CarMax plunges 16% as 'vehicle affordability challenges' drive 3rd-quarter earnings and revenue miss

Dec 22 2022 by Business Insider

 
A CarMax dealership in California.

Thomson Reuters

CarMax shares sharply fell Thursday as the used-car retailer missed third-quarter expectations.  Customers are facing "vehicle affordability challenges" with high inflation and interest rates.  Per-share earnings of $0.24 were short of consensus views for $0.70 a share. 

CarMax shares tumbled Thursday as the used-vehicle retailer badly missed expectations for its third-quarter financial results, saying consumers are having trouble affording...

Continue Reading CarMax plunges 16% as 'vehicle affordability challenges' drive 3rd-quarter earnings and revenue miss