CarMax profits rise 12 on higher used-vehicle volume
873
CarMax Inc.'s internet earnings increased 12% to $172.2 million in the fiscal second-quarter on higher used-car revenue, whilst the typical selling cost of utilized automobiles fell.
Gross income from sales as well as other operations through the three months that ended Aug. 31 increased 7.9% to $3.88 billion, the firm said Tuesday.
CarMax noted whole used-vehicle unit sales increased 9.2% to 156,516 automobiles in the second-quarter compared with the year-earlier quarter, while comparable-store used-car revenue increased 3.3%, down from a 4.2% year-over-year increase last year. The norm used car sold for $19,983 in the second-quarter, down 1.1% from 2014, the firm said.
CarMax CEO Tom Folliard mentioned "the continuing expansion of our store base and increase across our employed, wholesale and [CarMax Auto-Finance] operations" for the results.
The Richmond, Va., utilized-car power station started four shops in the second-quarter: 2 in Denver and one each in Providence, R.I., and Tallahassee, Fla. The Tallahassee shop is CarMax's first in the industry.
Gross income from CarMax Auto-Finance, the firm's vehicle lending service, increased 6.2% to $98.3 million.
It's possible for you to reach John Irwin at [email protected].
Labels:
Gains
CarMax
Marketing
Read SourceMore news from this source:
Go Motors Blog
Top 10 Best Chevrolet Models of All Time
9 Unique Ways to Customize Your Car
How to Find the Best Tow Truck Companies
7 Tips for How to Install Windshield Wipers
7 Driving Techniques and Other Tips for Fuel Efficiency
How to Diagnose Severe Car Problems (Even When You Don’t Know Anything About Cars)
5 Tips for Finding a Good Mechanic You Can Trust
The Most Valuable Parts on a Car to Scrap
6 Effective Maintenance Tips for Car Headlights
View All Recent Posts
New Photo Galleries
LATEST NEWS
more news
LATEST CAR REVIEWS