CarMax CEO expects average selling prices to ‘continue to fall’

Asked if he is "still confident" that the company’s GPU targets are achievable in a scenario where hypothetically average selling prices, or ASPs, fall another 5% to 10% over the next couple of quarters, CarMax CEO William Nash replied: "Yes. Look, I think we feel very comfortable where we’re running the retail GPUs. We’ll continue to monitor the test. But look, I expect ASPs to continue to fall, which I think overall for the industry is a good thing to help drive some gap between new and late-model use. So we feel comfortable with where our GPUs are and we’ll continue to test."