CarMax sinks on declining used car sales as Carvana closes in
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CarMax shares fell over 5% in premarket trading after reporting a 9% decline in comparable-store sales for Q3, despite beating earnings expectations. The company sold 169,557 used vehicles, an 8% drop from last year, and plans to lower margins in Q4 to boost sales. Analysts predict Carvana's sales may surpass CarMax's by Q4 2026. Carvana shares rose 1% in premarket trading.
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