CarMax is currently undergoing a "price reset" to address declining sales and the perception of being overpriced compared to local dealerships.
: Retail used-unit sales fell by 8% , while comparable-store sales dropped 1.9% .
: The company is selectively lowering prices to close the gap with the broader used market, which has directly impacted their gross profit per unit (GPU), falling to $2,115 —a 9% decrease from the previous year.
: The company reported a significant swing to a $120.7 million loss for the quarter, compared to a profit of $89.9 million in the prior year.
The average selling price for a used vehicle at CarMax was for the fourth fiscal quarter ending February 28, 2026. This represents a slight year-over-year decrease of 0.4% as the company implements a turnaround strategy to lower prices and win back market share from traditional dealers. Current Market Position & Pricing Strategy