Motorin‘ Auto Production Increases

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Motorin'

Auto Production Increases

Industry Overview

IHS auto production update – up about 441k

31 July 2026

In the July update, IHS increased its global 2026 estimate by 441,156 units largely due

to increases in South Asia (India/Australia), Japan/Korea, and Europe, and now sees

global 2026 volumes down -2.1% YoY to 91.12mn units and North America 2026

volumes -1.3% YoY to 15.06mn units. The July forecast update reflects a mix of mostly

upward revisions in the near-term offset somewhat by notable cuts for Greater China to

reflect the lingering domestic demand headwinds.

High Yield Credit

United States

Autos

Light vehicle sales overview

3

BofA SAAR estimate at 16.3mn

U.S. segments & market share

4

BofA expects U.S. light vehicle sales in July to run at a SAAR of 16.3mn units (Bloomberg

est. of 16.3mn), down from 16.5mn units last year. The numbers are expected to be

released on Monday, August 3rd. We expect Detroit 3 total vehicle unit sales to be down

1.8% YoY on a selling day adjusted basis.

Auto headlines

Ford (F) reported 2Q26 earnings: 2Q26 results: Adj. EPS of $0.42, above Bloomberg

(BBG) consensus of $0.36; Total revenues were -4% YoY to $48,296mn; Total adj. EBIT

of $2,503mn (BBG est. $2,152mn); and adj. FCF of $2,094mn. FY26 guidance: adj. EBIT

increased to $10.0bn to $11.0bn (BBG est. of $9.46bn) from $8.5bn to $10.5bn; adj. FCF

increased to $6.0bn to $7.0bn from $5.0bn to $6.0bn; and capital spending maintained

at $9.5bn to $10.5bn.

Sonic (SAH) reported 2Q26 earnings: Q2 adj. EPS of $1.82 slightly above BBG est. $1.77.

Total revenues +8% YoY to $3.93bn and record total gross profit of $616.2mn, up 2%

YoY. Franchised dealerships were mixed: same-store revenues were up 2%, but samestore gross profit declined 3%, reflecting lower same-store new and used vehicle GPUs,

partly offset by higher used vehicle unit volume. EchoPark retail used unit volume

increased 17% YoY, with revenues up 15% and gross profit up 4%, though adjusted

EBITDA declined 15% YoY to $13.9mn; Powersports revenue increased 53% YoY and

adjusted EBITDA improved to $4.9mn.

HY Auto Index 4bps wider in July

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