Note 3 - Inventories

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Inventory Disclosure [Text Block]

(3)

           

Inventories

The components of inventories consisted of the following (in thousands):

December 31,	2016		2015
New vehicles	$	1,338,110	$	1,113,613
Used vehicles		368,067		302,911
Parts and accessories		66,410		54,463
Total inventories	$	1,772,587	$	1,470,987

The new vehicle inventory cost is generally reduced by manufacturer holdbacks and incentives, while the related floor plan notes payable are reflective of the gross cost of the vehicle. As of

December

 

31,

2016

and

2015,

the carrying value of inventory had been reduced by

$18.1

million and

$13.6

million, respectively, for assistance received from manufacturers as discussed in Note

1.