, N.J. (August 1, 2017) - Volvo Car USA, LLC, (VCUSA) reported U.S. sales of 6,967 vehicles for the month of July. The top seller for the month was the XC90 with 2,521 vehicles sold. The sell-down of the current XC60 continues, while the first all-new XC60 customer cars arrived this month and were delivered. Volvo is implementing a sweeping $11 billion transformation plan that has involved the development of its own modular vehicle architecture, a new engine range, global manufacturing capability, a completely renewed product range and world leading developments in safety, autonomous driving and connectivity. Models July 2017 July 2016 % Year To Date 2017 Year To Date 2016 % S60 904 1,864 -51.5 % 6,853 7,649 -10.4 % S60 CC 32 42 -23.8 % 139 362 -61.6 % S80 0 79 - 5 403 -98.8 % S90 855 259 230.1 % 3,809 267 1,326.6 % V60 121 384 -68.5 % 1,690 2,119 -20.2 % V60 CC 127 339 -62.5 % 1,604 1,464 9.6 % V90 47 0 100.0 % 61 0 100.0 % V90 CC 176 0 100.0 % 1,067 0 100.0 % XC60 1,329 2,097 -36.6 % 10,240 10,928 -6.3 % XC60 II 855 0 100.0 % 979 0 100.0 % XC70 0 632 - 73 3,141 -97.7 % All-New XC90 2,521 2,888 -12.7 % 14,552 18,905 -23.0 % Total 6,967 8,584 -18.8 % 41,072 45,238 -9.2 % * I, II, III etc shows which generation the car model belongs to.

Hyundai Motor America Reports July Sales And Best Tucson Month Of All Time Tucson Has its Best Month Ever; Up 46 Percent Year-Over-Year; Surpasses 11,000 Units in a Month for the First Time Best July CUV Sales Hyundai Fleet Mix Under 10 Percent Genesis G80 Up 5 Percent Compared with Last Month FOUNTAIN VALLEY, Calif., Aug. 1, 2017 /PRNewswire/ -- Hyundai Motor America today reported July sales of Hyundai and Genesis branded vehicles of 54,063 units, a 28 percent decline compared with the company's best July ever in 2016. The decrease is largely attributed to a continued reduction of fleet sales that were under 10 percent for the month. SALES BY BRAND July-17 July-16 2017 YTD 2016 YTD Hyundai 52,419 75,003 388,860 449,063 Genesis 1,644 0 11,563 0 TOTAL 54,063 75,003 400,423 449,063 HYUNDAI BRAND HIGHLIGHTS "While July proved to be tough for the entire industry, the Hyundai Tucson achieved another record-breaking month and our CUV sales were the second best in Hyundai history," said Sam Brnovich, executive director, National Sales, Hyundai Motor America. "We continue to substantially decrease our fleet sales and when the 2016 comparable is an all-time best month, it leads to an overall decrease. We have a positive outlook for the remainder of the year as our brand metrics such as consideration, opinion and dealer leads are strong. With the 2018 Sonata being well-received and the success of our CUVs, we are working hard with our dealers to increase retail sales for the year." HYUNDAI MODELS Vehicle July-17 July-16 2017 YTD 2016 YTD Accent 2,115 7,046 34,630 46,376 Azera 233 385 2,025 2,958 Elantra 13,287 20,629 113,539 116,935 Equus 0 119 19 1,154 Genesis 47 2,117 1,003 19,501 Santa Fe 12,749 14,336 72,761 71,772 Sonata 10,648 20,635 86,963 125,044 Tucson 11,257 7,728 62,964 50,392 Veloster 831 2,008 8,823 14,931 Ioniq 1,252 0 6,133 0 GENESIS BRAND HIGHLIGHTS "Genesis G80 and the G80 Sport performed well in July, up 5 percent compared with June, and G90 received significant recognition from two of the industry's most reputable third parties," said Erwin Raphael, general manager of Genesis in the U.S. market. "Consumer