CarMax Q2 Profit and Revenue Rise on Pricing Strategy

CarMax reported a 20% increase in net revenue to $7.9 billion and a rise in quarterly profit to $165.3 million for the second quarter ended August 31. The used-car retailer boosted sales by 13.8% to 227,391 vehicles despite challenges like higher interest rates and a shortage of cheaper vehicles. CarMax offset pressures by prioritizing volume over profit per vehicle, with retail gross profit per vehicle falling slightly to $2,105.

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