CarMax Second Quarter Earnings Call
This represents slower growth than the firm has seen in its most recent several quarters. The macro economic environment has clearly affected sales in the new car market, which are now projected to be the lowest run rate in nine years. The management believes that this has had a negative impact on the used car market as well, but the data indicates that the firm continues to take market share through the first half of the year.
Total used unit sales grew by 11% for the second quarter, somewhat lower than the growth of 15% in last year’s second quarter, due to our lower comp sales.