Official Publication of the California New Car Dealers Association Maintaining a Strong Foundation PAGE 6 CNCDA at NADA 2026 PAGE 17 Navigating the Fast Lane Understanding California’s Advertising Laws PAGE 12 2026 ISSUE 1
BUSINESS LAW | LITIGATION | ESTATE PLANNING | REAL ESTATE | TAX | EMPLOYMENT PRACTICES FERRUZZO & FERRUZZO, LLP | A Limited Liability Partnership, including Professional Corporations FERRUZZO.COM | CALIFORNIA | TEXAS Business Transactions • Buy-Sell Agreements • Entity formation and structure • Shareholder Agreements • Manufacturer approvals and relations Employment Practices • Arbitration agreements • Wage and hour class action lawsuits • Private Attorneys General Act (PAGA) claims • Employee handbooks and compliance Estate Planning • Succession planning for business continuation • Family estate planning (wills and trusts) Tax • Property tax planning, audits and appeals • EDD audits Business Litigation • Consumer Legal Remedies Act lawsuits • Sales and Service Agreements • Disputes before the CA New Motor Vehicle Board • Manufacturer audit disputes • Hearings before the AQMD, RWQC and OSHA Real Estate • Dealership site acquisitions and lease agreements • Lender opinion letters An Automotive Industry Authority For over 40 years, Ferruzzo & Ferruzzo, LLP has been a leading authority in the Automotive Industry. Our team of auto-focused attorneys provide a spectrum of legal services to support every aspect of running and owning your new car and/or truck dealership. Solving Your Challenges, Together
Anticipate every turn In an industry that’s always evolving, your dealership can rely on our Dealer Financial Services team’s 90 years of experience to see what’s around the corner, forward-thinking insights to prepare you, and technology to keep you ahead of the curve. What would you like the power to do?® James Diedrich, james.a.diedrich@bofa.com Eugene Gonzalez, eugene.gonzalez2@bofa.com Steve Hood, steve.hood@bofa.com Liane Low-Bevett, liane.low-bevett@bofa.com Crystal Moreno, crystal.e.moreno@bofa.com business.bofa.com/dealer ©2026 Bank of America Corporation. All rights reserved. 6942528 01-26-2489 Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, derivatives, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc., which is a registered broker-dealer and Member of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. is a registered futures commission merchant with the CFTC and a member of the NFA. Anticipate every turn In an industry that’s always evolving, your dealership can rely on our Dealer Financial Services team’s 90 years of experience to see what’s around the corner, forward-thinking insights to prepare you, and technology to keep you ahead of the curve. What would you like the power to do?® James Diedrich, james.a.diedrich@bofa.com Eugene Gonzalez, eugene.gonzalez2@bofa.com Steve Hood, steve.hood@bofa.com Liane Low-Bevett, liane.low-bevett@bofa.com Crystal Moreno, crystal.e.moreno@bofa.com business.bofa.com/dealer ©2026 Bank of America Corporation. All rights reserved. 6942528 01-26-2489 Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, derivatives, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc., which is a registered broker-dealer and Member of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. is a registered futures commission merchant with the CFTC and a member of the NFA.
6 PRESIDENT’S MESSAGE Maintaining a Strong Foundation By Brian Maas, President, CNCDA 8 2026 Officers and Directors 10 Under the Hood Getting to Know Your CNCDA Staff 12 MANNING LEAVER LEGAL LANE Navigating the Fast Lane Understanding California’s Advertising Laws By Wade Kackstetter, Esq., Partner, Manning, Leaver, Bruder & Berberich LLP 16 CNCDA 2026 Annual Convention Growing Connections, Driving Success 17 CNCDA at NADA 2026 22 CNCDA 2026 Sponsors 24 California Auto Outlook Covering Fourth Quarter 2025 ©2026 The California New Car Dealers Association (CNCDA) | MBR Connect DBA The newsLINK Group LLC. All rights reserved. California New Car Dealer Quarterly is published four times per year by The newsLINK Group LLC for CNCDA and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of CNCDA, its board of directors or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. California New Car Dealer Quarterly is a collective work, and as such, some articles are submitted by authors who are independent of CNCDA. While a first-print policy is encouraged, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at (855) 747-4003. 12 Contents 2026 ISSUE 1 1517 L St. Sacramento, CA 95814 www.cncda.org (916) 441-2599 2026 CNCDA Leadership & Staff Brian Maas President bmaas@cncda.org Michael Walsh, MBA Chief Financial Officer mwalsh@cncda.org Anthony Bento Chief Legal Officer abento@cncda.org Crystal Bolaños Director of Education & Events cbolanos@cncda.org Autumn Heacox Director of Communications & Marketing aheacox@cncda.org Cathy Mason Director of Operations cmason@cncda.org Rebecca Matulich Director of Strategic Partnerships rmatulich@cncda.org Kenton Stanhope Director of Government Affairs kstanhope@cncda.org Les Swizer Legal & Regulatory Affairs Counsel lswizer@cncda.org Andrea Daugherty Political Engagement Manager adaugherty@cncda.org Lauren Johnston Membership & Accounting Manager ljohnston@cncda.org Liza Hernandez Staff Accountant lhernandez@cncda.org Stacy Barawed Executive Assistant sbarawed@cncda.org McKenna Bediamol Administrative Coordinator mbediamol@cncda.org Kim McPhaul CNCDA Foundation President kmcphaul@cncda.org Lewis Keys CNCDA Foundation Program Manager lkeys@cncda.org Felicia Palombi CNCDA Foundation Fund Development Manager fpalombi@cncda.org Genesis Flores CNCDA Foundation Marketing Associate gflores@cncda.org 17
