New car unit sales increased 6.9% and used unit sales increased 2.3%, with lower pricing year over year (down 4.9% for both new and used) offsetting most of this increase. The increase in new unit sales is being driven by increasing inventory levels while used supply is still difficult to source at attractive prices in the wholesale market. New vehicle gross profit per unit continues to normalize at slightly more than $100 per month. This normalization in new vehicle margins is consistent with our expectations, but the pace of the decline has accelerated somewhat compared with our previous forecast. Consequently, we forecast S&P Global Ratings-adjusted EBITDA margins to fall to 5.6% in fiscal 2024 and 5.4% in 2025. Notably, these
