2014 First Quarter - Hawaii Automobile Dealers Association

The Official Publication of the Hawaii Automobile Dealers Association
2014 First Quarter
Hawaii was the center for fuel once —
will it be again, this time in renewables?
Story on page 14
Other Stories in this Edition...
HADA executive committee
reviews legislative issues over
luncheon meeting
13
Hawaii Auto Outlook
™
Dealer Day at the State Capitol.
Mike Niethammer (left) with
Gov. Neil Abercrombie
9
State new vehicle market
predicted to move higher in 2014
18
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Hawaii Automobile Dealers Association
1100 Alakea Street, Suite 2601
Honolulu, HI 96813
(808)593-0031 • Fax (808)593-0569
2013-2014 HADA
2012-2013
irectors
Officers & DirectOrs
President
resident
P
Mike Niethammer
President
resident-Elect
P
-elect
Bill van den Hurk
Vice
ice President
President
V
Eric Fukunaga
Secretary
ecretary
s
Wayne
DeLuz
Joe Nicolai
Treasurer
reasurer
t
John Uekawa
NADA Director
nada director
Stan
JoeMasamitsu
Hanley
Hawaii Director
Hawaii director
Brian
Kitagawa
Wayne
De Luz
Maui Director
Maui director
Damien
Farias
Damien Farias
Oahu Director
oaHu director
Stan
Masamitsu
Stan Masamitsu
Oahu Director
oaHu director
Morrie
Stoebner
Morrie Stoebner
Oahu Director
oaHu director
Kenny
Ching
Jack
Jackson
Oahu Director
oaHu director
Dan Keppel
Keppel
Dan
Kauai Director
Kauai director
Ryan
Mackey
Dan Mackey
At Large Director
at large director
Keoni Hansen
Hansen
Keoni
At Large Director
iMMediate Past President
Inder
NickDosanjh
Cutter
Immediate Past President
Much HADA thanks goes to
Congresswoman Hanabusa
Acting on HADA’s request,
Congresswoman
Colleen
Hanabusa wrote a letter to
the director of the Consumer
Financial Protection Bureau
with questions regarding the
Bureau’s March 21 Guidance
on dealer-assisted financing.
As we all know, the Bureau
charged that auto dealers
across the nation had engaged in (even though perhaps inadvertently) what the
Bureau officials termed “disparate impact” discrimination with regard to protected
classes on dealer-assisted financing.
In the Bureau’s response to the Congresswoman the director stated that
the loan finance amounts were not considered in the Bureau’s analysis.
This was new information--that revealed a possible flaw in the CFPB’s analysis of dealer-assisted financing.
The helpful assistance of Congresswoman Hanabusa and her staff helped
achieve a breakthrough in understanding how the Bureau pursued their
study.
As more discussions on this issue continue with the Bureau, NADA has
published a helpful Fair Credit Compliance Guide. HADA has ordered 300
copies which will be available at the HADA office at the auto show. It is
also available online at www.nada.org
Much thanks to all for the work on this issue.
Mike Niethammer
2013 – 2014 HADA President
HADA
STAFF
Nick Cutter
Executive Director
HADA
DaveSTAFF
Rolf
Executive Director
Dealer Services Manager
DaveCochard
Rolf
George
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Phone: 808 593-0031 Fax: 808 593-0569 Email: drolf@hawaiidealer.com
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Dealer Day
at the State Capitol
Governor Neil Abercrombie discusses issues
relating to the auto industry with HADA
president-elect Bill van den Hurk at the Dealer
Day at the State Capitol, January 16.
D
ealers and senior managers representing most of Hawaii's new-car dealerships joined more than 50
members of the State House of Representatives and State Senate to enjoy an informal discussion on
issues facing the retail auto industry in Hawaii. Plate lunches from Kaka'ako Kitchen were provided
for the HADA-sponsored "Dealer Day at the Capitol" held 11:30 – 1 p.m., Thursday, January 16, 2014 in
Room 329 at the State Capitol.
Energy will be a subject of legislation likely to be discussed at length during this year's legislative session. The
Car Factor is playing a growing role in Hawaii's energy economy. Electric vehicles provide a market for offpeak electric charging through the power grid, and the possible introduction of hydrogen fuel cell vehicles in
the next few years may provide a commercial market for renewable, Hawaii-produced fuel. The development
of hydrogen fueling infrastructure in Hawaii has been funded for years by a portion of the $1.05/barrel tax
on imported oil. The barrel tax sunsets next year and there will be legislation relating to extending the tax
beyond its designated sunset in 2015 to accommodate the continued development of hydrogen fueling
infrastructure. HADA continues to support the goals of the Hawaii Clean Energy Initiative, with the goal 70%
clean energy by 2030—with 40% coming from renewable energy and 30% from efficiencies.