Maintaining a Strong Foundation In 1994, CNCDA helped establish a separate nonprofit scholarship foundation with a focused purpose: to encourage young people to pursue careers in California’s automotive industry. Three years ago, the CNCDA Foundation Board of Directors refined that mission with a disciplined objective: to strengthen California’s automotive workforce by building structured pathways into dealership careers. Today, the CNCDA Foundation stands as one of the strongest dealer-supported technician workforce programs in the country. Its model is gaining attention beyond California because it delivers measurable results. Career technical education leaders and legislators consistently prioritize programs that create regional job opportunities and lifelong careers. The Foundation is doing exactly that. Through Automotive Technology Career Days, dealer-sponsored internships, pre-apprenticeships and the Technician Apprenticeship Program powered by Automotive Apprenticeship Group, the CNCDA Foundation engages students across the state long before they begin their job search. Students are introduced to dealership careers, compensation potential, advancement opportunities and the long-term stability this profession offers. For dealerships facing technician shortages, this work directly supports their future hiring needs. It also demonstrates that California’s franchised dealers are investing in workforce development, creating meaningful careers and strengthening local economies. CNCDA Foundation’s programs: • Build early awareness of dealership career paths • Provide structured, work-based learning • Connect dealers with emerging talent • Support long-term technician development and retention Our association is proud to work alongside a foundation that has built a program of this strength and scale. It reflects California dealers’ commitment to providing meaningful opportunities and lifelong career advancement. You can support the CNCDA Foundation’s efforts in two ways: 1. Contribute $500 per rooftop. Dealer contributions remain essential. Your tax-deductible donation supports Career Days, student engagement and the development of the technician pipeline in your region. 2. Attend a Career Day event. Even as an observer, you will see the level of interest students have in understanding dealership careers and how to enter the field. The CNCDA Foundation’s work is active, growing and making an impact now. Your engagement ensures they can continue their work to strengthen the future automotive industry workforce. We applaud their team and dealer leadership for their commitment to these students and our industry. Visit www.cncdafoundation.org to learn more. PRESIDENT’S MESSAGE BRIAN MAAS President, CNCDA 6 California New Car Dealer Quarterly
2026 Officers and Directors EXECUTIVE COMMITTEE Jessie Dosanjh CHAIRMAN Stevens Creek Chevrolet Devinder Singh Bains VICE CHAIRMAN Turlock Chrysler Dodge Jeep Ram Ryan Fitzpatrick SECRETARY/TREASURER Coliseum Lexus of Oakland Robb Hernandez IMMEDIATE PAST CHAIRMAN Camino Real Chevrolet Tony Toohey REGION 1 VICE PRESIDENT Auburn Toyota Mark Normandin REGION 2 VICE PRESIDENT Normandin Chrysler Dodge Jeep Ram Cheryl Bedford REGION 3 VICE PRESIDENT Sunset Auto Center John Oh REGION 4 VICE PRESIDENT Lexus of Westminster Sal Gonzales REGION 5 VICE PRESIDENT Culver City Volvo California New Car Dealer Quarterly 8
DIRECTORS REGION 1 Randy Denham SJ Denham Inc. Matthew Hall AutoNation Western Region Taz Harvey Dublin Mazda Rick Niello The Niello Company Tony Toohey Auburn Toyota REGION 2 Jessie Dosanjh Stevens Creek Chevrolet Ryan Fitzpatrick Coliseum Lexus of Oakland Dave Moeller City Toyota Mark Normandin Normandin Chrysler Dodge Jeep Ram Devinder Singh Bains Turlock Chrysler Dodge Jeep Ram REGION 3 Cheryl Bedford Sunset Auto Center Don Groppetti Nissan of Visalia Bill Hatfield Hatfield Buick GMC Ted Nicholas Three-Way Chevrolet Cadillac Ellena Woodhams‑Sweet Fresno Acura REGION 4 James Graham Santa Margarita Ford Jared Hardin Hardin Buick GMC John Oh Lexus of Westminster David Simpson Simpson Buick GMC Cadillac of Buena Park Craig Whetter Wilson Automotive Group REGION 5 Anne Smith Boland Bob Smith BMW Tom George Thorson Motor Center Sal Gonzalez Culver City Volvo Rinaldi Halim Sierra Automotive Group Robb Hernandez Camino Real Chevrolet 9 California New Car Dealer Quarterly
LIZA HERNANDEZ Staff Accountant Hometown: Pico Rivera, California With CNCDA since: Oct. 31, 2006 Congratulations, Liza, on 20 years at CNCDA! Tell us about your background. How did you end up at CNCDA? I was working at a printer but was looking for new opportunities, and a friend of mine at a temp agency helped me find a temp-to-hire role at TDIC, a for-profit subsidiary of the California Dental Association. There, I ended up working under CNCDA Membership Manager Lauren Johnston’s mom, Cindy. Eventually, I moved to the California Hospital Association for about a year, where I once again worked for Cindy. In the fall of 2006, our former CFO called me and asked if I would be interested in a staff accountant position at CNCDA, and I was offered the job shortly after my interview. When I put in my notice at the Hospital Association, we smoothed things over with Cindy for the price of a few boxes of See’s Candies Bordeaux chocolates. What does your current position entail? I handle day-to-day accounting, including accounts payable, keeping our general ledger current with daily bank transactions, reconciling credit card transactions and performing account reconciliations. I also handle the payroll. What’s something you work on behind the scenes that directly benefits our dealer members? I feel that making our accounts payable run smoothly means other businesses want to work with CNCDA and, by extension, its dealer members. Also, ensuring that CNCDA staff are paid properly and on time enables us to focus on our responsibilities and better serve our members. What might people be surprised to learn about you? I love crafts, from card-making to diamond painting, and I recently got into book nooks and miniatures. My work at CNCDA really engages the logical side of my brain, but crafting engages the more creative side and helps me relax and unwind. I don’t think I could do what I do at CNCDA without having a creative outlet. What was your first car? My first car was a red Mustang coupe from the ‘70s. It wasn’t in the best condition, but I loved that car. It was fun to drive, but it hated the hills at Rio Hondo College. Under the Hood 10 California New Car Dealer Quarterly
