Bill Nash: Yeah, David, thank you for the question. So I think if you think about CarMax as a whole and the number of EVs we actually sell, it’s a very small percent. And I think probably last quarter, it was roughly on pure EVs around 1%, maybe a little bit more. And we’ve seen that number tick up a little bit. As you can imagine, there just hasn’t been a lot of EVs out there in the marketplace for you. Now, obviously, all the manufacturers are putting out more EV product. I do think, I mean, you point out a good thing on affordability. I think they have to become a little bit more affordable for the average consumer. But that being said just like we’re the retailer of used vehicles. We want to be the retailer, the largest retailer have used EVs. And so we’re preparing for that. While it’s a small percentage of our sales now, we think that, that will grow over time. And so we’re already taking steps to make sure that we can be prepared for that.
David Whiston: Okay. And just one thing on FBS. Can FBS customers loan eventually go into a CAFs securitization? Or does it have to stay with an external lending partner?
Enrique Mayor-Mora: No. CAF is one of the six lenders that are currently operating on FBS. And again, that’s the online shopping tool. So, yes, absolutely, all lenders — all of those lenders are participating in CAF loans. We’ll absolutely underwrite folks in FBS and it will go through our normal funding channels.
Bill Nash: Yeah. David, that’s the FBS is all the different lending partners. It’s a very unique product out in the marketplace because it’s not only CAF, but it’s our additional lending partners that have been with us forever. And at the end of the day, that’s what gets consumers, especially ones that are conscious about their monthly payment, it gets them the best rate.
David Whiston: Did you give an FBS penetration number?
Bill Nash: You mean as far as how many consumers are leveraging FBS?
Jon Daniels: Yeah. I think what we would say is of the people that apply for credit, 80% plus are starting online and leveraging our online platform.
Bill Nash: Yeah, and everybody can do an FBS experience. It just depends on how they want to shop.
David Whiston: Okay. Thank you.
Bill Nash: Thank you.
Operator: Thank you. We have no further questions at this time. I’d like to hand the call back to Bill for closing remarks.
Bill Nash: Great. Thank you. Well, thanks, everybody, for joining us and your questions and your support. As always, I want to thank our associates for what they do, taking care of each other and the customers. They are absolutely our differentiator. I also would like to remind everybody that’s on the call, we recently published our 2023 responsibility report, and I encourage everybody to listen to it. I mean read it, that’s listening today. It provides some great updates on some key initiatives, including climate-related and the tangible impact that we’re having on community. So again, we’re proud of the values that we’re living every day and I think we’re well positioned to drive long-term sustainable value for all of our shareholders. So again, thank you for your time today, and we’ll talk again next quarter.
Operator: Thank you, ladies and gentlemen. This does conclude the FY’24 Q1 CarMax Earnings Release Conference Call. You may now disconnect.
