Latest Online Edition Read Here

The Used Car News Report: Carvana and Optimism Grow

CarMax Reports Higher Sales, Revenue

CarMax Reports Higher Sales, Revenue Featured

CarMax Inc. reported higher sales and revenue for the second quarter ended Aug. 31. Net sales and operating revenues increased 2.9 percent to $4 billion. Used unit sales in comparable stores increased 3.1 percent. Total used unit sales rose 7 percent. Total wholesale unit sales declined 1.3 percent. CarMax Auto Finance income declined 2.4 percent to $96 million.    
Read 6240 times Last modified on Wednesday, 21 September 2016 19:37
Rate this item
(0 votes)

Related items

  • CarMax Expands in Colorado
    CarMax, Inc. celebrated the grand opening of its 4th store location in the Denver area, located at 16500 W. Colfax Avenue in Golden, Colo. The Golden location has the capacity to stock approximately 200 used vehicles.In celebration of the Golden store opening, CarMax and The CarMax Foundation awarded $7,500 in donations and grants to the Jefferson County Boys & Girls Club. The donation for this organization came at the recommendation of the Golden CarMax associates.
  • CarMax Announces Bonuses
    CarMax, Inc. announced plans to provide one-time bonuses to most hourly and commissioned full- and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of 2017. Bonus amounts will vary from $200 up to $1,500 based on length of service with the company.About 80 percent of associates will receive the bonus, which will be distributed in March.
  • CarMax Opens New England Store
    CarMax Inc. celebrated the grand opening of its first store in New Hampshire, located at 300 Keller Street in Manchester. With the opening of this store, CarMax now has a total of 187 stores across 41 states nationwide. The Manchester location has the capacity to stock approximately 240 used vehicles of nearly every make and model and CarMax customers can also request transfers of almost any vehicle to this store from other CarMax locations throughout the country. In celebration of the Manchester store opening, CarMax and The CarMax Foundation awarded $7,500 in donations and grants to The Granite YMCA. Support for this organization came at the recommendation of the Manchester CarMax associates.
CarMax Announces Bonuses

CarMax Announces Bonuses

CarMax, Inc. announced plans to provide one-time bonuses to most hourly and commissioned full- and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of...

Dealers Use In-House CRM to Drive Sales

Dealers Use In-House CRM to Drive Sales

Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have...

  • CarMax Moves into New Market
    CarMax Moves into New Market CarMax Inc. celebrated the grand opening of its first store in Michigan, located in Kentwood at 4431 28th Street. The Kentwood store will have the capacity to stock approximately 200…
  • CarMax Opens Store in Northeast
    CarMax Opens Store in Northeast CarMax Inc. celebrated the grand opening of its new store in Albany, N.Y.The store is located at 1860 Central Ave. The Albany CarMax has the capacity to stock approximately 200…
  • DMS Incorporates Carfax
    DMS Incorporates Carfax Auto/Mate Dealership Systems has integrated its dealership management system with myCarfax Service Shop tools to help their dealer customers increase the success of their fixed operations. This enhancement makes it…
  • CarMax Grows in California
    CarMax Grows in California CarMax Inc. is currently hiring more than 40 associates for the company's third store in the Bay Area of California. The store, scheduled to open in November, will be located…
  • CarMax Reports Higher Sales, Revenue
    CarMax Reports Higher Sales, Revenue CarMax Inc. reported higher sales and revenue for the second quarter ended Aug. 31. Net sales and operating revenues increased 2.9 percent to $4 billion. Used unit sales in comparable…
  • TV Host Takes Cheap Shot at Dealers
    TV Host Takes Cheap Shot at Dealers The latest attack on subprime automobile dealers came in the form of HBO’s satirical news/comedy show “Last Week Tonight with John Oliver” on Aug. 14. The 17–minute segment slammed the…

    Auto Lending: Last Week Tonight with John Oliver (HBO)
  • Carvana Moves into Midwest
    Carvana Moves into Midwest Carvana announced its expansion into Columbus, Ohio. This launch marks the company’s first market in the Midwest region and first in the state of Ohio. Columbus marks Carvana’s seventh new…
  • America’s Car-Mart Moves Fewer Units
    America’s Car-Mart Moves Fewer Units America’s Car-Mart Inc. reported net income of $7.1 million in the quarter ended July 31.The buy-here, pay-here chain reported revenues of $146 million compared to $143 million for the prior…
  • Carvana Partners with Credit Union
    Carvana Partners with Credit Union Carvana has partnered with LGE Community Credit Union. Through the partnership, LGE members can browse Carvana's online inventory of vehicles and purchase a car and have it delivered to them…
  • Dealers Use In-House CRM to Drive Sales
    Dealers Use In-House CRM to Drive Sales Robert Beck, president, Stop ‘N Drive Motors, San Antonio, Texas: “We have one location and we opened up in 2005. “We usually stock about 40 to 50 cars. We have…