CATHY MASON Director of Operations Hometown: Portland, Oregon With CNCDA since: June 2021 Tell us about your background. How did you end up at CNCDA? I’ve worked in the association space for many years. I started at CalChamber, running the business services division, then moved to the California Applicants’ Attorneys Association, where I worked with Rebecca [Matulich, CNCDA’s Director of Strategic Partnerships]. She was the one who suggested I apply for the Director of Operations position at CNCDA when it became available. What does your current position entail? I take care of the building and parking lot, work with all our vendors and the City of Sacramento, and coordinate the use of our showroom for meetings and fundraisers, among other things. I also handle the association’s day-to-day HR needs. What’s something you work on behind the scenes that directly benefits our dealer members? Making sure the CNCDA headquarters are well-maintained. What do you enjoy most about working with California’s dealer community? They are friendly and engaging, and always make you feel part of the dealer community. I think it’s fabulous how much our dealers give back to their communities. What might people be surprised to learn about you? I used to do a lot of four-wheeling and have been over the Rubicon numerous times. We used to do a midnight run every year with 150 off-road vehicles. We would camp for two days about halfway through, then finish the trip in Tahoma. What was your first car? A Plymouth Satellite Sebring. GETTING TO KNOW YOUR CNCDA STAFF 11 California New Car Dealer Quarterly
MANNING LEAVER LEGAL LANE Navigating the Fast Lane UNDERSTANDING CALIFORNIA’S ADVERTISING LAWS BY WADE KACKSTETTER, ESQ. Partner, Manning, Leaver, Bruder & Berberich LLP 12 California New Car Dealer Quarterly
The regulatory landscape facing California motor vehicle dealerships today is a high-stakes environment where the rules of the road are constantly shifting. For dealership professionals, navigating this terrain requires more than a basic understanding of sales; it demands a rigorous commitment to legal compliance with federal and state statutes, administrative regulations and evolving court decisions. The complexity of this environment is only increasing with the upcoming implementation of the California Combating Auto Retail Scams (CARS) Act, set to take effect on Oct. 1, 2026. Notably, while a Federal Trade Commission (FTC) rule of a similar name was recently vacated by a federal appeals court, the California CARS Act, although much less burdensome than the FTC rule, will soon impose new obligations on dealers. This article provides a brief summary of certain advertising requirements to help dealerships with advertising compliance. The Foundation: Sources and Standards of Law To stay ahead, dealerships must recognize that advertising law is not a single set of rules but a multifaceted body of legal standards. The primary backbone of this framework consists of federal and state statutes. However, these statutes are given specificity and detail through regulations issued by government agencies, such as the FTC and state agencies. These agencies do not just write rules; they provide ongoing guidance and interpretations that reveal how they intend to enforce those laws in the real world. Furthermore, court decisions serve as essential benchmarks, interpreting how these laws apply to specific dealership scenarios. In California, two specific codes form the bedrock of advertising rules: the Business and Professions Code Section 17500 and the Vehicle Code Section 11713(a). While the former applies to all businesses in the state, the latter is a specialized statute designed specifically for DMV license holders, including automobile dealerships. Together, they establish the industry’s “Golden Rule” for advertising: Advertisements must not be untrue or misleading. The Regulator’s Perspective. When a regulator reviews your ad, they aren’t looking for your intent to deceive. It is irrelevant whether you intended to be honest or whether a consumer was actually harmed or relied on the ad. Instead, the standard is objective: Is an ordinary person likely to be misled or deceived by the advertisement? If the answer is “yes,” your dealership is at risk. The Art of the Disclosure: Clear, Conspicuous and Consistent Disclosures are the primary tool for staying compliant, but they are often misunderstood. To satisfy legal standards, every disclosure must be clear and conspicuous. In the fast-paced world of digital and print media, this means the advertisement must actively draw the reader’s attention to the fine print. For written materials, “clear and conspicuous” translates to specific visual best practices: • Size: The text must be large enough to be easily noticed and read by consumers. • Contrast: There must be sufficient contrast between the text and the background. • Purpose: A disclosure should never contradict the main message of the ad; its legal function is to clarify the offer or provide material terms, qualifiers and conditions. • Video: In a video, a disclosure should remain on the screen long enough to be easily read and understood. Price Advertising Price advertising is a cornerstone of dealership marketing, but it is also the area where many legal landmines are buried. Under current standards, when you advertise a vehicle’s price, it must be the total amount a purchaser will pay. What Is Excluded From the “Total Price?” California law is very specific about what does not have to be included in the advertised total price and allows the following to be excluded: • Taxes and vehicle registration fees, • The California tire fee, • Emissions testing charges, • Finance charges, • Dealer document processing charges (see, however, the discussion that immediately follows), and • Charges for electronic registration or transfer of the vehicle. If these items are excluded, a mandatory disclosure statement is required, namely a