And at the end of the day, Chris, we look at our per unit economics, what we can drive in revenue for the car, how that, how long we use it and how it drops through to determine our overall success of that entity.
Chris Woronka: Great. Thanks guys.
Joe Ferraro: Thanks Chris.
Operator: Thank you. The next question is coming from John Healy of Northcoast Research. Please go ahead.
John Healy: Thank you. I want to ask you guys a little bit about fleet for the year. Your competitor kind of gave us some perspective of how they were thinking about fleet from just kind of a quarter-to-quarter and kind of year-over-year standpoint. We’d just love to get your perspective on how you’re thinking about the fleet size in Q1 relative to a year ago. And maybe as you look out to the summer, maybe what the kind of initial thought process is in terms of fleet commitments and what we might see and kind of the scenarios that you’re developing to kind of strategize for that?
Brian Choi: Yes, John, this is Brian. I’m going to start and then hand it over to Joe. I think we said in our prepared remarks that fleet costs are increasing this year. Vehicle interest is increasing this year. So we would rather have a tighter fleet going forward and our fleet plan in 2023 reflects that. We’re not trying to maximize the number of units we can absorb, as Joe said. I think from our perspective, what we’re trying to do is match our fleet to industry demand, and given that the costs to hold this fleet are higher this year, I think maximizing utilization and being very tight on that front is more important than ever. Let, me give it to Joe.
Joe Ferraro: Yes, thanks Brian. You know, I certainly agree with that. You know, and John, we made a concerted effort over the last two quarters to rotate our fleet out. It did a couple of things for us. One was it allowed us to exit higher mileage cars that, you know, come with a higher maintenance platform and we were able to do that in the third and the fourth quarter. The third quarter we sold more cars than we did in any other quarter prior to, if you exclude the pandemic year when we got rid of a lot of cars, and the fourth quarter was the best we’ve ever had in the fourth quarter. It was really designed to set ourselves up. Those six months were designed to set ourselves up for entry into January. We wanted to go into January with a fleet size that we thought was, would generate the demand and also generate utilization to give us the best possible outcome as we started the year up early.
I think as Brian said, we’re going to look very heavily at what our forecasted periods are including the peak obviously as we get closer. And I think what we did in the third and fourth quarter gives us the agility and nimbleness to take action. Should the peak develop bigger than we thought or should it not and then we could be at a place that’s probably a little best to jump off for if we had a lower fleet size. So I think you’ll see us look at that very critically. We have DFP, which I mentioned in my earlier remarks, that give us good forecasting insight, and we’ve been tracking both Leisure and Commercial trends for a long period of time that should help us develop our strategies.
