Pre-Owned Vehicles at 1996's New York International Auto Show

04/10/96

NEWS RELEASE

PRE-OWNED VEHICLES WILL HAVE A PRESENCE
AT 1996 NEW YORK INTERNATIONAL AUTO SHOW

February 2, 1996 (New York) In acknowledgment of the current
marketplace trends, the New York International Auto Show will allow
the display of pre-owned vehicles alongside the new cars and
trucks. At the request of the Greater New York Automobile Dealers
Association's Auto Show Committee, Committee Chairman Douglas Callahan
has invited manufacturers who have "Certified Pre-Owned Vehicle"
programs to show one pre-owned vehicle in their booth space. At least
half a dozen manufacturers have opted to do so.

Certified pre-owned vehicle programs are a growing influence in the
industry, a result of the large number of vehicles coming off of
lease. These low-mileage, well-maintained vehicles receive a thorough
"check-up" from the dealer, and are then "certified,"assuring the
consumer that the vehicles meet specific standards for mechanical and
structural soundness and safety. As additional quality assurance, they
are backed by the manufacturers' extended warranty. This is a strong
marketing tool for the dealers and manufacturers to help move used
vehicle inventory, and a great protection for consumers who can feel
more secure than they often do with ordinary used car purchases.

"The growth in these programs and their significance to the dealer
body, convinced us that this was something we want to share with the
people who come to the Auto Show," said John LaSorsa, GNYADA
President. "In the New York-area, leasing accounts for as much as 40%
of new vehicle transactions, and is often much higher for some luxury
makes, which means that our dealers have many, many vehicles returning
to their showrooms when the leases end. These pre-owned vehicle
programs will affect the way dealers sell a lot of cars, and we want
to acknowledge that at the Auto Show."

Manufacturers who have these programs will be able to display one such
vehicle, with appropriate signage, in their exhibit area. Show
Management is considering expanding the pre-owned vehicle exhibit area
in the future.

According to Callahan, "If these programs continue to grow, and more
manufacturers have them, and they account for more significant
dealership traffic, then we would consider increasing the exhibit
options in the future. Our dealers are very enthusiastic about
supporting the pre-owned vehicle programs through the Show."

The New York International Auto Show is being held April 6th through
14th at the Jacob Javits Convention Center in Manhattan.