Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies

Commitments and Contingencies
3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

9. Commitments and Contingencies


Repurchase Obligations


Under certain conditions, the Company is obligated to repurchase new inventory repossessed from dealerships by financial institutions that provide credit to the Company’s dealers. The maximum obligation of the Company under such floor plan agreements totaled approximately $5,361,000 and $4,273,258 as of March 31, 2022, and December 31, 2021, respectively. The Company incurred no impact from repurchase events during the three months ended March 31, 2022 and year ended December 31, 2021.




The Company is currently involved in various civil litigation in the normal course of business none of which is considered material.