response to the brand and our vehicles is a great indication that we are delivering on our promise of a new luxury experience that is truly resonating with customer's expectations." The Genesis G90 was recognized by two industry-leading third parties during the month -- Strategic Vision named the flagship as the highest quality vehicle in the luxury car segment, while J.D. Power rated it as the most appealing vehicle in the Large Premium Car segment in its U.S. Automotive, Performance, Execution and Layout (APEAL) study. Also in the APEAL study, the Genesis brand placed second among premium vehicles. GENESIS MODELS Vehicle July-17 July-16 2017 YTD 2016 YTD G80 1,339 0 9,005 0 G90 305 0 2,558 0

OUTLANDER HAS ITS BEST JULY SALES MONTH EVER AS MITSUBISHI REPORTS JULY 2017 SALES Total reported July sales of 8,025 are up 1.7 percent over last July Outlander has its best July sales month ever with 2,530 units sold, up 29.6 percent Mirage sales are up 21.9 percent over July 2016 CYPRESS, Calif. – Mitsubishi Motors North America, Inc. (MMNA) reported July 2017 sales of 8,025, up 1.7 percent over July 2016. The Outlander CUV closed the month of July with some fireworks posting its best July sales ever. Total Outlander sales were 2,530, an increase of 29.6 percent over July 2016. Not to be outdone, Mirage also had a big month with 1,560 units sold, an increase of 21.9 percent over last year. Total 2017 calendar-year sales are up 4.6 percent compared to last year at this time with 62,601 units sold. July YTD 2017 2016 2017 2016 i‐MiEV 0 20 6 40 Mirage 1560 1280 15247 14453 Lancer 1025 1093 8842 9527 Outlander Sport 2910 3545 17976 20376 Outlander 2530 1952 20530 15428 Total 8025 7890 62601 59824

Porsche Announces July 2017 Sales U.S. Porsche Dealers sell 3,901 vehicles in July 2017 ATLANTA, Aug. 1, 2017 /PRNewswire/ -- Porsche Cars North America, Inc. (PCNA), importer and distributor in the United States of the Porsche 911, 718 Boxster and Cayman, Panamera, Cayenne, and Macan model lines, today announced record July 2017 sales of 3,901 vehicles. This represents a 0.6 percent increase over July 2016. Year-to-date, deliveries are up 2.9 percent compared to 2016 with 31,469 vehicle sales. "For the twelfth consecutive month, we have topped previous-year results. This is an excellent outcome. In addition, we are pleased to see the new Panamera continues to be so well received," said Klaus Zellmer, President and CEO of Porsche Cars North America. The Macan continued to experience high demand in July with 1,600 deliveries, resulting in a sales increase of 71.9 percent compared to July 2016. Year-to-date, Macan sales are up 35.1 percent and stand at 12,238 vehicles. Panamera deliveries registered at 510, a 49.1 percent increase over last year. Year-to-date, Panamera sales are up 38.2 percent with 3,511 vehicles sold. Porsche Approved Certified Pre-Owned (CPO) vehicle sales in the U.S. were 1,457, a 2.2 percent increase compared to July 2016. Year-to-date, CPO sales are up 6.3 percent and stand at 10,408 for the first seven months of 2017. Model July Sales Year-to-Date 2017 2016 2017 2016 ALL 911 587 806 4,982 5,833 ALL BOXSTER/CAYMAN 331 732 2,805 4,094 ALL PANAMERA 510 342 3,511 2,540 ALL CAYENNE 873 1,067 7,933 9,058 ALL MACAN 1,600 931 12,238 9,060 GRAND TOTALS* 3,901 3,878 31,469 30,586 *918 Spyder sales are reflected in 2016 grand total figures.

