Categories: Automobile

CarMax sales fall, but it holds onto per-vehicle profit

[ad_1]

One year ago, 70 percent of CarMax’s inventory was priced below $25,000. Fast-forward to today, and “it’s more like 43 to 45 percent, and that’s really a result of inflationary pressures,” Nash said.

Older vehicles — 6 years old or with 60,000-plus miles — captured more consumer interest in the quarter, Nash said.

“Typically that type of inventory [represents] in a given year 20 to 25 percent of our sales,” Nash said. “For this quarter, it was more like 35 percent of our sales.”

In the second half of 2021, CarMax spent less on per-vehicle marketing because demand was so strong. That ended up changing in the first quarter, Mayor-Mora said. CarMax’s selling, general and administrative expenses grew 19 percent to $657 million, in part because of an increase in per-vehicle marketing, staffing costs and growth costs.

[ad_2]
Source link
Admin

Recent Posts

Super Slot Games Review

Super slots provide the pinnacle of casino gaming with their interactive bonus rounds, captivating graphics,…

4 months ago

The Evolution and Impact of  Nanomedicine

Introduction to Nanomedicine Nanomedicine, a subfield of nanotechnology, involves the application of nanoscale materials and…

4 months ago

Chumba Online Casino Review

Chumba Casino provides an extraordinary online gaming experience. Its sweepstakes model allows players to win…

5 months ago

How to Find the Best Online Casinos to Play For Free

Online casinos provide quick, simple, and highly convenient gambling experiences for their players. Offering a…

5 months ago

How to Achieve a Flawless Complexion with the Right Products

Achieving a flawless complexion is a common skincare goal. With the right face care products, you can enhance…

5 months ago

Creating Ideal Matches: The Mutual Selection of Clients and Businesses

Shared values and goals, transparency, understanding each other's needs, communication, and respecting boundaries are vital…

5 months ago