Danny Wieland

“On the straight-off of volume versus GPU, we were essentially flat in new volume from 2Q to 3Q, and if you take out the 2,200 incremental EVs we sold last year, we were actually up year-over-year on a same-store basis, ex-EV.”

“You know, as Heath added, it's about a $1,200 better GPU on those vehicles, but it also gives us upside to grow that volume without being dependent or at risk of pricing on the wholesale auction front.”

“So you can look at that as accelerating in 27 and beyond as we get the benefits of the brand investment and increase our store base. So that'll help drive both the volume-based growth that we're projecting as well as well as some EBITDA leverage in 27 and beyond.”

“I mean that's a 54% volume increase from Q2 to Q3, which is in line with what the industry saw from an EV penetration. But as you think about that, we sold 3,600 EVs in the third quarter, and we would expect that volume to be much lower in the fourth quarter now that the federal tax credit is not available.”

“If you look at the trend in SG&A at EchoPark, despite the fact that we saw that sequential step down in volume, the SG&A actually levered about 110 basis points from Q1 to Q2.”