CarMax Results Plunge 28% In Third Quarter – People Can’t Afford A USED Car Any More

Used car retail giant CarMax reported their third quarter results and they’re providing some alarming insights into the used car market.

Most notably, sales fell significantly as the company reported a 20.8% decline in retail sales as well as a 36.7% decrease in wholesale sales.  The latter figure came despite a $165 price drop per unit and it seems even lower prices aren’t enticing wholesale buyers.

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