Operator: Our next question comes from Joe Altobello from Raymond James. Please go ahead. Your line is open.
Joe Altobello: Thanks. Hey guys, good morning. I guess, first, could you quantify the impact that the shutdown had on shipments and retail in the quarter, maybe how much of the decline – or the impact on retail from the discontinuation of Sportster?
Edel O’Sullivan: Thank you, Joe. Well, difficult to pinpoint with precision. As you can imagine, for those bikes that we had named, and last names for customers of those that were in highest demand like our anniversary models. It is an easier task to identify the impact of the production suspension. But overall, we know that it has led to some imbalance in the network in terms of where the inventory is difficult to pinpoint exactly for the broad assortment, but certainly one that we feel was a factor in the back half of June. And we continue, as Jochen mentioned, to work through how and what we bring back and what order and what priority to ensure that we have the right levels of inventory and that we are supporting retail growth in the back half of the year.
Operator: Our next question comes from James Hardiman from Citi. Please go ahead. Your line is open.
James Hardiman: Hi. Thanks for taking my call. I wanted to dig in to maybe that last point. You talked about the right level of inventory. Can you help us figure out what that right level of inventory is, whether it’s sort of total units or weeks on hand to finish the year. Obviously, you pointed out that inventory levels are down pretty substantially versus in 2019, but — so is retail relative to 2019 by a pretty similar amount. And I think the way that you had previously contextualize this was that you were way too high as we think about 2019 in terms of weeks on hand. So maybe any incremental color on how to think about where you finish the year. I can appreciate that it’s difficult, not really knowing where retail is going to shake out. But presumably, if retail is down, inventories would need to be down more, sort of, situation. So help us walk through that.
Edel O’Sullivan: Yeah. Thank you for the question. You’re right. We look at it through three different lenses. We look at total number of units, we look at days of coverage, and we look at it relative to historical trends as well as actual sales. Our estimations will indicate that we are, in fact, much lower in terms of inventory than in the decline in sales versus 2019. And this is very much in line with our strategy of being more prudent with our inventory and making sure that we are protecting desirability. We intend to continue to manage that balance towards the end of the year. The inventory levels overall fluctuate throughout the year. Of course, we want to have higher levels to support the riding season. But we continue to monitor that through those three lenses, total number of units as well as the days of coverage looking forward into 2024 as well as where we are versus historical levels.
As you indicate, that will be a balance that we will continue to manage through Q3 and into Q4. We intend to make sure that we are managing the production return to that desirability. But it is certainly something where we believe and intend to continue to remain on strategy in terms of a much lighter inventory load, even accounting for declining sales versus 2019.
Operator: Our next question comes from Tristan Thomas Martin from BMO Capital Markets. Please go ahead. Your line is open.
Tristan Thomas Martin: Good morning. I just had a question on promos. You introduced some promos in the quarter, the rate buy-downs, the zero money down and some of the trading credits. Is that kind of what we should expect moving forward? And then also what levers do you have to pull if let’s say, you want to use retail demand a little bit? Thanks.
