CarMax Review, Used Car Pricing is Set to Moderate in 2023
<p>Oppenheimer analysts provided their review on <a href='https://financialmodelingprep.com/financial-summary/KMX'>CarMax, Inc. (NYSE:KMX)</a>, noting that used car pricing is set to moderate in 2023.</p>
<p>The past several months proved very challenging for the broader used car retail sector and even, industry-leading CarMax, as a combination of historically elevated used car pricing and waning consumer confidence, particularly amongst core middle-income shoppers, weighed meaningfully upon demand trends in the space.</p>
<p>The company’s management and other leading used car sellers have indicated clearly that historically elevated prices for pre-owned vehicles have meaningfully impacted affordability and hence demand, lately.</p>
<p>Overall, while the analysts remain concerned with prospects for the company and the used car sector, nearer term, they are increasingly optimistic that moderating prices for pre-owned vehicles could help to fuel improved demand and unlock pent-up demand, beginning later in 2023.</p>
<p>In the analysts’ view, while market sentiment toward the used car space is currently quite downbeat, clearer indications of normalizing pricing dynamics could amount to a compelling “positive surprise” for the sector, in the not-too-distant future.</p>

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