Pittsburgh Auto Outlook

Covering Second Quarter 2012 Volume 21, Number 3 Pittsburgh Auto Outlook Sponsored by: Greater Pittsburgh Automobile Dealers Association FORECAST Area Market Gains Strength in Second Quarter Increases likely to continue into 2013 On balance, the Pittsburgh Area new retail light vehicle market had a pretty good first half of 2012, with area registrations increasing 5.1% versus a year earlier. And the positive momentum is likely to continue for the second half of the year as well, with the market almost certain to move higher versus 2011, when sales were held back due to the Japanese earthquake and tsunami. What s lies ahead for 2013? Another increase is likely, but at this point, it looks like the rate of increase is likely to ease. Auto Outlook is currently projecting a 6.1% improvement for 2013, below the 7.9% increase expected for this year. Why do we think the pace of the recovery will ease somewhat next year? Here are the three primary reasons. First, economic growth is expected to remain sluggish, as likely fiscal tightening by the Federal government will limit growth, and the European financial crisis is likely to put a damper on the global economy. Second, the unemployment rate is expected to remain relatively high, with slim gains in employment. And third, although households have made headway in reducing debt, there is still a lot of work to do in curing ailing balance sheets, which are still on the mend following the financial crisis. At this point, it seems highly unlikely that these events will derail the new vehicle market recovery. Indeed, our basic outlook has remained intact since the recession hit in 2008 and 2009: the market will remain on its long term improvement path, but the recovery will take longer and proceed much more slowly than the 2009 collapse, which hit hard and fast. New light vehicle registrations 160,000 140,000 120,000 100,000 80,000 60,000 40,000 Annual Trend in Area Market 117,721 104,235 112,431 127,936 138,000 Market is predicted to improve 7.9% in 2012. 2008 2009 2010 2011 2012 Forecast 146,500 2013 Forecast The graph above shows annual new retail light vehicle registrations in the area from 2008 thru 2011, and Auto Outlook s projections for 2012 and 2013. 5 Key Market Trends 1. Greater Pittsburgh area new retail light vehicle registrations increased 5.1% in the first half of 2012 versus a year earlier, below the 9.9% improvement in the Nation. 2. Auto Outlook projects that the area new vehicle market will improve 7.9% for all of this year, with an increase likely in 2013 as well. The uptick next year would mark the fourth consecutive annual increase. 3. Higher fuel prices earlier this year and many key new vehicle introductions have given a boost to car sales in the area. New retail car registrations were up 6.6% in the first half of 12 and market share increased. 4. Among the top 25 selling brands, Chrysler, Jeep, Toyota, Dodge (including Ram), and BMW have had the largest increases so far this year. Area registrations for each of the five brands were up more than 15%. 5. Chevrolet, Subaru, Jeep, and Kia are relatively strong sellers in the area market. Vehicle registrations for the four brands easily exceed expected levels, which are calculated from National market share (see page 7 for full analysis). Market Summary YTD '11 YTD '12 % Chg. Mkt. Share thru June thru June '11 to '12 YTD '12 TOTAL 65,105 68,425 5.1% 0.0% Car 31,180 33,240 6.6% 48.6% Light Truck 33,925 35,185 3.7% 51.4% Detroit Three 29,785 31,270 5.0% 45.7% European 4,190 4,773 13.9% 7.0% Japanese 22,230 23,463 5.5% 34.3% Korean 8,900 8,919 0.2% 13.0% Detroit Three consists of vehicles sold by GM, Ford and Chrysler. Data Source: AutoCount data from Experian Automotive.

