Richmond-based CarMax Inc. has opened its newest area store in Frederick, Md., its seventh store in the state and its ninth store in the Washington-Baltimore area.
The used car business is good: CarMax posted a 13 percent increase in third quarter sales to $2.94 billion. Total used car sales were up 15 percent from a year earlier.
The average price of a used car sold by CarMax during the third quarter was $19,469, compared to an average price of a new vehicle, which was $27,428.
CarMax (NYSE: KMX), which opened its first store in Richmond, Va. 20 years ago, now has 130 used car superstores in 64 cities.
The new store is located at 5601 Urbana Pike.
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