# CarMax, Inc. (KMX) Q2 FY2027: pre-earnings channel check

Canonical URL: https://ai.marketcheck.com/investor/kmx-q2-fy2027

Pre-earnings channel check · Dealer group · Q2 FY2027 (quarter ended 31 August 2026) · published Sep 20, 2026 · 34 min read · reported Tue, Sep 29, 2026

## What the report says

North American Vehicle Transaction Signal

- Signal: Cautiously bullish. Confidence: Medium.

CarMax sold 215,133 used vehicles in our data in the June-to-August quarter, 14.3% more than a year ago, at an average last listed price of $27,855, up 6.4%. Its share of the used vehicles we track rose 0.60 percentage points to 4.09%. The typical car sold 1.6 days faster than a year ago, and hybrids, which clear faster than any other drivetrain at 31.5 days, grew 49.5%.

Realized pricing is firmer than a year ago: the average car sold 1.10% below its opening ask against 2.10% last year, with fewer cars discounted at all. The caution sits in the unsold stock rather than in what is selling. The asking premium on unsold inventory has gone 3.8%, 4.5%, 5.8% across the three periods, the lot has moved upmarket while the fastest sold growth stays at the affordable end, and sequential days on market rose on nine of the ten largest nameplates.

Inventory is flat on the quarter, 89,014 units against 89,182 in May, and the share of stock over 90 days sits below where it was a year ago at 8.2% against 8.7%. Growth, pricing and share are positive and material. The measure that would change this call is the asking premium on unsold stock, alongside the uptick in August's discount breadth.

Full details are in the report: [CarMax, Inc. (KMX): Q2 FY2027 Pre-Earnings Channel Check](https://ai.marketcheck.com/i/s/kmx-q2-fy2027) ([.md](https://ai.marketcheck.com/i/s/kmx-q2-fy2027.md)).

16 sections · 20 tables · methodology, quality checks and glossary included

## Inside

### Summary

- Our Overall Take
- The Quarter in Numbers
- Eight Signals at a Glance

### Full analysis

- 00 Data Scope Notice
- 01 North American Vehicle Transaction Signal
- 02 Signal Table
- 03 Sold Volume Summary and Market Share
- 04 Top Selling Makes
- 05 Active Inventory Composition
- 06 Discount from First Listed Price
- 07 Days on Market and Days Supply
- 08 Electrified Vehicle Sell-Through
- 09 Bull Case
- 10 Bear Case
- 11 Management Verification and Watch Items
- 12 Methodology Note

## What this report covers

MarketCheck data on used and new vehicle sales and inventory at CarMax's U.S. stores. What we cannot see: CarMax Auto Finance, its income, loan loss provisions and interest margin; extended protection plan economics; wholesale auction volumes; reconditioning and other costs; and selling and administrative expense. CarMax Auto Finance alone contributed $140.2 million of income in the quarter ended 31 May 2026 (CarMax Form 10-Q for that quarter). A strong or weak signal here reads on the car-selling side only and does not by itself predict total company profitability. Section 12 sets out what the data can and cannot support.

## Availability

Free sample. CarMax, Inc. reported on Sep 29, 2026. This post-print edition adds the accuracy review against the reported results.

Read the report: [CarMax, Inc. (KMX): Q2 FY2027 Pre-Earnings Channel Check](https://ai.marketcheck.com/i/s/kmx-q2-fy2027) ([.md](https://ai.marketcheck.com/i/s/kmx-q2-fy2027.md)). PDF: https://ai.marketcheck.com/api/investor/pdf/s-kmx-q2-fy2027

Not investment advice. MarketCheck is a data and analytics company, not a registered investment adviser or broker-dealer. The report describes North American retail vehicle activity only and carries its full disclosures.