Subaru of America, Inc. Reports July 2017 As Best July Ever Record July - monthly sales increase 7 percent over July 2016 68 consecutive months of yearly month-over-month growth Best July ever for Impreza and Outback 41 consecutive months of more than 10,000 Outbacks sold 48 consecutive months of more than 10,000 Foresters sold Cherry Hill, N.J. - Subaru of America, Inc. today reported 55,703 vehicle sales for July 2017, a 7 percent increase over July 2016, and the best July in the history of the company. The automaker also reported year-to-date sales of 360,513 vehicles, a 8.7 percent gain over the same period in 2016. July marked the 41st consecutive month of 40,000+ vehicle sales for the company. Impreza and Outback sales were notably strong as each model achieved its best July ever. Forester sales for July 2017 increased 2.9 percent over the same month in 2016. BRZ also enjoyed strong gains over July 2016. In July, the Impreza was recognized as one of Kelley Blue Book’s 10 Most Awarded Cars of 2017. So far this year, Kelley Blue Book has named the Impreza Best Resale Value in its Class, one of the 10 Best Sedans Under $25,000, and one of the 10 Coolest Cars Under $18,000. Subaru was also recognized as one of Kelley Blue Book’s Most Awarded Brands of 2017. “Given the extremely competitive market situation, we are pleased our sales growth continues to eclipse the previous July sales record set just last year,” said Thomas J. Doll, President and Chief Operating Officer, Subaru of America, Inc. “These record July and YTD results could not have been achieved without the sterling effort of our retailers, supported likewise by the dedicated efforts of our colleagues at Subaru of America, our distributor partners, as well as Subaru Corporation.” “With several 2018 models – including the all-new Crosstrek and refreshed Legacy, Outback, WRX and STI – now arriving at retailer show rooms, we expect excellent results over the final five months of the year to set our ninth consecutive sales record,” said Jeff Walters, senior vice president of sales, Subaru of America, Inc. Carline Jul-17 Jul-16 % Chg Jul-17 Jul-16 % Chg MTD MTD MTD YTD YTD YTD Forester 15,283 14,856 2.9% 103,240 95,111 8.6% Impreza 7,777 5,200 49.6% 50,803 34,965 45.3% WRX/STI 2,933 3,288 -10.8% 19,118 19,294 -0.9% Legacy 3,785 5,212 -27.4% 29,349 35,569 -17.5% Outback 17,581 14,704 19.6% 103,834 92,090 12.8% BRZ 372 353 5.4% 2,669 2,760 -3.3% Crosstrek 7,972 8,480 -6.0% 51,500 51,762 -0.5% TOTAL 55,703 52,093 6.9% 360,513 331,551 8.7%

Kia Motors America Announces July Sales Highest Monthly Sales Total in Company History for Forte Family of Compact Cars IRVINE, Calif., Aug, 1, 2017 /PRNewswire/ -- Kia Motors America (KMA) today announced July sales of 56,403 vehicles, led by the Forte family of compact cars with a best-ever total of 12,022 units sold, breaking the nameplate's previous monthly sales record set in May of this year. MONTH OF JULY YEAR-TO-DATE Model 2017 2016 2017 2016 Rio 1,587 3,331 8,272 18,699 Forte 12,022 10,303 70,768 63,045 Optima 7,933 9,780 67,650 70,847 Cadenza 523 335 3,178 3,091 K900 35 61 286 500 Niro 2,763 N/A 15,439 N/A Sportage 7,135 8,111 43,741 50,340 Sorento 9,734 9,854 59,990 68,932 Sedona 1,710 5,037 16,738 29,157 Soul 12,961 13,157 66,077 83,685 Total 56,403 59,969 352,139 388,296

BMW Group U.S. Reports July 2017 Sales BMW brand sales decrease 14.8 percent MINI brand sales decrease 7.9 percent Woodcliff Lake, NJ - August 1, 2017... Sales of BMW brand vehicles decreased 14.8 percent in July for a total of 21,965 compared to 25,777 vehicles sold in July 2016. Year-to-date, the BMW brand is down 4.6 percent in the U.S. on sales of 171,051 vehicles compared to 179,213 sold in the first seven months of 2016. Notable vehicle sales in July include the BMW 4 Series which increased 31.1 percent to 2,866 cars, the BMW 5 Series which increased 12.4 percent to 3,713 vehicles, and the BMW X5 which increased 8.8 percent to 2,986 vehicles. “Sedans made something of a comeback in July even as the dog days and summer vacations had their effect on the pace of business,” said Bernhard Kuhnt, President and CEO, BMW of North America. “The new BMW 5 Series continues gaining as availability improves. The highly popular BMW X3 is now undergoing model changeover and we are looking forward to the market launch of the all-new model later this year.” BMW Group Sales In total, the BMW Group in the U.S. (BMW and MINI combined) reported July sales of 26,363 vehicles, a decrease of 13.7 percent from the 30,551 vehicles sold in the same month a year ago. Year-to-date, BMW Group sales are down 5.5 percent on sales of 197,654 vehicles in the first seven months of 2017 compared to 209,131 in the same period in 2016. MINI Brand Sales For July, MINI USA reported 4,398 automobiles sold, a decrease of 7.9 percent from the 4,774 sold in the same month a year ago. Year-to-date, MINI USA reported a total of 26,603 automobiles sold, a decrease of 11.1 percent from 29,918 automobiles sold in the first seven months of 2016.