disclosure substantially similar to the following: “Plus government fees and taxes, any finance charges, any dealer document processing charge, any electronic filing charge and any emission testing charge.” Note, however, on March 13, 2026, the FTC sent a warning letter to many dealership groups taking the position that the exclusion of any non-governmental fees, such as the dealer document processing charge, from an advertised vehicle price is illegal. Under these circumstances, a conservative approach to avoid a compliance issue with the FTC is to include any document processing charge in advertised prices. Excluding the document processing charge with proper disclosure as permitted by California law may be defensible, but this approach carries legal risk. Dealers are advised to monitor further developments on this point, including alerts from the California New Car Dealers Association. The MSRP Trap. The advertised price is a ceiling, not a suggestion. Dealerships are legally prohibited from selling a vehicle for more than its advertised price. This can become tricky when the Manufacturer’s Suggested Retail Price (MSRP) is advertised for a specific vehicle. If you list an 13 California New Car Dealer Quarterly
MSRP that is not the actual total price, you risk creating a misleading impression. Dealerships must be careful to ensure that a consumer doesn’t mistake a listed MSRP for the vehicle’s total price. The CARS Act will impact this, as discussed below. The 2026 Shift: The California CARS Act Impact Among other things, the California CARS Act represents a tightening of price transparency. Under this Act, the disclosure of the “total price” becomes mandatory in a wider variety of contexts: 1. Vehicle References: Any ad referencing a specific vehicle for sale must disclose the total price. 2. Monetary and Financing Terms: Any ad representing a monetary amount or a financing term for a specific vehicle must include the total price. 3. Direct Communication: The Act requires a total price disclosure in the first written communication to a consumer that mentions a specific vehicle, a monetary amount or a financing term. Because the CARS Act requires the total price to be included in these situations, if the MSRP is not the total price for a specific vehicle advertised, the total price must be disclosed either alongside or instead of the MSRP. Rebates: The “Net Cost” Calculation Rebates are a powerful sales tool, but they are strictly regulated to prevent “phantom” pricing. Dealerships are prohibited from advertising their own dealer rebates, though factory rebates are permitted if they are expressed in specific dollar amounts. These tips can help you stay compliant when advertising factory rebates. • Math Transparency: A good practice has been to show the actual total price first, then show the deduction of the rebate, and finally display the resulting “net cost.” • The “Anti-Stacking” Rule: You cannot “stack” conditional rebates, such as combining military, first responder and college student discounts, to reach an artificially low net cost that almost no customer could qualify for. Moreover, you should not advertise a rebate with conditions that conflict with the conditions of another rebate in the stack, or that cannot be combined with another rebate included in the stack. In its March warning letter, the FTC states that it is illegal to advertise a price that reflects rebates or discounts not available to all consumers. We are awaiting clarification on whether the FTC would also prohibit the use of such conditional rebates in price stacks and net cost calculations even when permitted in advertising under California law. • Disclosure of Conditions: Any material requirement to receive a rebate (e.g., residency or military status) must be clearly stated. Deep Dive: Vehicle Financing and Regulation Z When advertising financing, you must be aware of “trigger terms” defined under Regulation Z. If your ad uses even one of these terms, you are legally obligated to provide a full suite of additional disclosures to ensure the consumer understands the true cost of credit. The trigger terms of Regulation Z: • The amount or percentage of the required downpayment • The number of payments or the period of repayment • The amount of any payment • The amount of any finance charge The Required Disclosures. Once a trigger is pulled, your advertisement must also include: 1. Downpayment Details: The specific amount or percentage downpayment required. 2. Repayment Terms: This includes the number of payments and either the specific monthly payment amount or the payment per unit of financing amount (e.g., payment per $1,000 borrowed). 3. The APR: The annual percentage rate must be clearly stated using that exact term or the abbreviation “APR.” 4. Credit Approval: Since credit approval is required, you must disclose that the offer is “on approved credit.” Furthermore, under the CARS Act, any advertisement containing these financing terms for a specific vehicle must also prominently disclose that vehicle’s total price. Deep Dive: Leases and Regulation M Leasing advertisements are governed by Regulation M, which operates on a “trigger” logic similar to Regulation Z but with its own set of specific requirements. Because leases are complex, regulators require more detailed disclosures to prevent consumers from being misled about their financial obligations. The trigger terms of Regulation M: • The amount of any payment (e.g., $399 per month) • A statement of any capitalized cost reduction, or other payment, required when the lease starts, or that no payment is required (e.g., $1500 down, or $0 due at signing) • Any mention of a required capitalized cost reduction 14 California New Car Dealer Quarterly