Page 2 Greater Pittsburgh Auto Outlook MARKET TRACKER: QUARTERLY RESULTS Area Market Up 8.8% in 2nd Quarter vs. 13.7% Increase in U.S. QUARTERLY TREND QUARTERLY PERSPECTIVE Percent Change in New Vehicle Market Area and U.S. Five Years of Second Quarter Results in Area Market 50000 % change versus year earlier 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% Area U.S. On a percentage change basis, the area market trailed the U.S. in the Second Quarter. New retail light vehicle registrations 45000 40000 35000 30000 25000 20000 15000 10000 The market was up by over 9,000 units in the Second Quarter of this year versus 2009. 2.0% 5000 0.0% '11 Q4 '11 '12 Q2 '12 Area 1.6% 14.1% 1.0% 8.8% U.S. 3.7% 8.0% 5.8% 13.7% 0 Q2 '08 Q2 '09 Q2 '10 Q2 '11 Q2 '12 Regs. 33006 27508 31266 33874 36869 Second quarter registrations during past five years Pittsburgh Auto Outlook Covering Second Quarter 2012 Published by: Auto Outlook, Inc. 5 Great Valley Parkway Malvern, PA 19355 Phone: 800-206-0102 EMail: jfoltz@autooutlook.com Editor: Jeffrey A. Foltz Reproduction, including photocopying of this publication in whole or in part, is prohibited without the express permission of Auto Outlook, Inc. Any material quoted must be attributed to Pittsburgh Auto Outlook, published by Auto Outlook, Inc. on behalf of the Greater Pittsburgh Automobile Dealers Association. Unforeseen events may affect the forecast projections presented in Pittsburgh Auto Outlook. Consequently, Auto Outlook, Inc. is not responsible for management decisions based on the content of Pittsburgh Auto Outlook. ANSWERS DRIVE RESULTS. You need insights into your marketplace to make the best decisions to maximize profits. The AutoCount Dealer Report analyzes full details on new and used competitive dealer market share, down to specific areas you define. You bring the questions. We ll bring the answers. Experian Automotive is the data provider for Auto Outlook. Explanation of Data Data presented in Auto Outlook measures new vehicle registrations in the Pittsburgh Area. Monthly recording of registrations occurs when the data is processed by PennDOT.

Covering Second Quarter 2012 Page 3 MARKET TRACKER: BRAND MARKET SHARE European Brands Are Up MARKET TRACKER: HYBRID AND ELECTRIC VEHICLES Green Vehicle Share Holds Steady Change in Area Market Share YTD 2012 thru June vs. YTD 2011 Quarterly Alternative Powertrain Market Share (includes hybrid and electric vehicles) European Japanese Detroit Three Korean -0.7 European share is up 0.6 of a point so far this year. 0.0 0.2 0.6-1.0-0.5 0.0 0.5 1.0 Change in market share 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 '09 Q4 '09 '10 Alternative powertrain market share has trended higher during the past three years. Q2 '10 '10 Trendline Q4 '10 '11 Q2 '11 '11 Q4 '11 '12 Q2 '12 The graph above shows the change in year-to-date market share for four primary brand segments. The graph above shows hybrid powertrain and electric vehicle quarterly market share in the area. The line shows market share trend over the past 12 quarters. MARKET TRACKER - SEGMENTS Small Car Shares Moves Higher in Area and U.S. Change in Segment Market Share YTD 2012 thru June vs. YTD 2011 thru June Pittsburgh Area and U.S. Markets Typical models in segments: Small Car: Hyundai Elantra Mid Size & Large Car: Toyota Camry Luxury & Sports Car: BMW 3-Series Pickup: Ford F-Series Van: Honda Odyssey Compact SUV: Jeep Liberty Mid Size SUV: Jeep Grand Cherokee Full Size SUV: Chevrolet Tahoe Luxury SUV: Lexus RX Small Car Pickup Compact SUV Luxury and Sports Car Van Mid Size and Large Car Luxury SUV Full Size SUV Mid Size SUV Small Car market share increased in both the area and U.S. markets. Area US -0.8-0.6-0.4-0.2 0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4 Change in market share