9
Pete Luke, Bill van den Hurk, Keoni Hansen, Ivan Nakano, Kenny Ching, Rep. Lauren Matsumoto, Michael Stoebner, Alan Ueyoka, Brian Kitagawa
Rep. Ryan Yamane and Stan Masamitsu
Mark Bensen, Rep. Bert Kobayashi, Mary Bensen
Thor Toma, Eric Fukunaga, Mary Bensen, Rep. Gregg Takayama, Mark Bensen
Sen. Mike Gabbard and Stan Masamitsu
10
Mike Niethammer greets Rep. Justin Woodson
Mike Niethammer, Speaker Joe Souki
and Eric Fukunaga
Eric Fukunaga, Rep. Chris Lee (background)
Rep. Aaron Johanson and Rep. Beth Fukumoto
Rep. Mark Hashem
Rep. Linda Ichiyama
Eric Fukunaga, Sen. David Ige, Thor Toma
Kenny Ching and Rep. Rida Cabanilla
Mark Bensen, Mary Bensen,
Rep. Clift Tsuji, Rep. Gene Ward
Sen. Sam Slom, Rep. Della Au Belatti, Sen. David Ige
Rep. Jo Jordan and Kenny Ching
Rep. Derek Kawakami, Charlie King, Mike Niethammer
Alan Ueyoka, Michael Stoebner, Rep. Mark Takai,
Keoni Hansen, Stan Masamitsu
Rep. Gene Ward, Charlie King,
and Rep. James Tokioka
Russ Wong, left, Bill van den Hurk, center discuss new
Safety Check program with Gov. Abercrombie
Stan Masamitsu
and Rep. Laura Thielen
Rep. Richard Creagan and Sen. Les Ihara
11
Sen. Michelle Kidani, Stan Masamitsu,
and Rep. Bertrand Kobayashi
Sen. Rosalyn Baker,
Bill van den Hurk
Rep. Sylvia Luke, Thor Toma, Eric Fukunaga,
Rep. Mark Nakashima
Mike Niethammer, Sen. Will Espero
and Erik Soderholm
12
Mike Niethammer and Rep. Faye Hanohano
Sen. Brian Taniguchi and Stan Masamitsu
Mike Niethammer, House Speaker Emeritus
Calvin Say, Ivan Nakano
Rep. Tom Brower, Erik Soderholm, Charlie King
Sen. Clarence Nishihara, Charlie King, Sen. Kalani English, Sen. Ron Kouchi
Rep. Angus McKelvey
and Mike Niethammer
Rep. Bob
McDermott
Mary Bensen, Sen. Kalani English, Mark Bensen
Rep. Scott Nishimoto and Rep. Chris Lee
Keoni Hansen and Sen. Laura Thielen
Rep. Kaniela Ing
Rep. John Mizuno
Rep. Marcus Oshiro
Rep. Richard Fale
Stan Masamitsu and Rep. Scott Saiki
U pdate on the ongoing
2014 L egi s lat i v e S e s s i o n
• HADA has filed opposition testimony on SB2685, a bill to impose a $1 tax on replacement tires.
• HADA filed support testimony on HB2509, which would replenish the abandoned tire fund
• HADA filed support testimony on HB2658, which would use some of the barrel tax to create hydrogen fuel
station infrastructure.
• HADA is monitoring SB2896 which “clarifies that the General Excise Tax (GET) imposed upon the wholesale
sale of tangible personal property is generally one-half of one percent of the gross proceeds of the sale.”
• HADA is monitoring the minimum wage bills (HB2580 and SB2609) which would raise the $7.25 min. wage
by $2.25 and $2.85 respectively over the next three years. The House bill raises the minimum hourly wage
75-cents per year, while the Senate bill raises it by 95 cents per year. Both bills delete the tip credit and
attach future increases to the Consumer Price Index.
13
Cover Story
Hawaii
At the Center of Innovation
For a time, Hawaii was at the epicenter of the
world fuel that was used for light.
Up to 800 whaling ships plied island waters around Lahaina in the early
part of the 19th century.
The clean-burning whale oil obtained from harvesting the giants of the
deep was used to lubricate the new machines of the burgeoning industrial age. The oil was also perfect for lamps. New Bedford Mass, the East
In the late 1800s, Hawaii’s King Kalakaua visited with the famed inventor. Iolani Palace subsequently was lit with electric lights.
The king used hydro power from a dam on Nuuanu stream to create his
electricity.
The first car in the islands was, in fact, a Woods Electric, brought in October 1898, by Henry P. Baldwin—of Alexander & Baldwin—and interestingly a relation through marriage lines to HADA’s current present, Mike
Niethammer, a Nissan dealer, who sells the LEAF.
Coast American city, in fact, was called the “city that lit the world.”
Today, more Hawaii homeowners are duplicating King Kalakaua’s conLahaina, a whaling town, was Hawaii’s first capital.
Later in the 1800s, things rapidly changed. A new drilling technique,
that involved pipe-reinforced well walls in Pennsylvania, was developed
to allow easy extraction of petroleum.
When John D. Rockefeller came along and developed a way to inexpensively refine kerosene – the ancient “darkness that cometh when no man
cept, and creating their own electric grids to power lights, air conditioning, home appliances…. and even their own personal transportation.
Hawaii now has the nation’s highest per capita use of photovoltaic energy production.