The Required Disclosures. If any trigger term appears, the ad must also disclose: 1. The Nature of the Transaction: You must explicitly state that the transaction is a lease. 2. Total Due at Start: The full amount the consumer must pay at the beginning of the lease. 3. Payment Schedule: The number of payments, the amount of each and their due dates. 4. Security Deposit: Whether or not a security deposit is required. 5. Mileage Terms: The mileage limitation and the specific charge for any excess mileage. 6. Tax and License: The statement “plus tax and license” if amounts due for use tax, license and registration fees are not included in the advertised lease payments, which is typical. 7. Credit Approval: Like financing, an “on approved credit” disclosure is mandatory. The Equal Prominence Rule: If you advertise “$0 down” or a specific component of the total due at the start of the lease (other than the monthly payment amount), it cannot be more prominent than the total amount due at lease signing. The Third-Party Myth: Why You Can’t Outsource Liability A dangerous misconception is that external partners, such as advertising vendors or manufacturers, will handle the legal heavy lifting. If your dealership runs an ad that violates applicable law, you are responsible for it. Relying on a third party for compliance is typically not a valid legal defense. The Vendor Gap. Many advertising vendors lack a deep understanding of California’s heightened compliance standards, which are often stricter than those in other states. The Manufacturer Gap. Manufacturers often require ads to go through their own compliance processes for co-op reimbursement purposes. However, these compliance reviews are typically intended to protect the manufacturer’s brand and its advertising requirements, not to ensure the dealership meets all legal requirements. Furthermore, OEM-provided ad copy and disclosures are usually written for a national audience. They are often not tailored to California’s specific legal requirements or the unique needs of an individual dealership. In fact, disclosures that are perfectly legal for a manufacturer to use may not be legally compliant for a dealership. The Price of Non-Compliance The consequences of cutting corners on advertising compliance are severe. Beyond the immediate financial hit, a single misleading ad can trigger: • Time-Consuming Lawsuits: These can drain resources and focus away from sales. • FTC Consent Decrees: These can place a dealership under federal supervision and restrict its advertising, often for up to 20 years. • DMV Actions: The DMV has the authority to suspend or revoke a dealership’s license for compliance failures. • Criminal and Other Penalties: In extreme cases, fines, injunctions and even criminal charges are possible. • Reputational Erosion: Misleading ads destroy customer trust and satisfaction, which are the lifeblood of a sustainable business. Action Plan for 2026 and Beyond To protect your dealership in this evolving environment, implement these three compliance strategies: 1. Establish Internal Accountability: Appoint a management-level employee to oversee and be personally accountable for all advertising law compliance. 2. Invest in Training: Ensure every employee involved in the creation or approval of advertisements is trained in current legal requirements. 3. Leverage Legal Counsel: There are many other advertising laws, and this article only scratches the surface. Work with experienced legal counsel to audit your existing materials, develop compliant advertising templates and provide a review of new campaigns. The California New Car Dealers Association also provides resources to help dealerships with legal compliance, including the California Auto Dealer Advertising Law Manual, authored by Manning, Leaver, Bruder & Berberich LLP. The author of this article is a partner at Manning, Leaver, Bruder & Berberich LLP, a Los Angeles law firm that practices throughout California and has been in existence for over 100 years. It has a strong automobile dealer practice covering all areas related to the automobile dealer industry, including dealership buy-sells, real estate transactions, business and consumer litigation, regulatory compliance, dealer advertising law, dealer association law, new motor vehicle board matters and franchise law. See www.manningleaver.com for more information and areas of practice. Nothing in this article may be considered as legal advice. Contact legal counsel for legal advice. 15 California New Car Dealer Quarterly
Growing Connections Driving Success 2026 ANNUAL CONVENTION
CNCDA at NADA 2026 The California New Car Dealers Association would like to sincerely thank all of our dealer members, sponsors and invited guests who attended our Welcome Party at the Wynn Las Vegas as we kicked off NADA Show 2026! We were thrilled to connect with everyone and celebrate the dealer community. We hope you join us in Orlando, Florida, next year! 17 California New Car Dealer Quarterly
CNCDA at NADA 2026 RS18001-CarDealerAd-jy04-final3-outlines.indd 1 12/11/18 1:28 PM 18 California New Car Dealer Quarterly
CNCDA at NADA 2026 19 California New Car Dealer Quarterly
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California Auto Outlook Comprehensive Information on the California Vehicle Market Released January 2026 Covering Fourth Quarter 2025 TM Publication Sponsored By: New Vehicle Registrations Predicted to Decline Slightly in 2026 TWO YEAR PERSPECTIVE Historical Data sourced from Experian Automotive. *2026 forecast by Auto Outlook. Historical figures have been updated since the previous release. California Annual New Light Vehicle Registrations - 2011 thru 2026 ANNUAL TRENDS QUARTERLY RESULTS California Quarterly New Light Vehicle Registrations Percent Change vs. Year Earlier Data sourced from Experian Automotive. 