Cost ManagementSelling, general and administrative expenses declined by 3% year-over-year as ERP investments and other cost-saving initiatives take hold.
Deal StructureDeal structure improved with an increase in down payment percentage by 140 basis points quarter-over-quarter and 40 basis points year-over-year to 6.5%, despite average selling prices remaining high.
Financial PerformanceGross margins improved by around 200 basis points year-over-year as management continues to integrate CRMT into the Cox Automotive procurement partnership.