Page 4 Greater Pittsburgh Auto Outlook Brand Registrations Report Greater Pittsburgh Area New Retail Car and Light Truck Registrations Second Quarter YTD thru June Registrations Market Share (%) Registrations Market Share (%) 2Q 2011 2Q 2012 % change 2Q 2011 2Q 2012 Change YTD '11 YTD '12 % change YTD '11 YTD '12 Change TOTAL 33,874 36,869 8.8 65,105 68,425 5.1 Cars 16,934 18,681 10.3 50.0 50.7 0.7 31,180 33,240 6.6 47.9 48.6 0.7 Light Trucks 16,940 18,188 7.4 50.0 49.3-0.7 33,925 35,185 3.7 52.1 51.4-0.7 Domestic Brands 15,251 16,284 6.8 45.0 44.2-0.8 29,785 31,270 5.0 45.7 45.7 0.0 European Brands 2,334 2,684 15.0 6.9 7.3 0.4 4,190 4,773 13.9 6.4 7.0 0.6 Japanese Brands 11,372 12,859 13.1 33.6 34.9 1.3 22,230 23,463 5.5 34.1 34.3 0.2 Korean Brands 4,917 5,042 2.5 14.5 13.7-0.8 8,900 8,919 0.2 13.7 13.0-0.7 Acura 347 354 2.0 1.0 1.0 0.0 638 583-8.6 1.0 0.9-0.1 Audi 202 217 7.4 0.6 0.6 0.0 371 414 11.6 0.6 0.6 0.0 BMW 420 492 17.1 1.2 1.3 0.1 782 903 15.5 1.2 1.3 0.1 Buick 571 587 2.8 1.7 1.6-0.1 1,111 1,050-5.5 1.7 1.5-0.2 Cadillac 467 414-11.3 1.4 1.1-0.3 1,031 883-14.4 1.6 1.3-0.3 Chevrolet 4,747 4,852 2.2 14.0 13.2-0.8 9,705 9,390-3.2 14.9 13.7-1.2 Chrysler 510 790 54.9 1.5 2.1 0.6 909 1,372 50.9 1.4 2.0 0.6 Dodge (incl. Ram) 1,494 1,831 22.6 4.4 5.0 0.6 2,891 3,458 19.6 4.4 5.1 0.7 Fiat 1 142 0.0 0.4 0.4 1 239 0.0 0.3 0.3 Ford 4,497 4,397-2.2 13.3 11.9-1.4 8,298 8,526 2.7 12.7 12.5-0.2 GMC 1,152 1,139-1.1 3.4 3.1-0.3 2,438 2,307-5.4 3.7 3.4-0.3 Honda 3,134 3,655 16.6 9.3 9.9 0.6 6,150 6,299 2.4 9.4 9.2-0.2 Hyundai 2,543 2,626 3.3 7.5 7.1-0.4 4,588 4,529-1.3 7.0 6.6-0.4 Infiniti 132 202 53.0 0.4 0.5 0.1 277 323 16.6 0.4 0.5 0.1 Jaguar 19 25 31.6 0.1 0.1 0.0 31 31 0.0 0.0 0.0 0.0 Jeep 1,549 2,023 30.6 4.6 5.5 0.9 2,828 3,824 35.2 4.3 5.6 1.3 Kia 2,374 2,416 1.8 7.0 6.6-0.4 4,312 4,390 1.8 6.6 6.4-0.2 Land Rover 77 89 15.6 0.2 0.2 0.0 144 164 13.9 0.2 0.2 0.0 Lexus 279 281 0.7 0.8 0.8 0.0 529 542 2.5 0.8 0.8 0.0 Lincoln 257 246-4.3 0.8 0.7-0.1 516 455-11.8 0.8 0.7-0.1 Mazda 642 643 0.2 1.9 1.7-0.2 1,080 1,150 6.5 1.7 1.7 0.0 Mercedes 434 437 0.7 1.3 1.2-0.1 842 815-3.2 1.3 1.2-0.1 MINI 106 115 8.5 0.3 0.3 0.0 174 196 12.6 0.3 0.3 0.0 Mitsubishi 208 158-24.0 0.6 0.4-0.2 399 327-18.0 0.6 0.5-0.1 Nissan 2,084 1,896-9.0 6.2 5.1-1.1 4,318 3,914-9.4 6.6 5.7-0.9 Porsche 50 64 28.0 0.1 0.2 0.1 91 100 9.9 0.1 0.1 0.0 Saab 19 5-73.7 0.1 0.0-0.1 51 8-84.3 0.1 0.0-0.1 smart 11 19 72.7 0.0 0.1 0.1 16 29 81.3 0.0 0.0 0.0 Subaru 1,759 1,837 4.4 5.2 5.0-0.2 3,235 3,519 8.8 5.0 5.1 0.1 Suzuki 327 387 18.3 1.0 1.0 0.0 672 703 4.6 1.0 1.0 0.0 Toyota/Scion 2,460 3,446 40.1 7.3 9.3 2.0 4,932 6,102 23.7 7.6 8.9 1.3 Volkswagen 826 902 9.2 2.4 2.4 0.0 1,362 1,544 13.4 2.1 2.3 0.2 Volvo 152 151-0.7 0.4 0.4 0.0 293 284-3.1 0.5 0.4-0.1 Other 24 31 29.2 0.1 0.1 0.0 90 52-42.2 0.1 0.1 0.0 Source: AutoCount data from Experian Automotive The table above shows new retail light vehicle (car and light truck) registrations in the Greater Pittsburgh Area market. Figures are shown for the Second Quarters of 2011 and 2012, and year-to-date figures for 2011 and 2012. The top ten ranked brands in each category are shaded yellow.

