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INVENTORIES | 9 Months Ended
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Sep. 30, 2024
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories consisted of the following:
| As of
| September 30, 2024 |  | December 31, 2023
| (In millions)
New vehicles | $ | 1,476.6 |  |  | $ | 1,252.5 |
Used vehicles | 405.7 |  |  | 373.1 |
Parts and accessories | 148.6 |  |  | 142.7 |
Total inventories, net (a) | $ | 2,030.8 |  |  | $ | 1,768.3 |
___________________________ (a) Inventories, net as of September 30, 2024 and December 31, 2023, excluded $47.9 million and $84.5 million classified as assets held for sale, respectively. The lower of cost and net realizable value reserves reduced total inventories by $9.4 million and $8.8 million as of September 30, 2024 and December 31, 2023, respectively. As of September 30, 2024 and December 31, 2023, certain automobile manufacturer incentives reduced new vehicle inventory cost by $10.9 million and $8.3 million, respectively, and reduced new vehicle cost of sales for the nine months ended September 30, 2024 and 2023 by $80.7 million and $68.9 million, respectively.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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