Hawaii’s 1 home in every 10 embrace of photovoltaic--with many of
Hawaii’s 1,500 EV owners now combining PV +EV -- has caused some
problems, however.
can work” was pushed back. Productivity increased. Book publishing
14
flourished. Even remote rural farmers began to find use for the night
Hawaiian Electric Company receives the excess daytime power feed-ins
hours.
from many PV homes and then through net-metering, feeds their electric
Then, of course, along came Edison, and the electric light – making use
turbines. But with a growing amount of so-called non-firm power, this
of new electric power.
grid has problems.
power back at night -- produced by oil-fired generators or wind-powered
HECO officials now restrict the number and size of PV systems that can
route electricity through their many neighborhood “distribution transformers.” These transformers are seen either on poles or on concrete
pads in neighborhoods around Hawaii. High voltage electricity is transformed to 120v/240v for use in homes and transformers allow load variances of input and demand to be accommodated.
Initially HECO used a 15% load factor limit from PV-equipped homes
using on a single neighborhood distribution transformer. Soon, however,
homeowners who sought installation after their neighbors and applied
for the permits, were asked to pay for costly “studies” to determine if
the neighborhood distribution transformer could handle the additional
variable PV load.
Some of these homeowners complained about the delays and additional
costs -- saying that the 15% limit on the transformer was “arbitrary”
and not backed by sufficient data to illustrate a distribution problem.
Enter the electric car….and a $30 million Japan-funded study conducted by Hitachi officials on Maui—to see how Smart Grid distribution of
electricity in PV homes could eventually allow fewer traditional oil-fired
generators to be on line. There is even discussions on how EV batteries
can serve as backfill—which would provide storage of electricity to be
used to backfill when unfirm wind is online at night and load levels need
to be supported by electricity that is stored in batteries.
Hawaii finds itself again at the epicenter of world attention on clean
fuel.
This time, though, the focus is renewable fuel—reflected in the adoption
goals of the 2008 Hawaii Clean Energy Initiative.
As pointed out in this edition’s story on Dealer Day at the Capitol, much
legislation in the 2014 legislative session is focused on hydrogen fuel
station adoption, the barrel tax, and laws facilitating use of electric vehicles.
Hawaii’s adoption rate for EVs, up until the higher goals set for this year,
had remained roughly on track.
It is clear, now though, that the efficient use of the distribution transformers in neighborhoods, and perhaps, more importantly, the general
education issues surrounding the benefits for Hawaii customers who
make use of Hawaii-produced renewable-energy in their vehicles, are
issues that need to be soon resolved.
Hawaii’s new car dealers are ardently pursuing ways to help the process.
15
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
2013 Summer Edition
2013 Convention Edition
2013 Fourth Quarter
2013 First Quarter
Miss Hawaii USA 2013 Brianna Acosta and
Miss Hawaii Teen USA 2013 Samantha Neyland
Welcome Speakers at VIP Preview Night
Autowatts’ CEO Alex Tiller
Speaking at HADA Board Meeting,
December 13, 2012
Asking
for Help
Cars
&
Energy
recap
THe Issue:
CFPB says U.S. dealers are
using discriminatory loan
practices
NADA questions the data, and
asks for a copy of their analysis.
HADA Dealers
support requesting
transparency from CFPB
But CFPB hasn’t provided it,
so far.
Dealers Ask Autowatts
to Exhibit at 2013 Auto Show
Hawaii’s show was in TOP 3 of
MotorTend-produced 21 shows
Autowatts story on pg. 21
HADA sent representatives to Washington D.C., asking help from our
Members of Congress,in requestiong that CFPB provide the data.
Other Stories in this Edition:
Other Stories in this Edition:
See page 4
Other Stories in this Edition...
March 22-24
Hawaii Convention Center
Dealer Day at the Capitol: Keoni Hansen greets
Gov. Neil Abercrombie, Mike Niethammer (center) pg. 6
Cars·Technology·Fun
pg. 18
2013 Legislative Session Update
pg. 16
More than 400 guests attended
the VIP Preview Night
The HADA board assisted Governor Neil
Abercrombie with the official seat belt
unbuckling to open the show.
Governor Abercrombie takes a close look at
the $1.4 million Maserati MC12 which was
one of 350 cars and trucks on display
U.S. Senator
Brian Schatz
U.S. Senator
Mazie Hirono
U.S. Representative
Colleen Hanabusa
U.S. Representative
Tulsi Gabbard
State Teacher of the Year
receives free car use (for a year),
compliments of Cutter Mazda and
Mazda North America Operations
12
HADA chart is used
for many things
10
HADA launches
$1,000 automotive
training scholarships
Advertise In The HawaiiDealer
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.
Also see the HADA website at www.hawaiiautodealer.com
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Covering Data thru December 2013
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Hawaii
Hawaii Auto
AutoOutlook
Outlook
™
Volume 13, Number 1
Volume 13, Number 1
TM
Sponsored by: Hawaii Automobile Dealers Association
Sponsored by: Hawaii Automobile Dealers Association
FORECAST
FORECAST
State New
Vehicle Market Predicted to Move Higher in 2014
New retail New
registrations
are expected
to exceed Predicted
51,000 units and increase
for the Higher
fourth straight
State
Vehicle
Market
to Move
inyear
2014
Forecasting
automotive
sales is aare
delicate
balancingto
act.