VOLKSWAGEN OF AMERICA REPORTS JULY 2017 SALES RESULTS July sales totaled 27,091 units, a decrease of 5.8 percent over July 2016 Year-to-date sales totaled 188,329, an increase of 5.9 percent Sales of the all-new Atlas totaled 1,306 units Herndon, VA — (August 1, 2017) Volkswagen of America, Inc. (VWoA) today reported sales of 27,091 units delivered in July 2017, a 5.8 percent decrease over July 2016. With 188,329 units delivered year-to-date in 2017, the company is reporting an increase of 5.9 percent in year-over-year sales. July 2017 also marks the start of sales for the all-new 2018 Tiguan, which joins the Chattanooga-built Atlas in Volkswagen’s new SUV lineup. Production ramp up of the Atlas continues as Volkswagen works to meet consumer demand. Deliveries of the 2018 Tiguan, which began late in the month, totaled 593 units. Atlas sales totaled 1,306 units. July 2017 Sales July 17 July 16 Yr/Yr% change July 17 YTD July 16 YTD Yr/Yr% change Golf 1,267 1,246 1.7% 8,437 7,326 15.2% GTI 1,747 2,417 -27.7% 12,480 13,269 -5.9% Golf R 158 222 -28.8% 2,484 2,792 -11.0% e-Golf 308 344 -10.5% 2,195 1,799 22.0% Golf SportWagen 2,103 1,122 87.4% 18,234 6,487 181.1% Total Golf Family 5,583 5,351 4.3% 43,830 31,673 38.4% Jetta Sedan 11,054 11,449 -3.5% 66,549 69,724 -4.6% Jetta SportWagen (now Golf SportWagen) n/a 1 -100.0% n/a 5 -120.0% Total Jetta 11,053 11,450 -3.5% 66,548 69,729 -4.6% Beetle Coupe 651 1,051 -38.1% 5,605 4,734 18.4% Beetle Convertible 708 477 48.4% 4,575 3,567 28.3% Total Beetle 1,359 1,528 -11.1% 10,180 8,301 22.6% Eos* n/a n/a n/a 1 387 -99.7% Passat 5,143 6,549 -21.5% 40,280 39,362 2.3% CC 95 193 -50.8% 1,014 1,874 -45.9% Tiguan 1,484 3,379 -56.1% 18,449 23,935 -22.9% 2018 Tiguan 593 n/a n/a 593 n/a n/a Touareg 475 308 54.2% 2,105 2,511 -16.2% Atlas 1,306 n/a n/a 5,329 n/a n/a TOTAL 27,091 28,758 -5.8% 188,329 177,772 5.9% *Eos production ended in July 2015

Nissan Group reports July 2017 U.S. sales NASHVILLE, Tenn. – Nissan Group announced total U.S. sales for July 2017 of 128,295 units, a decrease of 3 percent over the prior year. Nissan highlights: Overall sales of Nissan crossovers, trucks and SUVs set a July record, up 5 percent. Nissan Titan sales increased 232 percent to 3,791. Nissan Armada sales climbed to 2,477, up 309 percent. Nissan NV200 set a July record with 1,625 in sales, up 10 percent. Nissan LEAF sales increased to 1,283, up 21 percent. NISSAN DIVISION JULY JULY Monthly CYTD CYTD CYTD 2017 2016 % chg 2017 2016 % chg Nissan Division Total 117,455 122,530 -4.1 858,000 855,666 0.3 Versa 7,899 11,856 -33.4 64,457 84,317 -23.6 Sentra 18,724 18,536 1.0 131,298 141,550 -7.2 Cube 0 0 0.0 0 15 -100.0 Altima 22,314 24,949 -10.6 168,598 197,644 -14.7 Maxima 5,330 5,990 -11.0 36,849 36,743 0.3 LEAF 1,283 1,063 20.7 8,531 6,856 24.4 Juke 739 1,568 -52.9 7,984 14,124 -43.5 370Z 441 722 -38.9 2,930 3,702 -20.9 GT-R 30 52 -42.3 403 367 9.8 Total Car 56,760 64,736 -12.3 421,050 485,318 -13.2 Frontier 7,647 7,244 5.6 45,460 52,255 -13.0 Titan 3,791 1,143 231.7 28,255 7,242 290.2 Xterra 0 0 0.0 1 36 -97.2 Pathfinder 5,066 5,530 -8.4 50,533 45,289 11.6 Armada 2,477 606 308.7 16,632 