Used-vehicle retail giant CarMax Inc. tops Automotive News' debut list of retailers by used-vehicle-only sales.
Joining CarMax on the inaugural list is a mix of national and regional used-vehicle retailers with high-volume, multistore operations. There are also publicly traded online used-vehicle retailers that gained more prominence in the last decade and grew sales volumes substantially during the COVID-19 pandemic.
CarMax, of Richmond, Va. — formerly the longtime leader of Automotive News' annual ranking of the top 100 U.S. dealership groups by used-vehicle sales — sold 807,823 used vehicles in its fiscal year ended Feb. 28, 2023, down 13 percent from the previous year. Automotive News revamped its top 100 ranking this year into a list that exclusively features franchised dealership groups. The change was spurred in part by CarMax's sale in late 2021 of its last franchised new-car dealership.