Kern said vehicle gross margins and gross profit per unit were impacted by strategic clearing of aged inventory beginning in December, and he expects that margin pressure to persist in the first half of 2026. The company posted a fourth-quarter adjusted EBITDA loss of $26.2 million, compared with a loss of $2.5 million in the prior-year quarter. Kern attributed the shortfall versus expectations primarily to the December hit to vehicle margins from accelerated inventory cleansing, along with dealer insurance ...