CarMax’s success procuring and promoting automobiles helped the corporate obtain document internet income of $8.53 billion through the third quarter, a 64 % improve from a yr earlier.

“Our stable execution, customer-centric omni-channel technique, and macro elements are driving robust efficiency throughout our diversified companies,” CarMax Inc. CEO Invoice Nash mentioned in an announcement Wednesday. “Our prime line momentum continued into this quarter and we achieved document ranges of third quarter unit gross sales in each retail and wholesale, producing all-time document revenues. We additionally purchased extra vehicles from prospects than ever earlier than.”

CarMax elevated retail gross sales 17 % yr over yr to 227,424 automobiles through the third quarter. Wholesale quantity rose 49 % to 187,630 automobiles.

On the provision aspect, CarMax practically doubled the quantity of automobiles it bought instantly from prospects through the quarter. The corporate mentioned it acquired about 194,000 of these 383,215 automobiles by its on-line on the spot appraisal function.

CarMax shares slipped 6.66 % to $127.87 when the market closed Wednesday.

Different quarterly metrics:

Q3 earnings earlier than taxes: $356 million, up 15 % from a yr earlier.

Q3 internet earnings: $269.4 million, up 14 % from a yr earlier.

CarMax, of Richmond, Va., ranks No. 1 on Automotive Information‘ record of the highest 100 retailers ranked by used-vehicle gross sales, with retail gross sales of 832,640 used automobiles in 2020.