INVENTORIES

Inventories consist of the following:



	As of
	September 30,		December 31,
	2011		2010
	(In millions)
New vehicles	$	330.7	$	436.1
Used vehicles	88.9		74.8
Parts and accessories	37.5		36.5
Total inventories	$	457.1	$	547.4

The lower of cost or market reserves reduced total inventory cost by $5.1 million and $4.6 million as of September 30, 2011 and December 31, 2010, respectively. In addition to the inventories shown above, we had $2.2 million and $31.3 million of inventory as of September 30, 2011 and December 31, 2010, respectively, classified as Assets Held for Sale on the accompanying Condensed Consolidated Balance Sheets as they are associated with franchises held for sale. As of September 30, 2011 and December 31, 2010, certain automobile manufacturer incentives reduced new vehicle inventory cost by $3.7 million and $5.1 million, respectively, and reduced new vehicle cost of sales from continuing operations for the nine months ended September 30, 2011 and September 30, 2010 by $15.3 million and $14.3 million, respectively.