CarMax reports Q4 comparable store used unit sales increased 0.1%

Retail used unit sales increased 1.3% and comparable store used unit sales increased 0.1% from the prior year’s fourth quarter; wholesale units declined 4.0% from the prior year’s fourth quarter. Delivered solid margins in retail and wholesale; gross profit per retail used unit of $2,251 and gross profit per wholesale unit of $1,120, both down slightly from last year’s historically strong fourth quarter. Bought 234,000 vehicles from consumers and dealers, down 10.8% versus last year’s fourth quarter, which benefited from strong appreciation. 213,000 of these vehicles were purchased from consumers, down 14.1% over last year’s fourth quarter. 21,000 of these vehicles were purchased through dealers, up 44.8% from last year’s fourth quarter.