There are51,000 units
• Household
sheets.
have straight
made considerable
New
retail
registrations
expected
exceed
and balance
increase
forConsumers
the fourth
year
frequently conflicting indicators that can provide mixed signals on future
Forecasting
automotive
salesis is
a delicate
balancing
There are
market conditions.
The trick
identifying
these
trends, act.
separating
the
frequently
conflicting
indicators
that
can
provide
mixed
signals
on
meaningful from the meaningless, and forming a consensus on where
future market conditions. The trick is identifying these trends, sepathe market is headed. Below, we identify the key positive and negative
rating the meaningful from the meaningless, and forming a consensus
forces
that
likely istoheaded.
impact the
market
in 2014.the key positive and
on
where
theare
market
Below,
we identify
negative forces that are likely to impact the market in 2014.
Forces leading the market higher
• Low
interest
and strong
Forces
leading
therates
market
higheraffordability. Low interest rates and
mild inflation, combined with decent personal income growth
kept new
affordability
at historically
strong
levels.
• Lowhave
interest
ratesvehicle
and strong
affordability.
Low interest
rates
and
mild inflation, combined with decent personal income growth have
• Improving
economic
growth.atMost
economists
expect
GDP growth
kept
new vehicle
affordability
historically
strong
levels.
headway in reducing debt, but are largely hesitant to fund
future,
a lingering
consequence
of more
the 2008
increases
in spending
by adding on
debt. financial crisis, and
ensuing economic recession.
Wrap up: Positive factors will lead the market higher in 2014, but we
• Household
balance
sheets.
Consumers
have
made factors
considerable
believe
that for at
least the
next two
years, the
negative
will
debt,
are largely
placeheadway
a ceilinginonreducing
how high
newbutvehicle
sales hesitant
will go, to
andfund
we increascould
es in spending by adding on more debt.
approach that ceiling by 2015.
Wrap up: Positive factors will lead the market higher in 2014, but we
believe that for at least the next two years, the negative factors will
3 Key
Market
place a ceiling
on how high
new vehicleTrends
sales will go, and we could
approach that ceiling by 2015.
1.
to continue in 2014, which should give a boost to the job market.
• Improving economic growth. Most economists expect GDP growth
Pent up demand
age
to• continue
in 2014, and
whichbenefits
should to
give“upgrade.”
a boost toThe
the average
job market.
•
of vehicles on the road exceeds 10 years. This will continue to
Pent
up demand
and benefits
to “upgrade.
The average
ageneed
of
prompt
many consumers
to purchase
a new”vehicle
based on
vehicles
on
the
road
exceeds
10
years.
This
will
continue
to
prompt
(present vehicles are wearing out) and desire (new vehicles offer
many
consumers
to purchase
a new vehicle
on need (presmany
advantages
over the average
10 yearbased
old vehicle).
ent vehicles are wearing out) and desire (new vehicles offer many
advantages
overthe
themarket
average back
10 year old vehicle).
Forces
holding
• Consumer sentiment. Although consumer attitudes have improved
Forcessomewhat,
holding the
market back
there is still a pervading sense of concern about the
future, a lingering consequence of the 2008 financial crisis, and
• Consumer sentiment. Although consumer attitudes have improved
ensuing economic
recession.
somewhat,
there is still
a pervading sense of concern about the
Hawaii new retail light vehicle registrations increased
14.7% from 2012 to 2013, above the 9% improvement
3 Key Market Trends
in the Nation.
1. Hawaii new retail light vehicle registrations increased
2013,increased
above theto9%
improvement
2. 14.7%
Light from
truck 2012
marketto share
49.2%
in 2013, in
theupNation.
0.8 points from 2012.
2. Light truck market share increased to 49.2% in 2013, up
pointsThree
fromregistrations
2012.
3. 0.8Detroit
were up 21.9% in ‘13, higher
than the 14.7% increase for the industry. State Detroit
3. Detroit
wereU.S.
up (20.3%
21.9%ininHawaii
‘13, higher
Three Three
marketregistrations
share still trailed
vs.
than the 14.7% increase for the industry. State Detroit
40.7% in Nation).
Three market share still trailed U.S. (20.3% in Hawaii vs.
40.7% in Nation).
Manufacturer Market Share - 2013 Annual Total
VW, 2.9%
Mazda, 3.9%
TOTAL
2012
42,506
% Chg.
2013 '12 to '13
48,766
14.7%
Car
Light Truck
21,925
20,581
24,787
23,979
13.1%
16.5%
50.8%
49.2%
Detroit Three
European
Japanese
Korean
8,105
5,129
26,063
3,209
9,880
5,310
30,285
3,291
21.9%
3.5%
16.2%
2.6%
20.3%
10.9%
62.1%
6.7%
Toyota, 28.4%
BMW, 4.2%
GM, 5.2%
Chrysler, 6.3%
Hyundai/Kia, 6.8%
Honda, 16.6%
Ford, 8.5%
Nissan, 10.7%
Brands included: Toyota (Toyota, Lexus, and Scion), Honda (Honda and Acura), Nissan (Nissan and Infiniti), Ford (Ford and Lincoln), Chrysler (Chrysler, Dodge, Fiat, Jeep, and Ram), GM
(Buick, Cadillac, Chevrolet, and GMC), BMW (BMW, Rolls Royce, and MINI), and VW (Audi,
Bentley, and Volkswagen). Source: Polk.