1.19 1.49 1.66 1.78 1.99 2.03 2.03 1.99 1.89 1.60 1.77 1.58 1.761.751.811.78 0.0 0.5 1.0 1.5 2.0 2.5 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26* New vehicle regs. (millions) Years California U.S. 2024 2025 Change 2024 2025 Change Registrations TOTAL 1,748,689 1,806,762 3.3% 15,457,894 16,102,983 4.2% Car 478,419 463,741 -3.1% 2,914,244 2,688,920 -7.7% Light Truck 1,270,270 1,343,021 5.7% 12,543,650 13,414,063 6.9% Domestic 583,201 586,050 0.5% 6,448,504 6,766,496 4.9% European 259,825 255,684 -1.6% 1,584,766 1,543,626 -2.6% Japanese 731,941 774,618 5.8% 5,766,721 5,976,113 3.6% Other Asian 173,722 190,410 9.6% 1,657,903 1,816,748 9.6% Market Share Car 27.4 25.7 -1.7 18.9 16.7 -2.2 Light Truck 72.6 74.3 1.7 81.1 83.3 2.2 Domestic 33.4 32.4 -1.0 41.7 42.0 0.3 European 14.9 14.2 -0.7 10.3 9.6 -0.7 Japanese 42.0 42.9 0.9 37.3 37.1 -0.2 Other Asian 9.9 10.5 0.6 10.7 11.3 0.6 Data sourced from Experian Automotive. Other Asian brands includes Genesis, Hyundai, Kia, and VinFast. -4.2% 3.6% 7.2% 4.8% 3.3% -1.9% 3Q '24 vs. 3Q '23 4Q '24 vs. 4Q '23 1Q '25 vs. 1Q '24 2Q '25 vs. 2Q '24 3Q '25 vs. 3Q '24 4Q '25 vs. 4Q '24 % change vs. year earlier California and U.S New Light Vehicle Registrations 2024 and 2025 Annual Totals State new vehicle market improved in 2025. California new light vehicle registrations increased 3.3 percent from 2024 to 2025, slightly below the 4.2 percent improvement in the nation. As expected, the market declined in the fourth quarter, with registrations falling 1.9 percent versus the year earlier. California new vehicle registrations predicted to decline slightly in 2026. Transaction prices nearing $50,000 are making new vehicle purchases a stretch for many consumers. Additionally, tariffs will almost certainly lead to rising vehicle prices, the labor market is weakening, and household incomes are barely keeping pace with inflation. However, the news isn’t entirely bleak. The average age of vehicles on the road is at a record high, partly due to postponed purchases since the pandemic. This resulting pent-up demand, coupled with the prospects of lower interest rates, should limit any potential decline in sales in 2026. New vehicle registrations this year are predicted to slip below 1.8 million units and fall 1.5 percent from 2025. ZEV sales declined sharply at the end of 2025. New registrations of ZEVs headed lower during the last few months of 2025 due to the expiration of federal government tax credits. ZEV share of the new vehicle market was 22.2 percent during the first ten months of 2025 and declined to just 12.8 percent in November and December. Hybrid registrations increased 36 percent last year, and market share reached 19.4 percent, up more than ten percentage points versus points three years earlier. KEY TRENDS IN NEW VEHICLE MARKET 24 California New Car Dealer Quarterly
Page 2 California Auto Outlook Gasoline, 54.0% Electric (BEV), 20.9% Hybrid, 19.4% Plug In Hybrid (PHEV), 3.5% Diesel, 2.2% Fuel Cell, 0.0% Annual Registrations and Market Share Quarterly Registrations and Market Share 2021 2022 2023 2024 2025 4Q '24 1Q '25 2Q '25 3Q '25 4Q '25* ZEV registrations 164453 262209 382335 385513 378216 ZEV registrations 93166 95561 87464 109099 86092 ZEV share 9.3% 16.6% 21.7% 22.0% 20.9% ZEV share 21.4% 20.9% 18.2% 24.8% 20.1% Hybrid regs. (excl. plug ins) 161076 144900 196211 258273 351391 Hybrid regs. (excl. plug ins) 76541 82512 98280 83540 87059 Hybrid share (excl. plug ins) 9.1% 9.2% 11.1% 14.8% 19.4% Hybrid share (excl. plug ins) 17.6% 18.0% 20.4% 19.0% 20.4% PHEV regs. 53166 41919 60517 60839 63701 PHEV regs. 15454 17055 18885 16702 11059 PHEV share 3.0% 2.7% 3.4% 3.5% 3.5% PHEV share 3.5% 3.7% 3.9% 3.8% 2.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 2017 2018 2019 2020 2021 2022 2023 2024 2025 Market Share ZEVs Hybrids (excl. plug ins) PHEVs 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 1Q '24 2Q '24 3Q '24 4Q '24 1Q '25 2Q '25 3Q '25 4Q '25* Market Share ZEVs Hybrids (excl. plug ins) PHEVs Vehicle Powertrain Dashboard Annual Quarterly *Due to customary processing delays, vehicle registration data lags the reporting of actual sales. This has impacted the measurement of ZEV market share during the last few months of 2025. ZEV sales were high in the second half of September due to the expiration of federal government tax credits, but many of these transactions were likely recorded as October registrations, inflating the measurement of BEV share in 4Q ’25. BEV share for the entire fourth quarter (October through December) was 20.1 percent vs. just 12.8% in November and December. The two-month figure is more reflective of BEV share following the expiration of the tax credits. Data sourced from Experian Automotive. ZEVs are full battery electric vehicles and include fuel cell vehicles. PHEVs are plug in hybrids. ZEV share fell from 22.0% in 2024 to 20.9% in 2025. Market Share for all Powertrain Types - 2025 California and U.S. Markets California ZEV market share 2025 20.9% ❏ Gasoline powered vehicles accounted for 54.0 percent of state new vehicle registrations in 2025. ❏ ICE vehicle market share (including gasoline and diesel vehicles) was 56.2 percent last year, down from 59.7 percent in 2024. ICE vehicle share should move slightly higher due to the expiration of federal government ZEV incentives, while sales of hybrids should continue to accelerate this year. ❏ Combined share for BEVs, PHEVs, hybrids, and fuel cell vehicles was 43.8 percent last year, up from just 11.6 percent in 2018. Electric and Hybrid Vehicle Market Share U.S. ZEV market share 2025 8.2% California share of U.S. ZEV registrations 2025 28.5% Data sourced from Experian Automotive. Data sourced from Experian Automotive. ZEV market share declined from 24.8% in Q3 ‘25 to 20.1% in Q4 ‘25. (See note below about 4Q figures.) 25 California New Car Dealer Quarterly
