v3.26.1
INVENTORY, NET
 6 Months Ended
Jun. 30, 2026
Inventory Disclosure [Abstract]  
INVENTORY, NET INVENTORY, NET
Inventory, net consisted of the following:

(in thousands)June 30, 2026December 31, 2025
Raw materials$43,073 $49,962 
Work in process2,890 1,341 
Finished goods1
5,275 6,793 
Total Inventory51,238 58,096 
Less: inventory reserves(13,063)(19,031)
Inventory, net$38,175 $39,065 
1 Finished goods inventory includes new vehicles available for sale.
We reserve for any excess or obsolete inventories or when we believe the net realizable value of inventories is less than the carrying value. As of June 30, 2026, and December 31, 2025, we carried inventory reserves of $13.1 million and $19.0 million, respectively. Inventory reserves have declined since year end primarily due to the disposal of obsolete inventory.