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.
The red carpet gleamed with sparkly metallics and shiny, futuristic-looking fabrics. See photos from this year's Met Gala.