Page 3 California Auto Outlook Vehicle Powertrain Dashboard Make and Model Registrations for Hybrids, ZEVs, and PHEVs in California ZEVs are full battery electric vehicles (BEVs) and fuel cell vehicles. PHEVs are plug in hybrids. Data sourced from Experian Automotive. Top 25 Selling Hybrid, ZEV, and PHEV Models - 2025 Rank Model Type Regs. 1 Tesla Model Y ZEV 110,120 2 Toyota Camry Hybrid 62,294 3 Tesla Model 3 ZEV 53,989 4 Honda CR-V Hybrid 34,955 5 Toyota RAV4 Hybrid 30,927 6 Honda Civic Hybrid 20,984 7 Hyundai Ioniq 5 ZEV 18,919 8 Honda Accord Hybrid 18,507 9 Toyota Corolla Hybrid 14,602 10 Honda Prologue ZEV 14,308 11 Toyota Sienna Hybrid 14,062 12 Ford Mustang Mach-E ZEV 12,620 13 Chevrolet Equinox ZEV 11,754 14 Ford Maverick Hybrid 11,055 15 Toyota Prius Hybrid 10,967 16 Toyota Grand Highlander Hybrid 10,374 17 Rivian R1S ZEV 8,658 18 Hyundai Tucson Hybrid 8,496 19 Lexus NX Hybrid 8,366 20 BMW i4 ZEV 8,274 21 Hyundai Santa Fe Hybrid 8,184 22 Lexus RX Hybrid 7,786 23 Lexus ES Hybrid 7,347 24 Tesla Cybertruck ZEV 7,312 25 Mazda CX-50 Hybrid 6,742 California New Zero Emission Vehicle Registrations by Make 2024 and 2025 Annual Totals Registrations Market Share (%) 2024 2025 % Change 2024 2025 Change TOTAL 385,513 378,216 -1.9 Acura 1,102 4,488 307.3 0.3 1.2 0.9 Audi 10,071 12,484 24.0 2.6 3.3 0.7 BMW 18,430 17,520 -4.9 4.8 4.6 -0.2 Cadillac 5,062 7,906 56.2 1.3 2.1 0.8 Chevrolet 13,840 18,837 36.1 3.6 5.0 1.4 Dodge 0 833 -- 0.0 0.2 0.2 Ford 17,184 19,245 12.0 4.5 5.1 0.6 Genesis 1,744 1,510 -13.4 0.5 0.4 -0.1 GMC 2,579 3,687 43.0 0.7 1.0 0.3 Honda 6,985 14,470 107.2 1.8 3.8 2.0 Hyundai 22,684 25,123 10.8 5.9 6.6 0.7 Jeep 0 1,213 -- 0.0 0.3 0.3 Kia 13,890 10,117 -27.2 3.6 2.7 -0.9 Lexus 4,077 2,409 -40.9 1.1 0.6 -0.5 Lucid 2,464 3,910 58.7 0.6 1.0 0.4 Mazda 8 2 -75.0 0.0 0.0 0.0 Mercedes-Benz 17,220 10,946 -36.4 4.5 2.9 -1.6 MINI 870 597 -31.4 0.2 0.2 0.0 Nissan 5,851 5,956 1.8 1.5 1.6 0.1 Other 7,327 2,239 -69.4 1.9 0.6 -1.3 Polestar 1,957 1,139 -41.8 0.5 0.3 -0.2 Porsche 2,244 4,456 98.6 0.6 1.2 0.6 Ram 4 35 775.0 0.0 0.0 0.0 Rivian 12,031 11,133 -7.5 3.1 2.9 -0.2 Subaru 2,625 3,180 21.1 0.7 0.8 0.1 Tesla 202,865 179,656 -11.4 52.6 47.5 -5.1 Toyota 5,948 4,648 -21.9 1.5 1.2 -0.3 Volkswagen 5,435 7,782 43.2 1.4 2.1 0.7 Volvo 1,016 2,695 165.3 0.3 0.7 0.4 0 50000 100000 150000 200000 250000 300000 350000 400000 450000 2024 2025 2024 2025 2024 2025 Hybrid ZEV PHEV New vehicle registrations Franchised Direct Alternative Powertrain Sales by Type of Selling Dealership - 2024 and 2025 ❏ The graph on the left shows new vehicle registrations for Hybrids, ZEVs, and PHEVs broken down by type of selling dealership. Franchised dealerships accounted for more than 75 percent of combined sales for all three alternative powertrain types. ❏ Franchised dealership share of the ZEV only market increased to 48.4 percent in 2025, up from 42.6 percent a year earlier. ❏ Hybrid registrations exceeded 350,000 units last year, all of these vehicles were sold by franchised dealerships. Data sourced from Experian Automotive. 26 California New Car Dealer Quarterly
Covering Fourth Quarter 2025 Page 4 The table below shows the top five selling models during 2025 in 18 segments. In addition to unit registrations, it also shows each model’s market share in its respective segment. MODEL RANKINGS Tesla Model Y is Top-Selling Light Truck in California; Camry Expanded Lead in Passenger Car Market BEST SELLERS IN PRIMARY SEGMENTS Small Cars: Honda Civic Full Size Pickup: Ford F-Series Mid-Size and Large Cars: Toyota Camry Compact SUV: Toyota RAV4 Near Luxury Cars: Tesla Model 3 2 Row Mid-Size SUV: Honda Prologue Comp./Mid Size Pickup: Toyota Tacoma Luxury Mid-Size SUV: Lexus RX Data sourced from Experian Automotive. Figures for Prius include Prius Prime. Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Honda Civic 53085 30.4 Toyota Camry 62324 50.0 Ford Mustang 4458 44.2 Tesla Model 3 53989 48.5 Toyota Corolla 39208 22.5 Honda Accord 30455 24.4 Toyota 86 2228 22.1 Lexus ES 10512 9.4 Toyota Prius 15888 9.1 Nissan Altima 10079 8.1 Mazda MX5 1464 14.5 BMW i4 8274 7.4 Kia K4/Forte 15352 8.8 Kia K5 7268 5.8 Subaru BRZ 611 6.1 Mercedes C-Class 7588 6.8 Nissan Sentra 14954 8.6 Hyundai Sonata 6803 5.5 Nissan Z 577 5.7 BMW 3-Series 6296 5.7 Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share BMW 5-Series 3373 7.8 Toyota Tacoma 45258 51.3 Ford F-Series 39502 26.6 Toyota Sienna 14062 40.4 Lucid Air 3338 7.7 Ford Maverick 14904 16.9 Chevrolet Silverado 33634 22.7 Kia Carnival 8466 24.3 Mercedes E-Class 3212 7.4 Chevrolet Colorado 6798 7.7 Ram Pickup 20953 14.1 Honda Odyssey 7046 20.2 BMW i5 3193 7.4 Ford Ranger 5310 6.0 GMC Sierra 19689 13.3 Chrysler Pacifica 3298 9.5 Mercedes CLE-Class 3104 7.2 Nissan Frontier 4892 5.5 Toyota Tundra 15471 10.4 Volkswagen ID.Buzz 1431 4.1 Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Ford Transit Connect 9318 37.4 Subaru Crosstrek 18189 15.5 Toyota RAV4 65604 20.8 Honda Prologue 14308 16.4 Mercedes Sprinter 5834 23.4 Honda HR-V 18168 15.5 Honda CR-V 52311 16.6 Ford Mustang Mach-E 12620 14.5 Ram Promaster 3435 13.8 Toyota Corolla Cross 14382 12.3 Chevrolet Equinox 20388 6.5 Hyundai Santa Fe 12545 14.4 Chevrolet Express 2138 8.6 Chevrolet Trax 13301 11.3 Hyundai Ioniq 5 18919 6.0 Subaru Outback 11152 12.8 Ford E-Series 2069 8.3 Nissan Kicks 9542 8.1 Kia Sportage 17524 5.6 Toyota 4Runner 8341 9.6 Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Toyota Grand Highland1er5598 13.6 Ford Bronco 12480 26.3 Mercedes EQB 4192 15.6 Tesla Model Y 110120 59.0 Ford Explorer 13372 11.6 Chevrolet Tahoe 7339 15.5 Audi Q3 3640 13.6 Lexus NX 15542 8.3 Honda Pilot 11924 10.4 Chevrolet Suburban 5980 12.6 Mercedes GLA-Class 3306 12.3 Mercedes GLC-Class 14815 7.9 Kia Sorento 9506 8.3 Toyota Land Cruiser 5458 11.5 BMW X1 2975 11.1 BMW X3 9480 5.1 Kia Telluride 9099 7.9 GMC Yukon XL 3414 7.2 Audi Q4 E-Tron 2812 10.5 Porsche Macan 6753 3.6 Model Regs. Share Model Regs. Share Model Regs. Share Model Regs. Share Lexus RX 17446 16.3 Rivian R1S 8658 19.5 Toyota Camry 62324 13.4 Tesla Model Y 110120 8.2 Mercedes GLE-Class 11411 10.7 Lexus TX 7421 16.7 Tesla Model 3 53989 11.6 Toyota RAV4 65604 4.9 BMW X5 9749 9.1 Land Rover Range Rover 4867 10.9 Honda Civic 53085 11.4 Honda CR-V 52311 3.9 Audi Q6 e-tron 6368 5.9 Cadillac Escalade 4752 10.7 Toyota Corolla 39208 8.5 Toyota Tacoma 45258 3.4 Tesla Model X 5411 5.1 Mercedes GLS-Class 4125 9.3 Honda Accord 30455 6.6 Ford F-Series 39502 2.9 Luxury and High End Sports Cars Compact/Mid Size Pickup Full Size Pickup Mini Van Top Selling Models in Each Segment - New Retail Light Vehicle Registrations (2025) Small Cars Mid Size and Large Cars Sports/Pony Cars Near Luxury Cars Luxury Mid Size SUV Luxury Large SUV Top Selling Passenger Cars Top Selling Light Trucks Large Van Subcompact SUV Compact SUV 2 Row Mid Size SUV 3 Row Mid Size SUV Large SUV Luxury Subcompact SUV Luxury Compact SUV 27 California New Car Dealer Quarterly
