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Revenue Recognition (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Revenue Recognition    
Schedule of disaggregated revenue under ASC 606

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2021

 

    

 

    

Fleet

    

 

 

 

 

Vehicle Sales

 

Management

 

Total

Retail vehicle sales

 

$

50,383

 

$

 —

 

$

50,383

Wholesale vehicle sales

 

 

4,568

 

 

 —

 

 

4,568

Finance and insurance, net

 

 

1,554

 

 

 —

 

 

1,554

Lease income, net

 

 

 —

 

 

107

 

 

107

Total Revenues

 

$

56,505

 

$

107

 

$

56,612

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2020

 

    

 

    

Fleet

    

 

 

 

 

Vehicle Sales

 

Management

 

Total

Retail vehicle sales

 

$

21,042

 

$

 —

 

$

21,042

Wholesale vehicle sales

 

 

3,311

 

 

 —

 

 

3,311

Finance and insurance, net

 

 

892

 

 

 —

 

 

892

Lease income, net

 

 

 —

 

 

145

 

 

145

Total Revenues

 

$

25,245

 

$

145

 

$

25,390

 

 

 

 

 

 

 

 

 

 

 

 

 

2020

 

    

 

 

    

Fleet

    

 

 

 

 

Vehicle Sales

 

Management

 

Total

Retail vehicle sales

 

$

104,253

 

$

 —

 

$

104,253

Wholesale vehicle sales

 

 

9,984

 

 

 —

 

 

9,984

Finance and insurance, net

 

 

3,898

 

 

 —

 

 

3,898

Lease income, net

 

 

 —

 

 

490

 

 

490

Total Revenues

 

$

118,135

 

$

490

 

$

118,625

 

 

 

 

 

 

 

 

 

 

 

 

 

2019

 

    

 

 

    

Fleet

    

 

 

 

 

Vehicle Sales

 

Management

 

Total

Retail vehicle sales

 

$

90,382

 

$

 —

 

$

90,382

Wholesale vehicle sales

 

 

8,454

 

 

 —

 

 

8,454

Finance and insurance, net

 

 

3,117

 

 

 —

 

 

3,117

Lease income, net

 

 

 —

 

 

533

 

 

533

Total Revenues

 

$

101,953

 

$

533

 

$

102,486

 

 

 

 

 

 

 

 

 

 

 

 

 

2018

 

    

 

 

    

Fleet

    

 

 

 

 

Vehicle Sales

 

Management

 

Total

Retail vehicle sales

 

$

53,448

 

$

 —

 

$

53,448

Wholesale vehicle sales

 

 

3,153

 

 

 —

 

 

3,153

Finance and insurance, net

 

 

1,608

 

 

 —

 

 

1,608

Lease income, net

 

 

 —

 

 

142

 

 

142

Total Revenues

 

$

58,209

 

$

142

 

$

58,351

 

Schedule of revenues and cost of sales for retail and wholesale vehicle sales

The following table summarizes revenues and cost of sales for retail and wholesale vehicle sales for the three months ended March 31, 2021 and 2020:

 

 

 

 

 

 

 

 

 

    

2021

    

2020

Retail vehicles:

 

 

  

 

 

  

Retail vehicle sales

 

$

50,383

 

$

21,042

Retail vehicle cost of sales

 

 

48,917

 

 

19,555

Gross Profit – Retail Vehicles

 

$

1,466

 

$

1,487

Wholesale vehicles:

 

 

  

 

 

  

Wholesale vehicle sales

 

$

4,568

 

$

3,311

Wholesale vehicle cost of sales

 

 

5,687

 

 

3,363

Gross Profit – Wholesale Vehicles

 

$

(1,119)

 

$

(52)

 

 

 

 

 

 

 

 

 

 

 

 

    

2020

    

2019

    

2018

Retail vehicles:

 

 

  

 

 

  

 

 

  

Retail vehicle sales

 

$

104,253

 

$

90,382

 

$

53,448

Retail vehicle cost of sales

 

 

96,983

 

 

84,534

 

 

48,523

Gross Profit – Retail Vehicles

 

$

7,270

 

$

5,848

 

$

4,925

Wholesale vehicles:

 

 

 

 

 

  

 

 

  

Wholesale vehicle sales

 

$

9,984

 

$

8,454

 

$

3,153

Wholesale vehicle cost of sales

 

 

10,386

 

 

9,246

 

 

4,185

Gross Profit – Wholesale Vehicles

 

$

(402)

 

$

(792)

 

$

(1,032)