5,857 184.0 Rogue 32,425 33,298 -2.6 228,114 182,181 25.2 Murano 6,314 6,271 0.7 41,010 45,764 -10.4 Quest 12 712 -98.3 4,933 9,519 -48.2 NV 1,338 1,510 -11.4 10,785 10,557 2.2 NV200 1,625 1,480 9.8 11,227 11,648 -4 Total Truck 60,695 57,794 5.0 436,950 370,348 18.0 INFINITI JULY JULY Monthly CYTD CYTD CYTD 2017 2016 % chg 2017 2016 % chg Infiniti Total 10,840 9,945 9.0 89,983 74,923 20.1 Infiniti Q40 0 1 -100.0 0 59 -100.0 Infiniti Q50 2,596 2,805 -7.5 22,199 23,059 -3.7 Infiniti Q60 765 62 1133.9 6,703 747 797.3 Infiniti Q70 375 507 -26.0 3,658 3,654 0.1 Infiniti QX30 729 0 0.0 10,122 0 0.0 Infiniti QX50 1,190 1,360 -12.5 9,145 9,984 -8.4 Infiniti QX60 3,505 3,701 -5.3 21,784 24,673 -11.7 Infiniti QX70 620 242 156.2 5,392 3,416 57.8 Infiniti QX80 1,060 1,267 -16.3 10,980 9,331 17.7 Total Car 3,736 3,375 10.7 32,560 27,519 18.3 Total Truck 7,104 6,570 8.1 57,423 47,404 21.1 NISSAN GROUP JULY JULY Monthly CYTD CYTD CYTD 2017 2016 % chg 2017 2016 % chg TOTAL VEHICLE 128,295 132,475 -3.2 947,983 930,589 1.9 Total Car 60,496 68,111 -11.2 453,610 512,837 -11.5 Total Truck 67,799 64,364 5.3 494,373 417,752 18.3 Selling days 25 26 177 178 # # #

Strong Sales of Core Models Drive American Honda July 2017 Auto Sales Aug 1, 2017 - TORRANCE, Calif. Honda Civic sets new July record, gaining 11.3% Honda HR-V has hottest month on record as it jumps 32.3% Honda core products Accord, Civic and CR-V all top 30,000 in sales in July Acura Division rises 3.7% in July on gains from ILX and RDX Acura trucks set new July record, rising 11.3% percent Acura RDX sets new July mark with a strong 28.2% increase American Honda Motor Co., Inc. today reported total July sales of 150,980 Honda and Acura vehicles, driven by the success of core models even as tight supplies of certain products contributed to a slight decrease of 1.2 percent vs. July 2016. Combined sales of Honda and Acura cars were up 1.9 percent on sales of 76,468, while combined trucks decreased 4.2 percent on sales of 74,512. Total Honda Division sales decreased 1.7 percent on sales of 136,803. Honda Division cars gained 2.8 percent with 72,557 vehicles sold in July, and Honda trucks were down 6.2 percent on sales of 64,246 units due mostly to limited inventory. Acura Division sales were up 3.7 percent in July on sales of 14,177 vehicles, with trucks rising 11.3 percent on sales of 10,266 for a new July record, and cars down by 12.2 percent on sales of 3,911 units. Honda Well-balanced sales of both cars and trucks were a familiar theme for the Honda Division in July. Despite tight supplies of Odyssey and certain CR-V, Pilot and Ridgeline models, Honda truck sales managed a solid showing against a record July 2016, with HR-V having its best month ever and CR-V surpassing 30,000 units for the month. Civic and Accord continued to show strength with sales above 30,000 units, with the hot new Civic Type R and Si variants bringing renewed energy to the showroom, helping overall Civic sales to a new July record. HR-V set a new all-time monthly record, gaining 32.3 percent on sales of 9,779. Civic sales reached 36,683 for a new July record, rising 11.3 percent