Page 5 California Auto Outlook 3.6% 4.0% 2.5% 3.9% 2.3% 2.3% 5.3% 2.1% 5.5% 5.3% 11.1% 12.2% 3.7% 8.1% 13.2% 2.0% 2.1% 2.3% 3.1% 3.6% 3.6% 4.0% 4.1% 5.0% 5.0% 6.3% 7.7% 9.9% 10.8% 17.8% 0.0% 6.0% 12.0% 18.0% Jeep GMC Mazda Subaru BMW Lexus Nissan Mercedes-Benz Hyundai Kia Chevrolet Ford Tesla Honda Toyota Market Share State U.S. BRAND SUMMARY Registrations Increased by More Than 20 Percent for Six Brands; Toyota and Honda are Market Leaders Registrations increased by more than 20 percent for Lucid, Buick, Acura, Genesis, Jeep, and Cadillac California and U.S. Market Share - 2025 (Top 15 selling brands in CA) Percent Change in Brand Registrations 2025 vs. 2024 (Top 30 selling brands in CA) Data sourced from Experian Automotive. Toyota, Honda, Tesla, Ford, and Chevrolet were market share leaders in California. -54.0% -12.3% -11.4% -10.2% -8.4% -7.5% -5.7% -1.3% 0.5% 1.0% 1.3% 3.5% 4.8% 4.9% 6.7% 7.5% 7.5% 7.6% 8.2% 8.4% 9.3% 10.5% 11.6% 12.6% 22.8% 23.5% 24.6% 26.1% 58.0% 58.9% Dodge Volvo Tesla Volkswagen Subaru Rivian Audi Lincoln Porsche BMW Honda GMC Lexus Nissan Chevrolet Mercedes-Benz MINI Mazda Kia Ford Land Rover Ram Toyota Hyundai Cadillac Jeep Genesis Acura Buick Lucid 28 California New Car Dealer Quarterly
Covering Fourth Quarter 2025 Page 6 BRAND REGISTRATIONS Detailed Results for All Brands in California Market The table above shows new light vehicle (car and light truck) registrations in California. Figures are shown for the fourth quarters of 2024 and 2025, and annual totals. Vehicle registrations are recorded based on when the vehicle title information is processed by the state, which typically occurs after the vehicle is sold. The top ten ranked brands for change in market share are shaded yellow. Historical figures have been updated since the previous release. California Auto Outlook Published by: Auto Outlook, Inc., PO Box 390 Exton, PA 19341 Phone 610-640-1233 Email: autooutlook@icloud.com Any material quoted must be attributed to California Auto Outlook, published by Auto Outlook, Inc. on behalf of the California New Car Dealers Association. Data source must also be shown as “Data sourced from Experian Automotive.” Please contact CNCDA with any questions or comments regarding the publication. Copyright: Auto Outlook, Inc. January, 2026. At Auto Outlook, we strive to provide sound and accurate analyses and forecasts based upon the data available to us. However, our forecasts are derived from third-party data and contain a number of assumptions made by Auto Outlook and its management, including, without limitation, the accuracy of the data compiled. As a result, Auto Outlook can make no representation or warranty with respect to the accuracy or completeness of the data we provide or the forecasts or projections that we make based upon such data. Auto Outlook expressly disclaims any such warranties, and undue reliance should not be placed on any such data, forecasts, projections, or predictions. Auto Outlook undertakes no obligation to update or revise any predictions or forecasts, whether as a result of any new data, the occurrence of future events, or otherwise. California New Car and Light Truck Registrations Fourth Quarter Annual Totals Registrations Market Share (%) Registrations Market Share (%) 4Q '24 4Q '25 % Change 4Q '24 4Q '25 Change 2024 2025 % Change 2024 2025 Change TOTAL 435,881 427,432 -1.9 1,748,689 1,806,762 3.3 Acura 3,642 3,568 -2.0 0.8 0.8 0.0 13,583 17,134 26.1 0.8 0.9 0.1 Alfa Romeo 156 97 -37.8 0.0 0.0 0.0 870 493 -43.3 0.0 0.0 0.0 Audi 7,902 7,018 -11.2 1.8 1.6 -0.2 33,559 31,641 -5.7 1.9 1.8 -0.1 BMW 16,740 16,295 -2.7 3.8 3.8 0.0 64,859 65,500 1.0 3.7 3.6 -0.1 Buick 1,191 1,873 57.3 0.3 0.4 0.1 5,734 9,059 58.0 0.3 0.5 0.2 Cadillac 3,610 4,274 18.4 0.8 1.0 0.2 13,632 16,743 22.8 0.8 0.9 0.1 Chevrolet 28,444 24,835 -12.7 6.5 5.8 -0.7 106,985 114,125 6.7 6.1 6.3 0.2 Chrysler 1,022 512 -49.9 0.2 0.1 -0.1 4,647 3,727 -19.8 0.3 0.2 -0.1 Dodge 1,682 1,470 -12.6 0.4 0.3 -0.1 13,247 6,093 -54.0 0.8 0.3 -0.5 Ford 31,282 32,947 5.3 7.2 7.7 0.5 127,598 138,266 8.4 7.3 7.7 0.4 Genesis 2,003 2,261 12.9 0.5 0.5 0.0 7,382 9,196 24.6 0.4 0.5 0.1 GMC 10,005 8,669 -13.4 2.3 2.0 -0.3 36,253 37,533 3.5 2.1 2.1 0.0 Honda 48,661 43,204 -11.2 11.2 10.1 -1.1 191,808 194,343 1.3 11.0 10.8 -0.2 Hyundai 21,045 20,965 -0.4 4.8 4.9 0.1 79,598 89,658 12.6 4.6 5.0 0.4 Ineos 195 206 5.6 0.0 0.0 0.0 833 779 -6.5 0.0 0.0 0.0 Infiniti 1,006 786 -21.9 0.2 0.2 0.0 4,511 3,190 -29.3 0.3 0.2 -0.1 Jeep 7,630 6,500 -14.8 1.8 1.5 -0.3 29,060 35,903 23.5 1.7 2.0 0.3 Kia 21,613 23,878 10.5 5.0 5.6 0.6 84,057 90,965 8.2 4.8 5.0 0.2 Land Rover 3,886 3,216 -17.2 0.9 0.8 -0.1 13,752 15,028 9.3 0.8 0.8 0.0 Lexus 14,548 15,840 8.9 3.3 3.7 0.4 62,603 65,623 4.8 3.6 3.6 0.0 Lincoln 1,183 962 -18.7 0.3 0.2 -0.1 4,908 4,845 -1.3 0.3 0.3 0.0 Lucid 584 1,315 125.2 0.1 0.3 0.2 2,464 3,910 58.7 0.1 0.2 0.1 Mazda 9,688 8,992 -7.2 2.2 2.1 -0.1 39,190 42,179 7.6 2.2 2.3 0.1 Mercedes-Benz 19,124 17,319 -9.4 4.4 4.1 -0.3 68,433 73,538 7.5 3.9 4.1 0.2 MINI 1,112 1,067 -4.0 0.3 0.2 -0.1 4,027 4,330 7.5 0.2 0.2 0.0 Mitsubishi 749 480 -35.9 0.2 0.1 -0.1 2,920 3,100 6.2 0.2 0.2 0.0 Nissan 16,861 16,946 0.5 3.9 4.0 0.1 68,326 71,700 4.9 3.9 4.0 0.1 Polestar 198 240 21.2 0.0 0.1 0.1 1,957 1,139 -41.8 0.1 0.1 0.0 Porsche 4,561 3,666 -19.6 1.0 0.9 -0.1 16,911 16,992 0.5 1.0 0.9 -0.1 Ram 6,280 6,893 9.8 1.4 1.6 0.2 22,101 24,423 10.5 1.3 1.4 0.1 Rivian 2,983 2,417 -19.0 0.7 0.6 -0.1 12,031 11,133 -7.5 0.7 0.6 -0.1 Subaru 14,910 11,582 -22.3 3.4 2.7 -0.7 60,320 55,281 -8.4 3.4 3.1 -0.3 Tesla 43,402 44,302 2.1 10.0 10.4 0.4 202,865 179,656 -11.4 11.6 9.9 -1.7 Toyota 73,758 81,377 10.3 16.9 19.0 2.1 288,680 322,068 11.6 16.5 17.8 1.3 Volkswagen 7,070 7,652 8.2 1.6 1.8 0.2 31,820 28,576 -10.2 1.8 1.6 -0.2 Volvo 3,878 2,807 -27.6 0.9 0.7 -0.2 14,688 12,876 -12.3 0.8 0.7 -0.1 Other 3,277 1,001 -69.5 0.8 0.2 -0.6 12,477 6,017 -51.8 0.7 0.3 -0.4 Data sourced from Experian Automotive. 29 California New Car Dealer Quarterly
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