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Inventories

9 Months Ended

Sep. 30, 2013

2. Inventories

Inventories consisted of the following:

	September 30,		December 31,
	2013		2012
New vehicles	$	1,497,648	$	1,429,250
Used vehicles	582,695		484,269
Commercial vehicles	121,575		—
Parts, accessories and other	91,472		86,687

Total inventories	$	2,293,390	$	2,000,206

We receive credits from certain vehicle manufacturers that reduce cost of sales when the vehicles are sold. Such credits amounted to $26,445 and $23,085 during the nine months ended September 30, 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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