18
Market Summary
Others, 6.5%
Mkt. Share
2013
Detroit Three consists of vehicles sold by GM, Ford, and Chrysler.
Source: Polk.
19
Page 2
Page 2
Page 2
MARKET
MARKETTRACKER:
TRACKER:QUARTERLY
QUARTERLY RESULTS
RESULTS
MARKET TRACKER: QUARTERLY RESULTS
Hawaii Auto Outlook
Hawaii Auto Outlook
Hawaii Auto Outlook
State Market Up
7.6% in
4th Quarter
2013 vs.vs.
4.9% in U.S.
State
State Market
Market Up
Up 7.6%
7.6% in
in 4th
4th Quarter
Quarter 2013
2013 vs. 4.9%
4.9% in
in U.S.
U.S.
QUARTERLY TREND
QUARTERLY TREND
QUARTERLY PERSPECTIVE
QUARTERLY PERSPECTIVE
Percent Change in New Vehicle Market
Percent Change
NewU.S.
Vehicle Market
Stateinand
State and U.S.
%%
change
change
versus
versus
year
year
earlier
earlier
20.0%
20.0%
12000
The Hawaii market increased at
The
Hawaii
market
a faster
pace
than increased
the U.S. in at
athefaster
pace
than
U.S. in
Fourth Quarter the
of 2013.
the Fourth Quarter of 2013.
10000
10000
New
New
retail
retail
light
light
vehicle
vehicle
registrations
registrations
25.0%
25.0%
Five Years of Fourth Quarter Results
Five Years in
of State
FourthMarket
Quarter Results
in State Market
12000
State
State
U.S.
U.S.
15.0%
15.0%
10.0%
10.0%
5.0%
5.0%
0.0%
0.0%
State
State
U.S.
U.S.
The market was up by about 3,700
The
up Quarter
by aboutof3,700
unitsmarket
in the was
Fourth
2013
units
in
the
Fourth
Quarter
of 2013
vs. 2009.
vs. 2009.
8000
8000
6000
6000
4000
4000
2000
2000
Q1 '13
Q1 '13
9.8%
9.8%
8.6%
8.6%
Q2 '13
Q2 '13
16.6%
16.6%
9.0%
9.0%
Data Source: Polk.
Data Source: Polk.
Q3 '13
Q3 '13
24.0%
24.0%
13.3%
13.3%
0
0
Regs.
Regs.
Q4 '13
Q4 '13
7.6%
7.6%
4.9%
4.9%
Q4 '09 Q4 '10 Q4 '11 Q4 '12 Q4 '13
Q4 '09 Q4 '10 Q4 '11 Q4 '12 Q4 '13
7399
7867
8869
10330 11118
7399
7867
8869
10330 11118
Fourth Quarter registrations during past five years
Fourth Quarter registrations during past five years
Data Source: Polk.
Data Source: Polk.
MARKET
TRACKER:
HYBRID
AND
ELECTRIC
VEHICLES
MARKET TRACKER:
TRACKER: HYBRID
HYBRID AND
AND ELECTRIC
ELECTRIC VEHICLES
MARKET
VEHICLES
Hybrid & Electric
Share Declined
in 4th Quarter
of Last Year Last Year
Hybrid
Hybrid &
& Electric
Electric Share
Share Declined
Declined in
in 4th
4th Quarter
Quarter of
of Last Year
Quarterly Alternative Powertrain Market Share
Quarterly
Alternative
Powertrain
Share
(includes
hybrid and
electricMarket
vehicles)
(includes hybrid and electric vehicles)
9.0%
9.0%
8.0%
8.0%
7.0%
7.0%
6.0%
6.0%
5.0%
5.0%
4.0%
4.0%
3.0%
3.0%
2.0%
2.0%
1.0%
1.0%
0.0%
0.0%
20
Trendline
Trendline
Q2
Q2
'10
'10
Q3
Q3
'10
'10
Q4
Q4
'10
'10
Q1
Q1
'11
'11
Q2
Q2
'11
'11
Q3
Q3
'11
'11
Year
Year
2008
2008
2009
2009
2010
2010
2011
2011
2012
2012
2013
2013
Q4
Q4
'11
'11
Q1
Q1
'12
'12
Q2
Q2
'12
'12
Q3
Q3
'12
'12
Q4
Q4
'12
'12
Q1
Q1
'13
'13
Q2
Q2
'13
'13
Q3
Q3
'13
'13
Q4
Q4
'13
'13
State Hybrid and Electric Vehicle
StateNew
Hybrid
andRegistrations
Electric Vehicle
Retail
New 2008
Retailthru
Registrations
2013
2008
thru
2013
Hybrids Electrics
Hybrids
1459 Electrics
15
1459
15
1102
15
1102
15
1025
2
1025
2
1299
338
1299
338
2403
341
2403
341
2550
775
2550
775
Total
Total
1474
1474
1117
1117
1027
1027
1637
1637
2744
2744
3325
3325
New registrations of hybrid and electric vehicles
New
hybrid581
and units
electric
vehicles
were registrations
3,325 units inof 2013,
higher
than
were
3,325
units
in
2013,
581
units
higher
than
in 2012.
in 2012.
