Last year 44 million used cars traded hands (new-car sales were 17 million), 37% at new-car dealerships, 32% at used-car lots and the rest privately. (CarMax buys half of the cars it sells from individuals, the rest at auction or from other dealers.) Companies like AutoNation, Asbury Automotive and privately held Wickland Oil have tried to copy CarMax, but none has lasted.
Last year 44 million used cars traded hands (new-car sales were 17 million), 37% at new-car dealerships, 32% at used-car lots and the rest privately. (CarMax buys half of the cars it sells from individuals, the rest at auction or from other dealers.) Companies like AutoNation (nyse: AN - news - people ), Asbury Automotive and privately held Wickland Oil have tried to copy CarMax, but none has lasted.