Financial Data and Key Metrics Changes - In the fourth quarter, net sales were 160million,adecreaseof38 million or 19% compared to the same period in 2023, aligning with planned lower volumes [25] - New unit sales declined by 7% or approximately 92 units, while the average selling price for new units grew by 3% [24] - Pre-owned retail unit sales, including consigned vehicles, were down 23% or 268 units during the quarter [25] - SG&A expenses increased to 53millionforthequarterfrom46 million in the prior year, primarily due to higher transaction and legal expenses related to restructuring [26] - Adjusted EBITDA loss was 24millioncomparedtoalossof11 million in the prior year period [27] Business Line Data and Key Metrics Changes - On a same-store basis, there was a decline in both new and used unit volume, partially offset by improved gross profit per unit sold [15] - Total gross margin was 19% in the fourth quarter compared to 21% in the third quarter of 2024; excluding inventory and LIFO adjustments, gross margin was 23% [16] - Finance and Insurance (F&I) revenue was over 6,000perunit,up330 million common equity investment and the exchange of convertible preferred stock for common stock [7] - The company reduced floor plan debt by 11millionandtermloandebtby6 million during the quarter [27] Q&A Session Summary - No questions were fielded following the prepared remarks, and the call concluded without a Q&A session [5][30]