for the month. Accord continued to show strength in July, surpassing 30K sales for the month. "Honda is the outlier in the industry in that we see solid demand for our products rather than demand for incentives to buy them," said Jeff Conrad, senior vice president of the Automobile Division of American Honda. "With models like Civic, Accord, CR-V, HR-V and Odyssey, each number one in their segments in retail sales for the first half of 2017, our position continues to get stronger." Acura Gateway models drove Acura's success in July, with RDX setting a new July mark to lift Acura trucks to a new record for the month, and ILX gaining 10 percent for the month as Acura's gateway sports sedan showed a second consecutive monthly increase. TLX continued to sell well in July with the A-Spec model drawing showroom interest, but tight supplies due to strong sales the past two months limited total TLX sales in July. Acura trucks set new July mark, gaining 11.3 percent on sales of 10,266 vehicles. RDX sales set a new July record with a 28.2 percent gain on sales of 5,539. ILX sales rose for the second straight month, up 10.1 percent in July on sales of 1,322 units. "In the face of increased fleet sales in the luxury market we continue to focus on the growing momentum of the Acura brand with retail customers," said Jon Ikeda, vice president & general manager of the Acura division. "We're excited with the drawing power of our products and the sales success of our gateway models to millennial buyers shows that our product and marketing direction is beginning to pay dividends."

Toyota Motor North America Reports U.S. Sales for July 2017, Sets New Record for RAV4 More than 40,000 RAV4 sold for all-time record month Toyota, Lexus divisions post best-ever July light truck sales Lexus NX and Toyota Highlander post best-ever July PLANO, Texas, Aug. 1, 2017 /PRNewswire/ -- Toyota Motor North America (TMNA) Inc., today reported July 2017 sales of 222,057 units. With the one less selling day in July 2017 compared to July 2016, sales were up 3.6 percent on volume and up 7.8 percent on a daily selling rate (DSR) basis. Toyota division posted July sales of 193,155 units, up 3.6 percent on a volume basis, and up 7.8 percent on a DSR basis. "In July, Toyota division saw its strongest month of the year so far, and our second consecutive month of year-over-year increases based on sales volume," said Jack Hollis, group vice president and general manager, Toyota division. "We are thrilled to see RAV4 sales top 40,000 units in a single month – it is not only a milestone for us, but has set a new best-ever, all-time record monthly total. We continue to see momentum in the industry for light trucks, and are positioned well with strong availability of our SUVs. We are equally excited that the all-new 2018 Camry is receiving a strong reception as it started to hit dealer showrooms last week." Lexus posted July sales of 28,902 units, up 3.6 percent on a volume basis, and up 7.8 percent on a DSR basis. "Lexus utility vehicles had a stellar month, with a best-ever July for NX as well as the total LUV lineup, driving Lexus to its