RICHMOND, Va. –

The hike in comparable store used-vehicle sales for CarMax was the best it has been “in several years,” the retailer said Friday in reporting its second-quarter fiscal results.

Management attributed the strong gain to stronger conversion, reflecting a solid consumer credit environment and the progress its stores have made in execution.

All told, CarMax reported 137,154 total used unit sales for the quarter, up 22 percent year-over-year. Comparable store used unit sales jumped 17 percent.

“We are very pleased to report our strongest increase in comparable store used unit sales in several years,” said Tom Folliard, president and chief executive officer. “Strong retail sales growth, together with continued contributions from CAF and wholesale drove all-time record quarterly revenues and earnings.”

Net sales and operating revenue was at $3.31 billion, a 19-percent hike, while net earnings reached $146.7 million, a 21-percent uptick.

Sharing other statistics from the period, CarMax said it had 88,356 wholesale unit sales. This marked a 6-percent improvement, as the store base grew and the appraisal buy rate improved.

In another bright spot, CarMax realized a 26-percent hike in extended service plan revenues, which totaled $64.6 million. This gain was spurred by skyrocketing total used unit sales and an uptick in service plan penetration.

The company also eclipsed a 10-percent gain in service department sales, which came in at $27.4 million.

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