Carmax Sales Swing, Asking the Real EV Questions, Keeping It Moving

Shoot us a Text.

This Wednesday we dig into the Carmax Q4 shareholder report…and there is a lot to unpack. We also ask some real questions about EV rollouts and talk through how to prepare to respond. Everything is in a state of motion and we’re going to do what we can to ensure the ASOTU community is a step ahead. 

• Carmax Pre Owned Sales Drops 5.2% in its Fiscal Q4
  • Sold fewer units citing affordability issues
  • Sales revenue increased by 33% due to higher average retail price
  • “Bought approximately 324,000 vehicles from consumers, a 69.0% increase versus the prior year quarter. Approximately 162,000 of these vehicles were purchased through our nationwide online instant appraisal offerings. For the fiscal year, approximately 1,412,000 vehicles were bought from consumers, a 95.5% increase versus the prior year, including 707,000 units purchased through our nationwide online instant appraisal offerings.
  • Total revenue up 49% - Total earnings slipped 28%
• Asking the questions about EVs:
  • What will the margin structure look like? 
  • What level of additional training will be required
  • Will sales comp plans bump into each other EV - ICE? 
  • What are the real opportunities?
• Leadership Principle: If you aren’t moving, you’re losing
  • Everything else is in a state of motion and change
  • If you are sitting still, you are losing ground

Get the ASOTU Daily Push Back email at https://www.asotu.com/

Listen to other episodes: https://www.asotu.com/media/podcasts

Read the most recent Daily Push Back email at: https://www.asotu.com/media/push-back-email

Share positive dealer stories: https://www.asotu.com/positivity

------------------------------------------------------------------ 

For all Things ASOTU Check out our Socials 

Website: https://www.asotu.com/ 

Instagram: https://www.instagram.com/automotivestateoftheunion/ 

Twitter: https://twitter.com/asotu_ 

Tik Tok: https://www.tiktok.com/@ASOTU 

FaceBook: https://www.facebook.com/automotivestateoftheunion 

Pinterest: https://www.pinterest.com/automotivestateoftheunion/_created/ 

Linkedin: https://www.linkedin.com/company/asotu/ 

Join Paul J Daly and Kyle Mountsier every morning for the Automotive State of the Union podcast as they connect the dots across car dealerships, retail trends, emerging tech like AI, and cultural shifts—bringing clarity, speed, and people-first insight to automotive leaders navigating a rapidly changing industry.

Get the Daily Push Back email at https://www.asotu.com/

JOIN the conversation on LinkedIn at: https://www.linkedin.com/company/asotu/