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view Scott helping business regard helping this opportunities CFO, fresh is Parker, identify our providing new improvement. a Our to in for and of by model
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the of in our impact both on and year and by details quarter change depreciation. residual accelerated page next estimates policy The
declining third negative As XXXX, most you impacts significant of the in thereafter. can in see, quarter is the quarter each with impact
total in in this $XXX depreciation policy $XX of change would view view updated our near-term residuals. practice. or years additional residuals XXXX estimation accelerated this have historical our depreciation million quarter. recognition of impact our XXXX under A recognized that long-term XXXX and $XXX of been million reflecting and million later This updated of Overall, results includes in was earlier depreciation in of reflecting depreciation of taken
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provide Let examples. few you me a
lease pricing actions returns. First, we've to taken improve
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XX portfolio are recent anticipated lease to years. into is over because already the expectations over we've This insights Page expected pricing provides portfolio higher our the for time. in turns more into model performance improving taken actions returns manifest as
XXXX level target are two now result for prior signed to to Leases our returns expected below reasons. in
to years negatively anticipated. technology impacted be First, post-XXXX been model out the the early turned maintenance than of on costs emissions they've by then higher
in come negative a are these largely The now market by they majority Second, these off as XXXX impact sold down account projected. now as depreciation end at below these vehicles the for the P&L of levels. be accelerated expected of to vehicles will price lease vintages
at we expected and positive maintenance are years These Leases several to pricing better-than-priced are costs in yield to related benefiting XXXX from or XXXX target. since costs returns maintenance signed seeing between we're results above and ago our area. raised that leases
levels. expected after above XXXX are target our to signed returns see Leases
performance performance, In cost addition purposes. reduced overall pricing maintenance leases from residual also assumptions to for better-than-priced and used better these benefiting are value
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number In capacity new This vehicle on initiatives into we're XX. expanding to expanding Page as to our We're includes addition retail team. to capital, maximize shown inside price. return driving retail improve sales these actions, network our and lease order used a expanding -- other increasing locations pricing on sales our of in
later enhancing we're vehicle used this upgraded launching the we're which and capabilities year, year, sales -- transaction launching user this its facilitating website, a upgraded an will includes an expand experience. Additionally, and
this on ahead new on that exploring or of market cost cost to plan ahead options earlier to initiatives update savings most risk, significant -- encouraged value and is ahead our I'm also $XX million share capital of we're structural initiatives multi-year pleased remain $XX had total core projected that the benefit focused maintenance utilization our of announced structure our to cost these are the and by exceed tracking are plan. expect that original for we savings We're expectation. of million We residual we year. annual savings our of of that on initiative partnerships are XXXX you -- and alternatives. The
our this on savings cost budgeting The Additionally, the to team savings looking supply focused dedicated return future we're and in with We're accelerate higher-return growth businesses. and to zero-based track pruning for time. chain years. accounts anticipate in opportunities lower-return and higher additional capital on over also on year assets drive is
quarter to Scott for call of recap results. a our the turn third over now condensed I'll XXXX