Covering Second Quarter 2012 Page 5 BRAND SCOREBOARD - PART ONE Chrysler Posts Largest Gain So Far This Year vs. 2011 Toyota new retail registrations improve 29.7% from First to Second Quarter of this year The graph below provides a quick snapshot of brand sales performance in the area market. For the top 20 selling brands, it shows the percent change in new retail light vehicle registrations during the first six months of this year versus the same period a year earlier, and the change from the First Quarter of 2012 to the Second Quarter. Brands are shown from top to bottom based on the year-to-date percent change. Source: AutoCount data from Experian Automotive. Percent Change in Area New Retail Light Vehicle Registrations (Top 20 Selling Brands) YTD 2012 thru June vs. YTD 2011 and Second Quarter 2012 vs. First Quarter 2012 Chrysler 35.7% 50.9% Jeep 12.3% 35.2% Toyota/Scion 23.7% 29.7% Dodge 12.5% 19.6% BMW Volkswagen 15.5% 19.7% 13.4% 40.5% Subaru 8.8% 9.2% Mazda 6.5% 26.8% Suzuki Ford Honda 4.6% 2.7% 6.5% 2.4% 22.5% Chrysler had the largest gain during the first half of 2012. Improving supplies helped Toyota post a 29.7% gain from the First to the Second Quarter of this year. 38.2% Kia 1.8% 22.4% Hyundai -1.3% 38.0% Mercedes Chevrolet -3.2% -3.2% 6.9% 15.6% YTD '12 vs. YTD '11 2Q '12 vs. 1Q '12 GMC -5.4% -2.5% Buick -5.5% 26.8% Acura Nissan Cadillac -8.6% -9.4% -6.0% -14.4% -11.7% 54.6% -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0%

Page 6 Greater Pittsburgh Auto Outlook BRAND SCOREBOARD - PART TWO Chevrolet is Area Car Market Share Leader Ford leads for light trucks; Jeep market share moves higher The two graphs below show market share for the top ten car and light truck brands for the first six months of 2011 and 2012. Brands are shown from left to right on each graph based on first half 2012 market share. Source: AutoCount data from Experian Automotive. 18.0% Brand Market Share in Area Car Market - YTD 2011 and YTD 2012, thru June Top Ten Brands only 16.0% 14.0% 12.0% Chevrolet is the best selling brand in the area car market. Toyota, Kia, and Subaru have posted big gains this year. YTD '11 YTD '12 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Chevrolet Hyundai Honda Toyota/Scion Subaru Ford Kia Nissan Volkswagen Dodge YTD '11 16.1% 11.5% 10.1% 6.9% 7.3% 9.0% 6.4% 6.5% 3.7% 2.2% YTD '12 14.7% 10.7% 8.9% 8.6% 8.3% 8.2% 7.7% 5.1% 4.1% 2.8% 18.0% Brand Market Share in Area Light Truck Market - YTD 2011 and YTD 2012, thru June Top Ten Brands only 16.0% 14.0% 12.0% Ford is the area light truck leader, while Jeep, Toyota, and Dodge (including Ram) market shares have moved higher in 2012. YTD '11 YTD '12 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Ford Chevrolet Jeep Honda Toyota/Scion Dodge GMC Nissan Kia Hyundai YTD '11 15.3% 13.9% 8.4% 9.0% 8.3% 6.6% 7.1% 6.9% 6.9% 3.1% YTD '12 15.8% 12.9% 11.0% 9.6% 9.4% 7.3% 6.5% 6.4% 5.3% 2.8%

