Carmax Stock Price, News & Analysis

CarMax (NYSE:KMX), the nation's largest used car retailer, has unveiled a new brand positioning and tagline "Wanna Drive?" replacing its 20-year-old slogan. The initiative showcases CarMax's omni-channel experience, allowing customers to seamlessly shop online, in-store, or switch between both.

The company is launching a creative campaign featuring the CarMax House Band, with spots across TV, streaming, social, digital, and audio platforms. The campaign emphasizes customer empowerment and control in the car-buying journey. CarMax reports its highest-ever Net Promoter Score since rolling out nationwide digital capabilities, driven by record-high satisfaction among online and hybrid shoppers.

With over 250 stores nationwide and 50,000+ cars in inventory, CarMax offers features like express pickup, home delivery within 60 miles of select stores, and a two-minute online car buying offer valid for seven days.

CarMax (KMX) reported strong Q1 FY2026 results with net earnings per share rising 42.3% to $1.38. The company saw retail used unit sales increase 9.0% and comparable store sales grow 8.1%. Total gross profit jumped 12.8% to $893.6M, with record-high gross profit per retail unit of $2,407. The company purchased 336,000 vehicles, up 7.2% YoY. While CarMax Auto Finance income decreased 3.6% to $141.7M due to increased loan loss provisions, the company expanded its non-prime funding program. Digital capabilities supported 80% of retail sales, with omni sales at 66%. The company actively returned value to shareholders, repurchasing $199.8M in shares during Q1.

CarMax has announced strategic initiatives to enhance the used electric vehicle (EV) buying experience. The company has partnered with Recurrent to provide battery health assessments and with Treehouse to offer a $200 credit for home charger installations. CarMax launched an EV Hub as an educational resource and added badges on CarMax.com to identify vehicles eligible for federal used EV tax credits up to $4,000. The company's 250 stores nationwide will provide information about Level 2 home charger installation through Treehouse. CarMax has also invested in both Recurrent and Treehouse, demonstrating its commitment to the EV market. The initiatives include battery range scoring, detailed vehicle reports, and comprehensive online resources including Edmunds' EV testing methodologies and cost estimates.

CarMax (NYSE:KMX) has announced its upcoming first quarter financial results conference call scheduled for June 20, 2025, before market open. The call, featuring CEO Bill Nash, CFO Enrique Mayor-Mora, and CarMax Auto Finance EVP Jon Daniels, will begin at 9:00 a.m. ET. Additionally, the company will hold its 2025 Annual Meeting of Shareholders virtually on June 24, 2025, at 1:00 p.m. ET.

As the nation's largest used auto retailer, CarMax sold approximately 790,000 used vehicles and 540,000 wholesale vehicles during fiscal 2025. CarMax Auto Finance originated over $8 billion in receivables, contributing to its nearly $18 billion portfolio. The company operates 250 store locations and employs over 30,000 associates.

CarMax (NYSE: KMX) has renewed its front-of-jersey sponsorship with Richmond Ivy Soccer Club for the 2025 season. The team unveiled their new 'Woven Together Kits' featuring custom designs in Midnight and Mint colorways, manufactured by hummel Pro North America. The announcement highlights CarMax's commitment to community involvement, including sponsorships of various Richmond sports teams and the naming rights for CarMax Park, set to open in 2026.

The new kits showcase intricate designs symbolizing community interconnectedness, with the primary jersey featuring a Midnight base with dark green leaves and mint accents, while the secondary kit displays a mint green base with climbing ivy motifs. The jerseys will debut at the team's season opener on May 10, 2025, against Virginia Beach United at City Stadium.

CarMax (NYSE: KMX) and Gotham FC have extended their multi-year marquee partnership, with CarMax remaining as the front-of-kit sponsor for the women's soccer club. The partnership, which began in 2022, includes CarMax's role as presenting partner for the regular season, Fan Fest, and regional game broadcasts.

The collaboration has yielded significant results, including:

• 27% increase in Gotham's social media following
• 67% rise in average home game attendance
• Doubling of season ticket holders since 2023
• 36 percentage points growth in unaided partnership awareness for CarMax

As part of the 2026 partnership expansion, CarMax will invest in new digital content, parking incentives, and community programs including free-to-play youth soccer clinics. The CarMax Kids program has already served over 530 young people with free tickets and transportation to games, now adding complimentary meal vouchers.

CarMax (NYSE: KMX) has released new data showing significant shifts in used electric vehicle (EV) shopping trends. Monthly EV-filtered searches on carmax.com have nearly doubled from January 2022 to February 2025, while average used EV prices dropped by over 40% compared to a 12% decrease for non-EVs.

Key findings from September 2024 to February 2025 reveal that Tesla Model 3 and Model Y remain the top-selling used EVs, while Ford F-150 Lightning and Rivian R1T pickup trucks joined the top 10 list. Sedans and coupes have overtaken SUVs as the most common trade-ins for EVs, with Toyota leading trade-in brands followed by Honda and Ford.

Oregon has surpassed California as the state with the highest percentage of EV sales relative to total vehicle sales at CarMax. Utah, New Mexico, Minnesota, and New Jersey have newly entered the top 10 states for EV sales proportion.

CarMax (KMX) reported strong Q4 FY2025 results with significant earnings growth. Net revenues increased 6.7% to $6.0 billion, driven by a 6.2% increase in retail used unit sales and 3.1% growth in wholesale units. The company achieved a fourth quarter record gross profit per retail unit of $2,322.

Total gross profit rose 13.9% to $667.9 million, while CarMax Auto Finance (CAF) income grew 8.2% to $159.3 million. Net earnings per diluted share increased 81.3% to $0.58. The company maintained its 3.7% market share of nationwide age 0-10 year old used vehicles in 2024.

Notable operational highlights include a 15.3% increase in vehicle purchases from consumers and dealers, reaching 269,000 units. Online retail sales accounted for 15% of retail unit sales, with total online transactions representing 29% of net revenues. The company repurchased $98.5 million in shares during Q4 and opened two new store locations.

CarMax (NYSE: KMX) has achieved a significant milestone by being named one of Fortune's 100 Best Companies to Work For® for the 21st consecutive year, ranking #69 in 2025. This recognition is based on anonymous survey responses from over 1.3 million U.S. employees through Great Place to Work®.

The company, America's largest used car retailer, has garnered multiple accolades including Fortune's 'Best Workplaces in Retail' and 'Most Innovative Companies.' During fiscal 2024, CarMax sold approximately 770,000 used vehicles and 550,000 wholesale vehicles, while CarMax Auto Finance originated over $8 billion in receivables.

With over 245 store locations and nearly 30,000 associates, CarMax offers competitive benefits including immediate 401(k) eligibility with 6% match, car purchase discounts, wellness benefits, and comprehensive medical plans. The company is actively hiring across various positions, including auto technicians, sales, and technology roles.