Source: Polk.
Source: Polk.
Hawai‘i leads the nation
(tied for number 1)
In Hawai‘i,1.6 percent of total 2013 vehicle registrations were Electric Vehicles!
Top states for EV %
of total auto registrations
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
County
WashingtonState(tied)
Hawaii(tied)
California
Georgia
Oregon
DistrictofColumiba
Utah
Colorado
Tennessee
Illinois
Source: Edmunds.com, a leading online
source for automobile inforomation.
Electric
Vehicles
Level 2
Charging stations
Ports
Level 3
Charging Stations
Oahu
1,427
221
246
4
Maui
291
32
39
1
Hawai‘i
95
29
46
0
Kaua‘i
56
32
37
1
1,869
314
368
6
State of Hawai‘i
Source: State of Hawai‘i, Department of Business Economic Development and Tourism, Energy Office, November 2013.
In 2013, Hawaiian Electric Companies:
• extendedDiscountElectricVehicleChargingRatesforanotheryeartoOctober2014.
• approvednewEVChargeSpotRatesinJuly2013,designedtoencourageplug-inEVownershipinHawai‘i
byeasing“rangeanxiety.”Also,theCommercialPublicElectricVehicleChargingFacilityServiceRate(Schedule
EV-F)willmakeitfinanciallyattractiveforbusinesscustomerstoopennewpublicEVchargingfacilitiesmetered
separatelyfromotheruses.
hawaiianelectric.com
Page 3
Covering Data thru December 2013
Covering Data thru December 2013
LONG TERM TRENDS
LONG
LONGTERM
TERMTRENDS
TRENDS
Hawaii Auto Outlook
Page 3
Page 3
Cyclical
Recovery
Predicted
to Continue
in 2014
Cyclical Recovery
Predicted
to Continue
in 2014 in
Cyclical
Recovery
Predicted
to Continue
2014
Market predicted to increase for fourth consecutive year
Market predicted
toto
increase
for fourth
consecutive
year year
Market
predicted
increase
for fourth
consecutive
The graph below provides a long term perspective of trends in the Hawaii new retail light vehicle market. It shows historical registrations from 2007
The
graph
below
provides
longterm
termforecast
perspective
trends
Hawaii
new
retail
vehicle
market.
It shows
historical
registrations
The
a along
perspective
ofoftrends
in in
thethe
Hawaii
new
retail
lightlight
vehicle
market.
It shows
historical
registrations
fromfrom
2007
thrugraph
2013,below
alongprovides
with Auto
Outlook’s
for 2014.
thru
2013,
along
with
Auto
Outlook’s
forecast
for
2014.
2007 thru 2013, along with Auto Outlook’s forecast for 2014.
NewNew
retail
light
vehicle
registrations
retail
light
vehicle
registrations
State New Retail Light Vehicle Registrations - 2007 thru 2013, 2014 Forecast
State New Retail Light Vehicle Registrations - 2007 thru 2013, 2014 Forecast
60,000
60,000
50,000
50,000
40,000
40,000
30,000
30,000
20,000
20,000
10,000
10,000
0
0
2007
2007
Regs. 54,492
Regs. 54,492
Key
KeyTrends
Trends
Key Trends
Between
2008
2008
41,184
41,184
2009
2009
32,888
32,888
COUNTY SCOREBOARD
COUNTY SCOREBOARD
COUNTY SCOREBOARD
2010
2010
32,668
32,668
2011
2011
35,591
35,591
2012
2012
42,506
42,506
2013
2013
48,766
48,766
2014
Forecast
2014
Forecast
51,500
51,500
2010
(the
low
point
Between 2010 (the low point
during
market(the
and
Between
low point
duringthethe2010
market downturn)
downturn)
and
2013,
state
new
retail
light
vehicle
during
market
2013,the
state
new downturn)
retail lightand
ve2013,
state have
new retail
light ve-by
registrations
increased
hicle registrations
have
increased
hicle
registrations
haveunits
increased
by more
than 16,000
an inmore
than
16,000
units
an
increase
by
more ofthan
16,000
units an increase
about
50%!
of about 50%!
crease of about 50%!
market
up 14.7%
last
TheThe
market
waswas
up 14.7%
last year
The
market
was
upand
14.7%
last
year
versus
2012,
Auto
Outversus 2012, and Auto Outlook is
year
2012,aand
Auto
Outlookversus
is predicting
5.6%
increase
predicting
a 5.6% increase
this year.
look
predicting
a 5.6% increase
this isyear.
this year.
Source: Polk.
Source: Polk.
Years
Years
All County Markets Improved in 2013
All
Markets
Improved
in 2013
All County
County Markets
Improved
in 2013
Oahu market was up 13.1%
Oahu market was up 13.1%
The table
on thewas
rightup
provides
Oahu
market
13.1%a
The
table on
the right
providesfour
a
summary
of each
of Hawaii’s
summary
of
each
of
Hawaii’s
four
retailtable
light onvehicle
markets.
