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Inventories

3 Months Ended

Mar. 31, 2012

NOTE 5– INVENTORIES

Inventories at March 31, 2012 and December 31, 2011 are summarized as follows (in thousands):


	March 31, 2012			December 31, 2011

Advanced technology vehicles	$	709		$	713
Vehicles-conventional		4,714			4,630
WIP Jonway SUV's		2,327			2,234
Parts and supplies		5,063			4,879
Finished goods		198			240
		13,011			12,696
Less-inventory reserve		(1,671	)		(1,578	)
	$	11,340		$	11,118

- 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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