Final 12 months, used-car retailers were on a roll, fueled by new-vehicle shortages, low rates of interest and a powerful client. Are they beginning to run out of gasoline?
Not fairly but. CarMax the biggest such retailer within the U.S., reported on Friday that its whole income grew 21% within the quarter ended Could 31 in contrast with a 12 months earlier—greater than the 18% improve analysts polled by Seen Alpha have been anticipating. Internet earnings was largely consistent with expectations. Its shares rose 7% in noon buying and selling.