Explain the difference between model year, calendar year and financial year.
■Model Year
The model year (MY) is mainly the manufacturing year of a car in the United States, and the model year is from September 1st to August 31st of the following year.
For example, a 24MY car is a car manufactured from September 1, 2023 to August 31, 2024.
■Calendar Year
The calendar year (CY) is from January 1st to December 31st.
■Fiscal year
The period of the fiscal year (FY) is from October 1 to September 30 for the U.S. federal government, from July 1 to June 30 for most states, and from January 1 to December 31 for corporate and personal.