Sean Wagner: Okay, and I guess the follow up on that, obviously, you’ve spoken about momentum, and utility being a main driver for 2024. New products as well, your biggest competitor, I guess has also identified those same two drivers, particularly sort of increased shipments from them, due to sort of their supply chain issues improving. I mean, is there room for both of those to happen? Or is it just a matter of you have confidence in your business and your products and the execution that you’ve had and that we’ll see how it shakes out from there.
Jose Boisjoli : I mean, it’s our confidence in our execution. Last year, we were quite aggressive to run production at higher rates with the producing unit with missing part that we either retrofit ourselves for the dealer or retrofitting it. And I think it gave us a head start versus our competition. And this combined and this is mainly one reason why we gained so much hair last year for all our product lines. Now we continue on this, in the sense that now supply chain is stabilizing, but we have the production capacity. And again, we have very competitive lineups very innovative competitive lineup, and we have the dealer momentum. Then when you put all this together, we’re confident that we can continue to grow.
Sean Wagner: Okay, can you can you quickly remind us sort of what level of market share you would need to take with that expanded production capacity to be margin neutral, given a higher overhead?
Sebastien Martel : Well, it’s obviously as you saw, in the margin bridge that I gave on the call, our expectation is the FTS volume is going to increase we’re going to see a positive coming from pricing, we’re going to see a positive coming from reduction in tournaments. We are going to invest in sales program this year. And so we are planning to be about up 50 basis points on gross margin and also higher investments in OpEx by 50 basis points. So from an EBITDA down margin point of view, neutral. Yes, we are expanding the plans from these costs are absorbed with the additional volume that we’ll be producing.
Sean Wagner: Okay, thank you very much.
Sebastien Martel : Thank you, Sean.
Operator: Hey, yeah, next question comes from Martin Landry from Stifel GMP. Please go ahead.
Martin Landry : Hi, good morning. My first question is on the on the industry and your guidance. It looks like from what I read on your slides, the North American powersports industry was down low-single digits in 2022 in North America. And I think in your guidance, you expect stable industry growth in ’23. So am I reading this correctly, that you’re expecting some sort of an improvement year-over-year in the industry in North America this year?
Sebastien Martel : No, what we said, Martin in the prepared remarks was a flat industry and flat industry was actually so flat year-over-year and that would be down versus pre-COVID, down single digit. So flat industry is the assumption.
Martin Landry : Okay. And I know it’s a tough question to answer. But what gives you a confidence that given the macroeconomic environment that we’re not going to see the industry decline this year?
Jose Boisjoli : Yeah. First, if you look at the new the dynamic, I mean, you see the demand as I just answered to their first question about the consumer demand, but also give you some other data. The new entrant is still about 40% up versus pre-COVID, 70% of those people are saying that they are there to stay into the industry. And those customer are more wealthy, healthy. Basically the household income of our customers is 30%-35% higher than they were pre-COVID. This is an incredible number. And on top when you look at our — that we are more high end and entry level. And when we look at our customers, a third of the population in U.S. earn household income below $100,000. And our customers two third or above that’s $100,000. Then new customer higher household income. And we are more high-end obviously than low end than some of our competitor. And I think we are well positioning to the industry to continue to grow.
