Bill Nash: Yes. So I think as far as comp trends quarter-to-date, I would look to similar to where we ended the quarter. I think on the inventory levels, look, I was really pleased the team has done a phenomenal job. As I said in my opening remarks, we actually took the total dollar amount down yet we increased our saleable and they’re doing a great job making sure that we’re getting cars through even with delays on parts that kind of thing. So we typically go down a little bit of inventory. And this month, this quarter, we actually — when you go from Q4 to Q1. And this year, we actually went up a little bit. So we feel good. We’re still — if I think about the traditional stores, we’re a little bit lighter than where we normally are, but I think that’s appropriate in this type of selling environment. So I think from an inventory standpoint, we’re in good shape.
Michael Montani: Okay. And then just a follow-up on the share components, understanding historically, it could be like a seven to nine month type of issue. But if that continues to persist, should we anticipate incremental investments, either from GPUs or potentially ad expense or headcount? Or do you think that basically that’s not necessary because it’s more industry demand dynamics that are driving it?
Bill Nash: Yeah. I feel good about where we are right now. Obviously, you’ve got to continue to monitor the competitive landscape. You’ve got to come in, continue to monitor price elasticity, especially when it comes to the GPUs. But as I said earlier, we’re working on efficiencies regardless of market share. But again, I would just reiterate that I feel good about the growth that we’re seeing so far. And I’m positive about the outlook in front of us.
Michael Montani: Okay. Thank you.
Bill Nash: Thank you.
Operator: Thank you. Our next question will come from Seth Basham with Wedbush Securities. Your line is open.
Seth Basham: Thanks a lot and good morning. My question is really around GPU and the better performance in retail GPU for the quarter. Can you give us a sense of how much of that was driven by market pricing dynamics relative to other internal factors?
Bill Nash: Yeah. What I would say is the — as far as our price elasticity test goes, it really hasn’t changed much, which is why we continue to see strong margins. We continue to have great self-sufficiency. We continue to have a mix of older vehicles, which are more profitable. All those certainly help. In my prepared remarks, I heard that I said that since the last quarter, we were talking about if you think about the full year, $2,100 to $2,200, we’re actually updating on that a little bit just to be between $2,200 and $2,300 more similar to last year, especially as you look at the second quarter. So again, I feel good about where we are. We’ll continue to measure the macro factors, but we do have some nice efficiencies that we’ve picked up that we’ve been able to take a little bit to the bottom line as well as continue to pass through the customer. So we feel great about our prices.
Seth Basham: And as a follow-up, do you think you can hit that $2 million unit sales both for fiscal ’26 with retail GPUs in that $2,100 to $2,200 normalized range?
Bill Nash: Yeah. As we said the last quarter, we’re going to stick by those long-term ranges. We’ll update it at the end of the year. A lot can happen in one year. But, yes, we’re not changing that guidance at this point.
Seth Basham: Fair enough. Thank you.
Bill Nash: Thanks, Seth.
Operator: All right. Thank you. Our next question will come from Rajat Gupta with JPMorgan. Your line is open.
