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Inventories

3 Months Ended

Mar. 31, 2013

2. Inventories

Inventories consisted of the following:

	March 31,		December 31,
	2013		2012
New vehicles	$	1,430,247	$	1,421,074
Used vehicles	511,938		484,760
Parts, accessories and other	81,344		85,333

Total inventories	$	2,023,529	$	1,991,167

We receive credits from certain vehicle manufacturers that reduce cost of sales when the vehicles are sold. Such credits amounted to $8,339 and $5,265 during the three months ended March 31, 2013 and 2012, 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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