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INVENTORIES
12 Months Ended
Dec. 31, 2023
Inventory Disclosure [Abstract]  
INVENTORIES INVENTORIES
Inventories consisted of the following:
As of December 31,
 20232022
 (In millions)
New vehicles$1,252.5 $527.7 
Used vehicles373.1 304.4 
Parts and accessories142.7 127.2 
Total inventories, net (a)$1,768.3 $959.2 
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(a) Inventories, net as of December 31, 2023 and December 31, 2022, excluded $84.5 million and $3.4 million classified as assets held for sale, respectively.
The lower of cost and net realizable value reserves reduced total inventory cost by $8.8 million and $10.7 million, respectively as of December 31, 2023 and December 31, 2022. As of December 31, 2023 and December 31, 2022, certain automobile manufacturer incentives reduced new vehicle inventory cost by $8.3 million and $2.7 million, respectively, and reduced new vehicle cost of sales for the year ended December 31, 2023, 2022, and 2021 by $94.1 million, $91.5 million, and $60.4 million, respectively.