The online automotive retail company, Carmax, reported a 5.2% drop in used car sales but a 33% increase in profits during Q4 2021 due to average retail prices . The year ended with revenue up 49% but earnings down 28%.
BUY. EVERY. THING. Carmax reported buying 1.4M cars in 2021, a 95.5% increase year over year. The company used its online instant appraisal tool for about half of the vehicles.