second-best July in history," said Jeff Bracken, Lexus group vice president and general manager. "We were also pleased to see strong ES sales in July, with sales up significantly over last year. We're looking forward to a robust August, with healthy inventory and the continuation of the Golden Opportunity Sales Event." July 2017 Highlights: Camry posts July sales of 33,827 units RAV4 posts sales of more than 41,800 units Highlander sales increased by 25 percent; posts new best-ever July 4Runner sales of 9,874 units in July Tacoma sales rise by nearly five percent in July Tundra posts July sales of 10,546 units Lexus posts second-best July in its history ES posts sales of 6,641 units for best July in a decade NX sets new best-ever July, up 15.3 percent LX up more than 14 percent in July RX sees 13 percent gain in July *Note: Unless otherwise stated, all figures reflect unadjusted raw sales volume TOYOTA U.S. SALES SUMMARY JULY 2017 -- CURRENT MONTH -- -- CALENDAR YEAR TO DATE -- 2017 2016 DSR % VOL % 2017 2016 DSR % VOL % TOTAL TOYOTA 222,057 214,270 7.8 3.6 1,377,222 1,412,072 -1.9 -2.5 TOTAL TOYOTA DIV 193,155 186,380 7.8 3.6 1,214,560 1,232,618 -0.9 -1.5 TOTAL LEXUS 28,902 27,890 7.8 3.6 162,662 179,454 -8.8 -9.4 YARIS IA (INCL SCI IA) 3,333 3,007 15.3 10.8 22,081 19,434 14.3 13.6 YARIS LIFTBACK 361 794 -52.7 -54.5 7,217 7,378 -1.6 -2.2 TOTAL YARIS 3,694 3,801 1.1 -2.8 29,298 26,812 9.9 9.3 iQ 0 0 0 0 0 6 -100 -100 xD 0 0 0 0 0 8 -100 -100 xB 0 29 -100 -100 0 2,658 -100 -100 tC 7 1,104 -99.3 -99.4 181 6,890 -97.4 -97.4 COROLLA IM (INCL SCI IM) 1,733 1,601 12.6 8.2 12,664 10,682 19.2 18.6 COROLLA SEDAN 26,600 31,717 -12.8 -16.1 192,196 213,910 -9.6 -10.2 TOTAL COROLLA 28,333 33,318 -11.6 -15 204,860 224,592 -8.3 -8.8 86 (INCL FR-S) 655 682 -0.1 -4 4,391 4,465 -1.1 -1.7 MIRAI 82 52 64 57.7 790 270 194.2 192.6 AVALON 2,859 3,754 -20.8 -23.8 19,594 27,069 -27.2 -27.6 PRIUS 9,384 12,697 -23.1 -26.1 64,484 80,102 -19 -19.5 CAMRY 33,827 34,123 3.1 -0.9 210,724 233,884 -9.4 -9.9 TOTAL TOYOTA DIV. CAR 78,841 89,560 -8.4 -12 534,322 606,756 -11.4 -11.9 CT 442 849 -45.9 -47.9 4,368 5,364 -18.1 -18.6 IS 2,443 3,461 -26.6 -29.4 14,771 20,560 -27.8 -28.2 RC 522 977 -44.4 -46.6 3,621 6,269 -41.9 -42.2 ES 6,641 5,497 25.6 20.8 28,441 33,390 -14.3 -14.8 GS 652 1,218 -44.3 -46.5 4,205 8,670 -51.2 -51.5 LS 402 433 -3.4 -7.2 2,257 3,311 -31.4 -31.8 LC 313 0 0 0 1,158 0 0 0 LFA 1 0 0 0 1 6 -83.2 -83.3 TOTAL LEXUS CAR 11,416 12,435 -4.5 -8.2 58,822 77,570 -23.7 -24.2 TOTAL TOYOTA CAR 90,257 101,995 -8 -11.5 593,144 684,326 -12.8 -13.3 SIENNA 11,100 11,734 -1.6 -5.4 67,258 79,959 -15.4 -15.9 C-HR 3,444 0 0 0 8,942 0 0 0 RAV4 41,804 31,886 36.3 31.1 226,570 197,786 15.2 14.6 FJ CRUISER 1 2 -48 -50 3 8 -62.3 -62.5 VENZA 0 20 -100 -100 13 563 -97.7 -97.7 HIGHLANDER 19,017 15,213 30 25 118,992 97,142 23.2 22.5 4RUNNER 9,874 9,599 7 2.9 73,395 64,067 15.2 14.6 SEQUOIA 963 1,025 -2.3 -6 7,174 7,322 -1.5 -2 LAND CRUISER 193 287 -30.1 -32.8 1,725 1,960 -11.5 -12 TOTAL TOYOTA DIV. SUV 75,296 58,032 34.9 29.7 436,814 368,848 19.1 18.4 TACOMA 17,372 16,580 9 4.8 111,968 111,615 0.9 0.3 TUNDRA 10,546 10,474 4.7 0.7 64,198 65,440 -1.3 -1.9 TOTAL TOYOTA DIV. PICKUP 27,918 27,054 7.3 3.2 176,166 177,055 0.1 -0.5 TOTAL TOYOTA DIV. TRUCK 114,314 96,820 22.8 18.1 680,238 625,862 9.3 8.7 NX 5,406 4,689 19.9 15.3 31,429 27,979 13 12.3 RX 9,632 8,522 17.5 13 56,369 57,934 -2.2 -2.7 GX 2,075 1,918 12.5 8.2 12,972 13,068 -0.2 -0.7 LX 373 326 19 14.4 3,070 2,903 6.4 5.8 TOTAL LEXUS TRUCK 17,486 15,455 17.7 13.1 103,840 101,884 2.5 1.9 TOTAL TOYOTA TRUCK 131,800 112,275 22.1 17.4 784,078 727,746 8.3 7.7 Selling Days 25 26 177 178 DSR = Daily Selling Rate

Mazda Reports July Sales Mazda CX-5 Continues Record-Breaking Sales Trend IRVINE, Calif., Aug. 1, 2017 /PRNewswire/ -- Mazda North American Operations (MNAO) today reported July U.S. sales of 27,089 vehicles, representing a decrease of 3 percent versus July of last year. Year-to-date (YTD) sales through July are down 2.6 percent versus last year, with 168,713 vehicles sold. With 25 selling days in July 2017, versus 26 the year prior, the company posted an increase of 0.9 percent on a Daily Selling Rate (DSR) basis. In July, Mazda became the only full-line automaker to have every 2017 model year vehicle tested by the Insurance Institute for Highway Safety (IIHS) be rated a "Top Safety Pick+," when equipped with optional front crash-prevention and specific headlights. Key July sales notes: Achieving its fourth record-breaking sales month in a row, the Mazda CX-5 posted sales of 11,402 vehicles in the month of July. This number represents a YOY increase of 5.3 percent and is the best-ever July since the compact crossover SUV first went on sale in 2012. Sales of the Mazda MX-5 Miata remained strong in the month of July, with the roadster posting a year-over-year (YOY) increase of 13.2 percent. Total sales, which includes both the MX-5 soft top and MX-5 RF, reached 997 vehicles sold in the month of July. The three-row Mazda CX-9 finished the month up 3.3 percent YOY, with 2,318 vehicles sold. As crossover SUVs continue to dominate the market, sales of Mazda's CX-line remain strong, with the CX-3, CX-5 and CX-9 collectively reaching 15,201 vehicles sold in the month of July. This number represents an increase of 4.3 percent YOY, and a YTD increase of 15.9 percent. The i-ACTIV All-Wheel Drive option continues to be a favorite among Mazda CX-line buyers, with 62.9 percent of customers choosing the AWD option in the month of July. Month-To-Date Year-To-Date July July % % MTD July July % % YTD 2017 2016 Change DSR 2017 2016 Change DSR Mazda2 - - N/A N/A - 3 (100.0)% (100.0)% Mazda3 7,407 8,103 (8.6)% (4.9)% 47,241 59,484 (20.6)% (21.0)% Mazda5 2 17 (88.2)% (87.8)% 9 346 (97.4)% (97.4)% Mazda6 3,482 4,341 (19.8)% (16.6)% 21,491 27,804 (22.7)% (23.1)% MX-5 Miata 997 881 13.2% 17.7% 7,970 6,265 27.2% 26.5% CX-3 1,481 1,499 (1.2)% 2.8% 9,092 11,002 (17.4)% (17.8)% CX-5 11,402 10,831 5.3% 9.5% 68,479 62,442 9.7% 9.0% CX-9 2,318 2,243 3.3% 7.5% 14,431 5,924 143.6% 142.2% Total Vehicles CARS 11,888 13,342 (10.9)% (7.3)% 76,711 93,902 (18.3)% (18.8)% TRUCKS 15,201 14,573 4.3% 8.5% 92,002 79,368 15.9% 15.3% TOTAL 27,089 27,915 (3.0)% 0.9% 168,713 173,269 (2.6)% (3.2)% Selling Days 25 26 177 176