Additionally, the rapid adoption of our online instant appraisal offer positions us to become the largest online buyer of used autos from consumers. “Our omni-channel experience and Love Your Car Guarantee further enhance the most customer-centric offering on the market today.

“We are extremely proud of what we have accomplished this year and how the strategic changes we have made to our business position us for accelerated growth across retail, wholesale and CarMax Auto Finance,” said Bill Nash, president and chief executive officer. Signed a definitive agreement to acquire Edmunds, further strengthening our role and reach across the used auto ecosystem while adding exceptional technology and creative talent. Three-quarters of our customers advanced their transaction digitally, with approximately 25% of our customers eligible to buy a vehicle online independently.Ĭompleted nationwide rollout of online instant appraisal offer on, positioning us to become the largest online buyer of used autos from consumers and strengthening our leadership as the largest used auto buyer from consumers. Increase supported by the initial distribution of tax refund and stimulus checks, improved weather, and favorable customer response to digital enhancements and strategic initiatives.ĬarMax Auto Finance (CAF) income increased 68.2% due to the combined effects of favorable loan loss performance, higher net interest margin and an increase in average managed receivables. Robust used unit sales growth in March 2021 when compared with COVID-impacted March 2020 and a record March 2019. On a two-year stack, total used and comparable store unit sales were up 13.8% and 8.7%, respectively. Sales impacted by the delay in tax refunds and severe weather. Total used, comparable store unit, and wholesale unit sales were positive for the quarter when excluding the impact of calendar shifts. Total used unit sales and unit sales in comparable stores decreased 0.9% and 2.3%, respectively, and wholesale units decreased 1.2% when compared with the prior year quarter. Net earnings decreased 2.3% to $209.9 million and net earnings per diluted share decreased 2.3% to $1.27 compared with the prior year quarter. Net sales and operating revenues increased 4.1% to $5.16 billion when compared with the prior year fourth quarter.

(NYSE:KMX), the nation’s largest and most profitable retailer of used cars, today reported results for the fourth quarter and fiscal year ended February 28, 2021.įourth Quarter Highlights and Recent Developments:

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