---
title: "CarMax sinks on declining used car sales as Carvana closes in"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/270163088.md"
description: "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."
datetime: "2025-12-18T13:00:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/270163088.md)
  - [en](https://longbridge.com/en/news/270163088.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/270163088.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/270163088.md) | [繁體中文](https://longbridge.com/zh-HK/news/270163088.md)


# CarMax sinks on declining used car sales as Carvana closes in

Used car retailer CarMax is down more than 5% in premarket trading on Thursday following the company’s third-quarter earnings report.

The company posted adjusted earnings per share of $0.43, beating the Wall Street consensus of $0.31 per share. CarMax’s comparable-store sales came in down 9% from the same period last year and in line with its preliminary results posted in November, when it announced the sudden firing of long-time CEO Bill Nash.

CarMax sold 169,557 used vehicles to retail customers in its fiscal third quarter, an 8% drop from the same period last year. The company said it anticipates lowering margins on its used vehicles in Q4, which it expects will boost sales.

That declining used car sales figure is getting closer to rival Carvana’s, and Wall Street expects the gap to continue to shrink. In November, analysts at Wedbush said they expected Carvana’s retail sales to surpass CarMax’s in Q4 of 2026 — six months earlier than initially forecasted. Carvana rose 1% in premarket trading.

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