Covering Second Quarter 2012 Page 7 BRAND SCOREBOARD - PART THREE Chevrolet and Subaru Relatively Strong Performers in Area Jeep and Kia also rank high The graph below provides an indicator of brands that are popular in the Pittsburgh Area (relative to the National standard), and those that are not. Here s how it works: For the top 30 selling brands in the area, each brand s share of the U.S. market is multiplied by retail registrations in the area during the first six months of 2012. This yields a target for the area market. Target registrations are subtracted from actual registrations to derive the measurement of sales performance. Brands at the top of the graph (i.e., Chevrolet, Subaru, Jeep, and Kia) are relatively strong sellers in the area, with actual registrations exceeding the calculated target by a large margin. For instance, Chevrolet registrations exceeded the target by 1,866 units. Source for registration data: AutoCount data from Experian Automotive. Greater Pittsburgh Area Retail Market Performance based on registrations for YTD 2012 thru June Actual registrations minus target (area industry registrations times U.S. market share) Chevrolet Subaru Jeep Kia Hyundai Suzuki Dodge GMC Buick Cadillac Chrysler Fiat Mitsubishi Lincoln Volvo Porsche Land Rover Mazda MINI Acura Infiniti Audi BMW Ford Volkswagen Mercedes Lexus Nissan Honda Toyota/Scion -3095 Chevrolet, Subaru, Jeep, and Kia are strong sellers in the area, with actual registrations exceeding target by a large margin. -963-680 -692-772 -477-509 -511-256 -329-110 -174-208 -4,000-3,000-2,000-1,000 0 1,000 2,000 3,000-45 -67-68 39 19 19 176 170 161 410 375 565 825 1454 1358 1622 1866 Actual registrations minus target (area industry registrations times U.S. market share)

Page 8 Greater Pittsburgh Auto Outlook FORECAST DETERMINANTS Three Primary Factors Impacting New Vehicle Sales Most indicators point to continued improvement in area new vehicle market #1 Consumer Affordability Affordability for new vehicles is at close to record strong levels Impact on new vehicle sales: POSITIVE Consumer affordability for new vehicles remained at historically strong levels in the First Quarter of 2012, the latest reading. The purchase and financing of an average priced new vehicle took 23.2 weeks of household in the First Quarter of 12, down from a year earlier. Source: Comerica Bank. Weeks of income needed to buy a new vehicle 28 27 26 25 24 23 22 21 20 Comerica Bank Auto Affordability Index 05 Q4 05 06 Q2 06 06 Q4 06 07 Q2 07 07 Q4 07 08 Q2 08 08 Q4 08 09 Q2 09 09 Q4 09 10 Q2 10 10 Q4 10 11 Q2 11 11 Q4 11 12 Quarters #2 Consumer Debt The consumer debt burden is easing from the highs reached in 2006 Impact on new vehicle sales: MOSTLY POSITIVE Due primarily to the write off of bad loans, the consumer debt burden is easing. Although households still have some work to do in fixing their ailing balance sheets, shrinking debt is definitely good news for retail spending and new vehicle sales. Source: Federal Reserve. Ratio of debt service to disposable personal income Ratio of Debt Service to Disposable Personal Income 15.0 14.0 13.0 12.0 11.0 10.0 9.0 8.0 06 07 07 08 08 09 09 Quarters 10 10 11 11 12 #3 Pent Up Demand Although improving, sales have remained below trend line levels for several years, resulting in significant pent up demand Impact on new vehicle sales: POSITIVE Accumulated pent up demand resulting from depressed sales between 2009 and 2011 is a powerful force that will almost certainly push new vehicle sales higher. Source for sales data: CNW Marketing Research. U.S. new vehicle sales (millions of units) 18.0 16.0 14.0 12.0 10.0 8.0 6.0 U.S. New Vehicle Sales Trend Line Actual Sales 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 Years