The a
The
the right
provides
retail
light
vehicle
markets.
The
table
is
divided
into
four
sections.
summary of each of Hawaii’s four
table
is divided
intoshows
four sections.
Market
Summary
total new
retail light
vehicleshows
markets.
table
Market
Summary
totalThe
new
retail light vehicle registrations
duris
into 2013
four
sections.
Market
retail
light vehicle
registrations
ingdivided
2012
and
and the durpering
2012
and
2013
and
the
perSummary
shows
total
new
retail
light
cent change. The second and third
cent
change.
The
second
and
third
vehicle
duringand
2012
sectionsregistrations
show Light Truck
De-and
sections
show
TruckThe
andfourth
De- The
troit Three
market
share.
2013
and
theLight
percent
change.
troit
Threeshows
market
share.share
The fourth
section
market
figures
second
and third
sections show
Light
section
shows
market
share
for the top 10 selling light figures
vehicle
Truck
and
Detroit
Three
market
share.
for
the top
10 selling
lighttop
vehicle
brands
in the
state. The
rated
The
fourth
section
shows
market
brands
in
the
state.
The
top
rated
county in each category is shaded.
county
in
each
category
is
shaded.
share
figures
for
the
top
10
Hawaii had the largest increase,selling
up
Hawaii
had
thebrands
largest
increase,
up The
light
vehicle
the state.
22.3%.
Detroit
Three inmarket
share
22.3%.
Detroit
was rated
highest
in Three
Kauaiinmarket
(23.7%)
and
top
county
each share
category
was
highest
in
Kauai
(23.7%)
and
lowest
on
the
Big
Island
(17.4%).
is shaded. Hawaii had the largest
lowest on the Big Island (17.4%).
increase, up 22.3%. Detroit Three
Data Source: Polk.
market
share
Data
Source:
Polk.was highest in Kauai
(23.7%) and lowest on the Big Island
(17.4%).
Data Source: Polk.
22
New Vehicle Markets Summary
New Vehicle Markets Summary
Local Markets
Local
Markets
Hawaii
Kauai
Hawaii
Kauai
Market Summary
Market
Summary
2012 Annual
Total
4,234
1,724
2012
Annual
4,234
1,724
2013 AnnualTotal
Total
5,178
2,062
2013
Annual
Total
5,178
2,062
Percent
change
22.3%
19.6%
Percent
change
22.3%
19.6%
Light Truck
Market Share
Light
Truck
Market
Share
2012 Annual Total
54.8%
65.0%
2012
54.8%
65.0%
2013Annual
AnnualTotal
Total
56.0%
65.3%
2013
Annual
Total
56.0%
65.3%
Change
(share
points)
1.2
0.3
Change
1.2
0.3
Detroit(share
Three points)
Market Share
Detroit
Three Market
2012 Annual
Total Share
17.7%
24.0%
2012
17.7%
24.0%
2013Annual
AnnualTotal
Total
17.4%
23.7%
2013
Annual
Total
17.4%
23.7%
Change
(share
points)
-0.3
-0.3
Change
-0.3
Market(share
Sharepoints)
for Top 10 Selling Brands in State-0.3
- 2013 Annual Total
Market
- 2013 Annual Total
Toyota Share for Top 10 Selling Brands in State30.4%
33.5%
Toyota
30.4%
33.5%
Honda
20.6%
17.1%
Honda
20.6%
17.1%
Nissan
11.3%
11.7%
Nissan
11.3%
11.7%
Ford
6.3%
11.5%
Ford
6.3%
11.5%
Mazda
3.0%
4.9%
Mazda
3.0%
4.9%
Hyundai
3.0%
4.7%
Hyundai
3.0%
4.7%
Chevrolet
2.6%
4.9%
Chevrolet
2.6%
4.9%
BMW
2.1%
0.2%
BMW
2.1%
0.2%
Kia
4.3%
0.1%
Kia
4.3%
0.1%
Lexus
0.6%
0.9%
Lexus
0.6%
0.9%
Maui
Maui
Oahu
Oahu
4,418
4,418
5,197
5,197
17.6%
17.6%
32,130
32,130
36,329
36,329
13.1%
13.1%
55.2%
55.2%
56.3%
56.3%
1.1
1.1
45.8%
45.8%
46.3%
46.3%
0.5
0.5
19.9%
19.9%
21.4%
21.4%
1.5
1.5
18.9%
18.9%
20.3%
20.3%
1.4
1.4
28.1%
28.1%
13.4%
13.4%
14.7%
14.7%
14.0%
14.0%
2.3%
2.3%
2.7%
2.7%
3.7%
3.7%
2.3%
2.3%
2.2%
2.2%
1.8%
1.8%
24.1%
24.1%
13.8%
13.8%
9.2%
9.2%
7.6%
7.6%
4.1%
4.1%
4.0%
4.0%
3.7%
3.7%
3.7%
3.7%
3.1%
3.1%
3.3%
3.3%
JM&A Group will help your dealership achieve
goals you never imagined possible
in sales, service and F&I.
.
Higher Profits. Better Performance. Good Life.
(800) 553-7146
jmagroup.com
A division of
JM Family is a diversified automotive company ranked on the FORTUNE® 100 Best Companies to Work For® list, its sixteenth consecutive year.
