$KMX Part 1 - Ford? CarMax! The automotive giant you haven't heard of yet!
CarMax is the largest used car sales company in the United States!
It sells used and new vehicles.
The company sells its vehicles at approximately 220 different sales centers across the United States!
- The company profits from several areas:
- Vehicle sales.
- Financing.
- Franchising.
Due to the global chip crisis and a shortage of new vehicles, we anticipate continued growth in used car purchases.
While companies like Ford, Chevrolet, and others face delivery issues, used car companies, led by CarMax, are enjoying increasing demand.
On 11/1/21, the company's COO and CMO stated in an interview with Fortune that he expects an increase in demand and price for used cars in 2022.
In the last quarter, the company reported revenue growth of 49% (15% above estimates) compared to the same quarter last year.
In the last quarter, the company delivered approximately 419,895 vehicles, a roughly 20% increase in vehicle sales from the previous quarter!
Note: An updated analyst report is attached for your convenience.
Current price: $147.50. Market cap: $23 billion. Risk level: Medium. Company name: CarMax.
Continuation and technical analysis in the next post: