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DETROIT >> U.S. sales of new cars and trucks tailed off in February as automakers eased up on discounts.
Sales fell 2 percent from February 2017 to 1.3 million, according to Autodata Corp. Among major automakers only Toyota, Subaru and Volkswagen reported sales gains over February 2017.
Ford’s U.S. sales chief Mark LaNeve said automakers spent an average of $65 less per vehicle on incentives in February compared with the same month last year. That’s a stark contrast from 2017, when incentive spending often climbed $300 or $400 per month.
LaNeve said discounts could grow during the spring and summer, when tax returns arrive and more people shop for vehicles. But based on the first two months of this year, he expects automakers to remain fairly disciplined. In the past, heavy discounting has led to overproduction and steep declines in automakers’ profits.
ON THE MOVE
Bank of Hawaii has announced the following new promotions:
>> Ken Niimura is the new senior vice president and international private banking manager in The Private Bank at Bank of Hawaii. He previously served as a vice president at Bank of Hawaii. Prior to joining the bank in 2015, Niimura was a vice president and assistant manager of the international banking department at Central Pacific Bank as well as president for Obun Hawaii Inc. and chief marketing officer for HI&U Inc. and The Pacific Bridge Cos.
>> Wesley Kurakake has been promoted to vice president and manager of network administration from IT manager at Bank of Hawaii. He joined the bank in 2011 and served as a network engineer and a senior network engineer in 2016. Prior to joining Bank of Hawaii, Kurakake worked in similar positions at Aloha Airlines and Network 2000.