© 2014 Jim Moran and Associates, Inc.
23
Page 4
Hawaii Auto Outlook
Page 4
Hawaii Auto Outlook
Hawaii New Retail Car and Light Truck Registrations
Fourth Quarter
Annual Totals
Registrations
Market Share (%)
Registrations
Market Share (%)
4Q '12 4Q '13 % change 4Q '12 4Q '13 Change
2012
2013 % change 2012 2013 Change
10,330 11,118
7.6
42,506 48,766
14.7
TOTAL
Cars
Light Trucks
5,328
5,002
5,587
5,531
4.9
10.6
51.6
48.4
50.3
49.7
-1.3 21,925 24,787
1.3 20,581 23,979
13.1 51.6 50.8
16.5 48.4 49.2
-0.8
0.8
Domestic Brands
European Brands
Japanese Brands
Korean Brands
1,954
1,321
6,345
710
2,205
1,217
6,926
770
12.8
-7.9
9.2
8.5
18.9
12.8
61.4
6.9
19.8
10.9
62.3
6.9
0.9 8,105 9,880
-1.9 5,129 5,310
0.9 26,063 30,285
0.0 3,209 3,291
21.9 19.1 20.3
3.5 12.1 10.9
16.2 61.3 62.1
2.6 7.5 6.7
1.2
-1.2
0.8
-0.8
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
255
99
411
28
39
404
572
91
199
199
83
41
791
92
1,314
473
56
9
237
25
319
20
386
293
132
33
1,117
44
37
149
7
2,693
207
47
216
80
405
18
59
382
668
68
234
268
98
21
937
84
1,599
411
80
6
359
32
321
25
415
268
113
26
1,111
21
36
236
30
2,918
193
48
-15.3
-19.2
-1.5
-35.7
51.3
-5.4
16.8
-25.3
17.6
34.7
18.1
-48.8
18.5
-8.7
21.7
-13.1
42.9
-33.3
51.5
28.0
0.6
25.0
7.5
-8.5
-14.4
-21.2
-0.5
-52.3
-2.7
58.4
2.5
1.0
4.0
0.3
0.4
3.9
5.5
0.9
1.9
1.9
0.8
0.4
7.7
0.9
12.7
4.6
0.5
0.1
2.3
0.2
3.1
0.2
3.7
2.8
1.3
0.3
10.8
0.4
0.4
1.4
0.1
26.1
2.0
0.5
1.9
0.7
3.6
0.2
0.5
3.4
6.0
0.6
2.1
2.4
0.9
0.2
8.4
0.8
14.4
3.7
0.7
0.1
3.2
0.3
2.9
0.2
3.7
2.4
1.0
0.2
10.0
0.2
0.3
2.1
0.3
26.2
1.7
0.4
-0.6
851
957
-0.3
432
407
-0.4 1,196 1,568
-0.1
105
92
0.1
158
264
-0.5 1,833 1,778
0.5 2,339 2,994
-0.3
322
315
0.2
777 1,174
0.5
894 1,089
0.1
346
416
-0.2
164
119
0.7 3,145 4,048
-0.1
442
443
1.7 5,583 7,144
-0.9 1,899 1,830
0.2
310
274
0.0
52
35
0.9 1,310 1,461
0.1
117
132
-0.2 1,237 1,351
0.0
71
86
0.0 1,518 1,879
-0.4 1,081 1,052
-0.3
562
504
-0.1
172
159
-0.8 4,259 4,941
-0.2
267
189
-0.1
143
162
0.7
607 1,063
0.2
7
167
0.1 11,402 12,461
-0.3 1,024 1,029
-0.1
220
177
12.5 2.0 2.0
0.0
-5.8 1.0 0.8
-0.2
31.1 2.8 3.2
0.4
-12.4 0.2 0.2
0.0
67.1 0.4 0.5
0.1
-3.0 4.3 3.6
-0.7
28.0 5.5 6.1
0.6
-2.2 0.8 0.6
-0.2
51.1 1.8 2.4
0.6
21.8 2.1 2.2
0.1
20.2 0.8 0.9
0.1
-27.4 0.4 0.2
-0.2
28.7 7.4 8.3
0.9
0.2 1.0 0.9
-0.1
28.0 13.1 14.6
1.5
-3.6 4.5 3.8
-0.7
-11.6 0.7 0.6
-0.1
-32.7 0.1 0.1
0.0
11.5 3.1 3.0
-0.1
12.8 0.3 0.3
0.0
9.2 2.9 2.8
-0.1
21.1 0.2 0.2
0.0
0.3
23.8 3.6 3.9
-2.7 2.5 2.2
-0.3
-10.3 1.3 1.0
-0.3
-7.6 0.4 0.3
-0.1
16.0 10.0 10.1
0.1
-29.2 0.6 0.4
-0.2
13.3 0.3 0.3
0.0
75.1 1.4 2.2
0.8
0.0 0.3
0.3
9.3 26.8 25.6
-1.2
0.5 2.4 2.1
-0.3
-19.5 0.5 0.4
-0.1
Source: Polk
8.4
-6.8
2.1
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