Covering Second Quarter 2012 Page 9 MODEL RANKINGS Subaru Legacy is on Top of Standard Mid Size Car Segment Kia Sorento is best-selling Mid Size SUV The table below shows the top five selling models during the first six months of 2012 in 16 primary market segments. In addition to unit registrations, it also shows each model s market share in its respective segment. Subaru Legacy held the top spot as the bestselling Standard Mid Size Car, with a 15% share. Chevrolet Cruze was first among Sub Compact Cars, followed by Hyundai Elantra and Honda Civic. Cadillac CTS was the best seller among Near Luxury Cars. Dodge Caravan and Honda CRV were the best selling Mini Van and Compact SUV, respectively. Ford Explorer was first among Full Size SUVs (including Crossovers). Cadillac SRX was the best-selling Luxury SUV. Source: AutoCount data from Experian Automotive. Top Selling Models in Each Segment - Greater Pittsburgh Area New Retail Registrations - YTD 2012 thru June Cars Entry Sub Compact Sporty Compact Standard Mid Size Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Chevrolet Sonic 924 23.5 Chevrolet Cruze 1783 15.2 Chevrolet Camaro 294 26.3 Subaru Legacy 1633 15.0 Kia Soul 864 22.0 Hyundai Elantra 1457 12.4 Hyundai Veloster 282 25.2 Chevrolet Malibu 1369 12.6 Hyundai Accent 516 13.1 Honda Civic 1423 12.1 Ford Mustang 252 22.6 Hyundai Sonata 1182 10.9 Nissan Versa 275 7.0 Subaru Impreza 1078 9.2 Dodge Challenger 157 14.1 Honda Accord 1147 10.5 Ford Fiesta 271 6.9 Ford Focus 1060 9.0 Scion tc 111 9.9 Toyota Camry 981 9.0 Large Mid Size Near Luxury Luxury Sports Car Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Buick LaCrosse 379 22.4 Cadillac CTS 475 19.8 BMW 5-Series 168 19.3 Chevrolet Corvette 52 31.1 Chevrolet Impala 363 21.5 BMW 3-Series 430 17.9 Mercedes E-Class 161 18.5 Mazda MX5 39 23.4 Ford Taurus 229 13.6 Mercedes C-Class 273 11.4 Lincoln MKS 68 7.8 Porsche 911 29 17.4 Dodge Charger 226 13.4 Lincoln MKZ 230 9.6 Lexus GS 66 7.6 Nissan 370Z 17 10.2 Nissan Maxima 191 11.3 Infiniti G 176 7.3 Audi A5 55 6.3 BMW Z4 11 6.6 Light Trucks Compact Pickup Full Size Pickup Mini Van Full Size Van Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Toyota Tacoma 590 31.6 Ford F-Series 2530 34.5 Dodge Caravan 495 25.2 Ford E-Series 202 39.5 Ford Ranger 520 27.8 Chevrolet Silverado 1976 26.9 Chrysler T & C 440 22.4 Chevrolet Express 128 25.0 Nissan Frontier 334 17.9 Dodge Ram 1340 18.3 Honda Odyssey 423 21.5 Ford Transit Connect 79 15.5 Chevrolet Colorado 201 10.8 GMC Sierra 961 13.1 Toyota Sienna 328 16.7 GMC Savana 63 12.3 Honda Ridgeline 115 6.2 Toyota Tundra 300 4.1 Kia Sedona 137 7.0 Nissan NV 22 4.3 Compact SUV Mid Size/Crossover SUV Full Size SUV Luxury SUV Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Honda CRV 2090 17.1 Kia Sorento 1201 18.6 Ford Explorer 497 22.4 Cadillac SRX 306 14.1 Chevrolet Equinox 1392 11.4 Jeep Grand Cherokee 1118 17.4 Chevrolet Traverse 387 17.4 Lexus RX 235 10.8 Ford Escape 1254 10.3 Subaru Forester 763 11.8 GMC Acadia 383 17.3 Acura MDX 209 9.6 Toyota RAV4 1161 9.5 Honda Pilot 689 10.7 Buick Enclave 198 8.9 BMW X3 137 6.3 Nissan Rogue 987 8.1 Hyundai Santa Fe 597 9.3 Chevrolet Tahoe 160 7.2 Mercedes ML-Class 127 5.8

