ExpertEye European Automotive Report Q3 2016

Top 10 Makes 5.5% above 2016. New commercial vehicle “CV” sales also remain strong thanks to the generally positive market place with sales to the end of October up 8.3% but with a 1.1% fall in September 3 Month and a 5.6% drop in October the market is definitely contracting. Overall CV sales are expected to RV% Change ease back in the remainder of the year and end up just under 8% above 2015 levels. MARKET AVERAGE 38.5 +1.5% PORSCHE 52.8 +1.2% SUVs remain the top choice for French car buyers which is why once again they take the top three LAND ROVER 46.9 +0.8% M INI 46.0 +1.0% JAGUAR 45.9 +0.4% traditional C segment models. Premium brands continue to get the strongest RVs despite AUDI 45.4 +0.3% significant improvements in build and material quality from volume manufacturers. VOLVO 45.3 +2.1% M ITSUBISHI 44.9 +5.4% As mentioned earlier the rise in RVs generally in France can be seen with eight of the top ten BM W 43.9 -0.5% segments all seeing RVs rising with only the premium medium segment and D1 large segments SUZUKI 42.9 +0.8% DACIA 41.4 -0.2% places for RVs. Compact SUVs continue to enjoy a strong position as they take sales away from the seeing values ease back a little as demand may not be totally in line with supply. Top 10 Segments The only change at the top of the brand table is Jumping up to third from fifth place. However the Mini has a lower list price and therefore a stronger RV percentage on average than a typical 3 Month RV% Change MARKET AVERAGE 38.5 +1.5% J3 Premium SUV 47.3 +0.3% thanks to the popularity of its PHEV Shogun model which has squeezed DS out of the top ten this J2 Compact SUV 45.9 +1.2% quarter J4 Luxury SUV 45.4 +0.1% D2 Large Premium 43.9 +0.0% Our view for 2017 remains unchanged from last quarter with petrol RVs still having room to C2 M edium Premium 43.2 -0.5% J1 Small SUV 43.0 +0.6% Jaguar or Audi. This means any increase in RVs as a result of increasing demand has a bigger impact on the scale of the RV percentage increase. Mitsubishi has leapt into seventh place in part increase by a further 2 percentage points with diesel having room to rise by a further 1 E1 Executive 42.6 +2.0% percentage point. Beyond 2017 is very much dependant on the political landscape but a 1-2p.p. M 2 Large M PV 41.0 +0.6% improvement in the RVs of younger used vehicles in 2018-19 still looks likely B1 Small 39.7 +0.2% D1 Large 39.6 -0.2% Source: ExpertEye AG European Automotive Report - 2016 Quarter 3 16

ExpertEye European Automotive Report Q3 2016 | Page 17