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Inventories

12 Months Ended

Dec. 31, 2012

5. Inventories

Inventories consisted of the following:

	December 31,
	2012		2011
New vehicles	$	1,421,074	$	1,029,294
Used vehicles	484,760		428,589
Parts, accessories and other	85,333		77,503

Total inventories	$	1,991,167	$	1,535,386

The Company receives non-refundable credits from certain vehicle manufacturers that reduce cost of sales when the vehicles are sold. Such credits amounted to $31,322, $27,644, and $24,970 during the years ended December 31, 2012, 2011, and 2010, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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