Page 10 Greater Pittsburgh Auto Outlook SEGMENT CLOSE-UP: SMALL CARS Chevrolet Leads in Area Small Car Market Cruze is best-seller in segment, followed by Elantra and Civic Brand Results - Two Year Perspective % change in area new retail small car registrations for top 15 selling brands YTD 12 thru June vs, YTD 2010 (sorted by YTD 12) Model Sales Leaders Top 10 selling small cars in area new retail market YTD 2012 thru June Make New registrations YTD 10 thru June New registrations YTD 12 thru June % change YTD 12 vs. YTD 10 Chevrolet 1650 2747 66% Hyundai 1472 1973 34% Honda 1543 1759 14% Kia 1017 1615 59% Toyota 1099 1486 35% Ford 841 1331 58% Subaru 654 1078 65% Volkswagen 627 926 48% Nissan 807 693-14% Mazda 614 617 0% Suzuki 428 335-22% Buick 0 254 Fiat 0 239 Mini 121 194 60% Dodge 138 156 13% Others 32% Volkswagen Jetta 4% Toyota Prius 4% Toyota Corolla/ Matrix 5% Kia Soul 6% Chevrolet Cruze 11% Ford Focus 7% Chevrolet Sonic 6% Hyundai Elantra 9% Honda Civic 9% Subaru Impreza 7% Brand Sales Performance - Area market vs. U.S. Brand market share in Pittsburgh Area and U.S. YTD 2012 thru June Shown from left to right based on area share Market Share (%) 20.0% 18.0% 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% Chevrolet Hyundai Honda Kia Toyota Ford Subaru Volkswagen Nissan Mazda Area 17.5% 12.6% 11.2% 10.3% 9.5% 8.5% 6.9% 5.9% 4.4% 3.9% U.S. 10.2% 9.2% 14.0% 8.8% 17.9% 9.3% 3.7% 7.7% 6.9% 4.2% Note: Small cars includes vehicles in the Entry and Sub Compact segments.

Covering Second Quarter 2012 Page 11 COUNTY SCOREBOARD Four County Markets Up More than 10% in First Half of 12 Allegheny County up slightly The tables on this page provide a thorough summary of each of the Pittsburgh Area s 11 county new retail light vehicle markets. The unique county-level information provides a valuable perspective on local market performance, and a barometer to evaluate the performance of your dealership. Part 1 below shows registration data and light truck market share during the first six months of 2011 and 2012. Part 2 presents data for Domestic brands, and the top 10 selling car and light truck brands in the Pittsburgh Area. The top three ranked counties in each category are shaded. Source: AutoCount data from Experian Automotive. COUNTY BY COUNTY - PART 1 YTD thru June Percent Change Unit Change Light Truck Market Share (%) 2011 2012 YTD 2011 to YTD 2012 YTD 2011 to YTD 2012 YTD 2011 YTD 2012 Change '11 to '12 Allegheny 29,540 29,807 0.9% 267 47.9 47.3-0.6 Armstrong 1,543 1,639 6.2% 96 61.6 58.1-3.5 Beaver 3,659 3,755 2.6% 96 51.8 50.4-1.4 Butler 4,992 5,163 3.4% 171 57.5 57.7 0.2 Cambria 2,510 2,798 11.5% 288 59.0 55.7-3.3 Fayette 3,196 3,686 15.3% 490 53.6 52.7-0.9 Greene 919 1,137 23.7% 218 64.2 63.9-0.3 Indiana 1,406 1,703 21.1% 297 60.3 61.0 0.7 Lawrence 1,762 1,886 7.0% 124 53.8 54.2 