George Chamoun: Yes, definitely, Chris. We — it’s a new opportunity. The nice thing is it historically, it’s been very low, like I think, a few hundred units a month, right? So this is all in a way, not new for us to grow into the sector. The nice thing when you look at the broad commercial TAM that I’ve mentioned to you all some commercial need land, some commercial doesn’t as we scale. Rental would be an example where we can gain units across the country, even where we don’t have land. We’re — so that’s one of the nice elements of the rental. Now the defleeting is still very low. So it’s nice to see it starting to go up. I think really high level. I’m going to give you exact numbers. We’ll go from a few hundred units a month, a few thousand, and then they’ll become more and more substantial over time.
But yes, the answer to the simple question is that part of the ecosystem is starting to come back. And when I think about the industry coming back to normalcy, not now in 2026, that’s one example of a part of the industry that’s starting to turn in the right direction, so low, very low, very, very low compared to historical de-fleeting and wholesale volumes, but showing some positive signs.
Christopher Pierce: Okay. And then just lastly, you guys talked about revamping MAX Digital on putting it back out there early next year. I’m just kind of curious, what is the product — what a dealer you see it for? And what are you kind of intending or what are you hoping to use the core going forward? Is it just pricing data? Or is there more to within kind of dumbing it down that much? .
George Chamoun: I’ll try to say this in a way where it does not make a press release or news article because that’s supposed to not happen until January or February. But I’ll still try to probably drill a little color, okay? If you connect the dots here, so the MAX Digital that we acquired and inherited help dealers price inventory, both trades and sort of how they’re going to price the trade and how they’re going to price their retail inventory at a really high level. I also do some merchandising like it does merchandising around imaging and helps dealers put the right photos on the Internet, areas like that. . We are in the process of taking the ACV assets. So think things like self-inspection and some of the things you’ve heard us talk about, which help understand condition of a vehicle and how that relates to pricing.
And yes, our objective is — think about like NADA is kind of like our Super Bowl event every year. And we’re hoping to get what we’re done. The reason I keep saying end of this year, early next year is because we want to show up an ADA with sort of this refresh project. It’s sort of our own force time line to have a little fun here and come out with this fresh view of this product and how it’s going to help dealers leverage a broader ACV data set. that allows them to do their own self-inspection in a way, understand the value of these assets do a little bit more. So yes, I think it’s all a teaser for today. I think can give you a little bit more than I did at Analyst Day. and more to come between now and early next year.
Operator: Our next question comes from the line of Ronald Josey with Citi.
Ronald Josey: Can you hear me okay?
George Chamoun: Yes, certainly, Ron. .
