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UPDATE 2-Tighter subprime lending hurts used-car retailer CarMax

2014-09-23 20:41:30| Auto Dealers - Topix.net

CarMax Inc, the largest U.S. used-car retailer, reported a lower-than-expected quarterly profit as growth in comparable unit sales at its used-car lots slowed to a near halt, hurt by tighter lending norms that kept subprime customers at bay. Shares of the company, which also sells new cars, fell as much as 10 percent in early trading on Tuesday.

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