0.4 Washington 5,845 6,194 6.0% 349 56.7 55.9-0.8 Westmoreland 9,733 10,657 9.5% 924 53.2 51.6-1.6 COUNTY BY COUNTY - PART 2 Market Share Summary-YTD 2012 thru June Domestic Brands Top Ten Selling Brands in Area-YTD '12 thru June YTD 2011 YTD 2012 Change '11 to '12 Chevrolet Ford Honda Toyota/ Scion Hyundai Kia Nissan Jeep Subaru Dodge Allegheny 39.2 39.1-0.1 11.3 10.0 9.8 9.3 7.1 7.0 6.3 5.4 6.0 4.1 Armstrong 61.6 60.1-1.5 18.6 18.7 6.2 8.4 4.0 5.2 3.1 5.5 4.9 4.8 Beaver 49.6 50.1 0.5 18.4 11.9 6.6 6.9 8.5 5.0 10.7 6.0 4.0 5.2 Butler 49.4 49.0-0.4 12.6 13.4 11.8 8.8 5.3 4.1 4.7 6.9 4.7 5.3 Cambria 54.2 51.0-3.2 12.7 16.7 8.3 10.3 4.8 5.6 5.8 5.1 5.2 6.3 Fayette 54.2 55.0 0.8 18.5 16.8 8.2 7.8 7.9 6.3 4.0 5.6 3.2 6.0 Greene 60.6 64.6 4.0 17.3 16.4 8.2 4.2 3.9 3.3 2.9 8.7 7.1 14.8 Indiana 52.8 50.9-1.9 16.6 15.2 7.9 9.6 5.0 4.9 9.2 5.0 4.5 5.4 Lawrence 56.2 54.2-2.0 17.9 13.0 10.5 16.2 5.4 2.0 5.0 4.6 1.6 5.6 Washington 46.9 49.6 2.7 15.0 13.5 10.4 6.7 5.3 6.7 5.2 6.0 4.3 6.0 Westmoreland 49.7 47.5-2.2 14.9 14.0 7.5 9.2 7.2 8.0 4.0 5.2 5.1 5.1 Percent Change in New Retail Light Vehicle Registrations - YTD 2012 thru June vs. YTD 2011 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% Greene Indiana Fayette Cambria Westm. Lawrence Armstrong Wash. Butler Beaver Allegheny

Page 12 PITTSBURGH AREA MARKET VERSUS U.S. Area Market Up 5.1% So Far This Year U.S. market improved 9.9% in first half of 2012 vs. year earlier Greater Pittsburgh Auto Outlook Change in registrations % change in registrations YTD 2012 thru June vs. YTD 2011 Car Market Share Car share of industry retail light vehicle registrations - YTD 2012 thru June 0 0 Area Market U.S. Market 5.1% 9.9% 48.6% 51.4% Domestic Brand Market Share Domestic brand share of industry retail light vehicle 45.7% 40.3% registrations - YTD 2012 thru June 0 Top Selling Retail Brands Top selling light vehicle brands and market share - YTD '12 thru June First Chevrolet 13.7% Toyota/Scion 13.4% Second Ford 12.5% Ford 13.2% Third Honda 9.2% Chevrolet 11.0% Fourth Toyota/Scion 8.9% Honda 10.6% Fifth Hyundai 6.6% Nissan 6.8% Sixth Kia 6.4% Hyundai 5.4% Seventh Nissan 5.7% Dodge 4.5% Eighth Jeep 5.6% Kia 4.4% Ninth Dodge (incl. Ram) 5.1% Jeep 3.5% Tenth Subaru 5.1% Volkswagen 3.0% Greater Pittsburgh Auto Outlook Distributed as a Special Report to Members by the Greater Pittsburgh Automobile Dealers Association EXECUTIVE COMMITTEE CAMERON JONES, President Northland Ford, Zelienople DENNIS BAGLIER, Vice President Baglier Buick GMC Mazda, Butler JEFF SMAIL, Secretary Smail Auto Group, Greensburg PAUL SCHIMIZZI, Treasurer Hillview Motors, Grennsburg MARK SMAIL, Past President Smail Auto Group, Greensburg GREATER PITTSBURGH AUTOMOBILE DEALERS ASSOCIATION 2012-2013 BOARD OF DIRECTORS DIRECTORS MARK BAER Budd Baer Inc., Washington DAN BIONDI Biondi Motor Company, Monroeville RON DAKAN North Star Chevrolet, Moon Township DEBBIE FLAHERTY Day Automotive, Monroeville CATHERINE GLASGOW Butler County Ford, Butler TOM LaFRANKIE Benson Lincoln, Pittsburgh MIKE McWILLIAMS Pittsburgh East Nissan, Pittsburgh TOM ROHRICH Rohrich Cadillac, Pittsburgh CLARENCE B. SMAIL - NADA Director Smail Auto Group, Greensburg