Michael Happe: Tristan, we are having productive conversations with most of our key suppliers about the need for them to pass on the reductions they are seeing in cost on their raw materials or from their suppliers to us. And in many cases, that is happening. In some situations, we have an index-based relationship with certain suppliers that just follows the curve of those indexes. But we are having good productive conversations with our larger suppliers on cost management. I would say where those discussions are the most challenging and where we continue to see headwinds concerning cost is in the motorized chassis category. Those suppliers are a little less agile in changing cost and in some cases, are still experiencing some cost increases that they are needing to pass on to OEMs like us. So net, we are getting good responses from our suppliers on continuing to manage, in some cases, lower the cost of our bill of materials.
Tristan Thomas-Martin: Got it. Thank you.
Operator: Thank you. Our next question comes from Fred Wightman with Wolfe Research. Your line is open.
Fred Wightman: Hey guys. Good morning. I wanted to come back to the Grand Design Motorized launch. I mean if we just go back to when you guys acquired that brand back in 2016, you have seen a meaningful increase in sort of the consolidated market share stats for the company. And you have also talked about getting to something over 20% longer term. So, can you just frame sort of what you think the aspiration or contribution from that could be from a market share perspective or how you are sizing the potential contribution down the road?
Michael Happe: Fred, today, between our two existing brands, Winnebago and Newmar, we run somewhere between, and it varies by quarter and by year, but we have run somewhere between 18% to 20% total market share in the Motorized segment between those two brands. We absolutely believe that the addition of Grand Design Motorized into our business strategy will be net incremental to that market share. I am not going to share a specific target at this time. But we would not be funding from a capital standpoint, the investment in this business strategy if it didn’t, a, have a standalone ROI that was projected to be positive. But b, it was meaningfully accretive to our overall share. We have been very intentional with internal conversations about minimizing cannibalization of our existing motorized revenue and share to the best of our ability as the Grand Design team rolls out this lineup over the course of the next several years.
And this will be a graduated rollout of product over probably the next 2 years to 3 years beginning in probably our fourth quarter of fiscal ‘24. So, we anticipate that this will be – that, that target will be 20% plus. And I guess as we are ready to unveil some further details, we can potentially get more specific on what those aspirations are. But just know that for us, it has to be and will be incremental. And that will mean that the product will be important from a differentiation standpoint. But the way we attack the market from a dealer standpoint will also be important. We will be crafting a new Grand Design Motorhome dealer network that will consist of some of our existing Grand Design Towables dealers, but it will potentially consist of some dealers who do not carry the Grand Design Towables line today.
And some of these dealers may or may not carry some of our existing motorized brands, Winnebago or Newmar. So, more details to come.
Fred Wightman: That’s helpful. And then, Mike, in the past you have given some high-level commentary on industry retail and sort of the wholesale outlook. So, I didn’t hear that in your prepared remarks today. Is there anything that you could sort of share there or maybe why you decided to stop commenting on that, if that’s the case?
