CarMax CEO Appointment & Turnaround Plan Amid Stock Decline

Apr 5, 2026

According to a report from Yahoo Finance, the used car retailer CarMax has appointed Keith Barr as its new chief executive. This leadership change resolves a period of uncertainty in the company’s executive suite.

The company’s stock has declined more than 40 percent over the past year. It is currently trading below $45 per share, which some view as a discount. The stock reached a 52-week high of $82 in March of last year and was valued above $100 per share four years ago. Current valuation metrics show both forward and trailing price-to-earnings ratios slightly above 13.

Activist investor Starboard Value has taken a significant stake in CarMax, valued at approximately $350 million. Starboard recently nominated two new members to the board of directors and was involved in the hiring of the permanent CEO. The investor is advocating for greater operational discipline at the company.

CarMax is preparing to release its fourth-quarter results for the 2025 fiscal year. In the previous quarter, the company experienced an 8 percent decline in used-unit sales and a 9 percent drop in comparable-store sales. Net earnings fell by over 50 percent compared to the same period the prior year.

The new leadership is focusing on performance improvement, user experience upgrades, and strengthening the balance sheet, including through stock buybacks. The company faces challenges from macroeconomic conditions, tariffs, and consumer spending pressures. Analysts suggest a successful corporate turnaround will require a long-term perspective from investors.

Interactive table based on the Store Companies dataset for this report.

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Sort: Company A-Z
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#
Company
Headquarters
Focus
Scale
Note

1
Toyota
Toyota City, Japan
Full-line, hybrids
~10M units/year
World’s largest automaker

2
Volkswagen Group
Wolfsburg, Germany
Full-line, premium
~9M units/year
Includes Audi, Porsche, Skoda

3
Hyundai Motor Group
Seoul, South Korea
Full-line
~7M units/year
Includes Hyundai and Kia brands

4
Stellantis
Amsterdam, Netherlands
Full-line, multi-brand
~6M units/year
Formed from PSA and FCA merger

5
General Motors
Detroit, USA
Full-line, trucks, EVs
~6M units/year
Major brands: Chevrolet, Cadillac, Buick

6
Ford Motor Company
Dearborn, USA
Trucks, SUVs, EVs
~4M units/year
Strong in North America

7
Honda
Tokyo, Japan
Passenger cars, motorcycles
~4M units/year
Major global brand

8
Nissan Motor
Yokohama, Japan
Passenger cars, crossovers
~3.5M units/year
Part of Renault-Nissan-Mitsubishi alliance

9
SAIC Motor
Shanghai, China
Full-line, joint ventures
~5M+ units/year
Largest Chinese automaker, partners with VW, GM

10
BMW Group
Munich, Germany
Premium vehicles
~2.5M units/year
Includes BMW, Mini, Rolls-Royce

11
Mercedes-Benz Group
Stuttgart, Germany
Premium/luxury vehicles
~2.5M units/year
Part of Mercedes-Benz Cars division

12
Geely
Hangzhou, China
Full-line, global portfolio
~2.5M units/year
Owns Volvo Cars, Lotus, Polestar

13
Changan Automobile
Chongqing, China
Passenger and commercial vehicles
~2.3M units/year
State-owned Chinese automaker

14
Dongfeng Motor
Wuhan, China
Passenger and commercial vehicles
~2.2M units/year
Major state-owned Chinese group

15
BYD
Shenzhen, China
EVs and hybrids
~3M+ units/year
World’s leading EV manufacturer

16
GAC Group
Guangzhou, China
Passenger vehicles
~2.4M units/year
Partners with Toyota, Honda, Mitsubishi

17
FAW Group
Changchun, China
Full-line, commercial vehicles
~3.2M units/year
State-owned, partners with VW, Toyota

18
Suzuki Motor
Hamamatsu, Japan
Compact cars
~3M units/year
Strong in India and Japan

19
Renault
Boulogne-Billancourt, France
Passenger cars, EVs
~2.1M units/year
Part of Renault-Nissan-Mitsubishi alliance

20
Tesla
Austin, USA
Electric vehicles
~1.8M units/year
Pure EV manufacturer

21
Mazda
Hiroshima, Japan
Passenger cars, crossovers
~1.1M units/year
Independent Japanese automaker

22
Subaru
Tokyo, Japan
All-wheel-drive vehicles
~850k units/year
Part of Subaru Corporation

23
Mitsubishi Motors
Tokyo, Japan
SUVs, crossovers
~900k units/year
Part of Renault-Nissan-Mitsubishi alliance

24
Tata Motors
Mumbai, India
Passenger and commercial vehicles
~500k+ cars/year
Owns Jaguar Land Rover

25
Great Wall Motors
Baoding, China
SUVs, pickups
~1M+ units/year
Specializes in SUVs and light trucks

26
Chery
Wuhu, China
Passenger cars, exports
~1.2M units/year
Major Chinese exporter

27
BAIC Group
Beijing, China
Passenger and commercial vehicles
~1.5M units/year
State-owned, partner with Hyundai, Mercedes

28
Jaguar Land Rover
Coventry, UK
Luxury and premium SUVs
~400k units/year
Owned by Tata Motors

29
Volvo Cars
Gothenburg, Sweden
Premium vehicles, safety
~700k units/year
Owned by Geely

30
Mahindra & Mahindra
Mumbai, India
SUVs, electric vehicles
~300k+ cars/year
Major Indian SUV manufacturer

This report provides a comprehensive view of the global passenger car industry, tracking demand, supply, and trade flows across the worldwide value chain. It explains how demand across key channels and end-use segments shapes consumption patterns, while also mapping the role of input availability, production efficiency, and regulatory standards on supply.

Beyond headline metrics, the study benchmarks prices, margins, and trade routes so you can see where value is created and how it moves between exporters and importers worldwide. The analysis is designed to support strategic planning, market entry, portfolio prioritization, and risk management in the global passenger car landscape.

Quick navigation
Key findings

Global demand is shaped by both household and industrial usage, with trade flows linking cost-competitive producers to import-reliant markets.
Pricing dynamics reflect unit values, freight costs, exchange rates, and regulatory shifts that affect sourcing decisions.
Supply depends on input availability and production efficiency, creating distinct cost curves across regions.
Market concentration varies by country, creating different competitive landscapes and entry barriers.
The 2035 outlook highlights where capacity investment and demand growth are most aligned globally.
Report scope

The report combines market sizing with trade intelligence and price analytics. It covers both historical performance and the forward outlook to 2035, allowing you to compare cycles, structural shifts, and policy impacts across countries and regions.

Market size and growth in value and volume terms
Consumption structure by end-use segments and regions
Production capacity, output, and cost dynamics
Global trade flows, exporters, importers, and balances
Price benchmarks, unit values, and margin signals
Competitive context and market entry conditions
Product coverageProdcom 29102100 – Vehicles with spark-ignition engine of a cylinder capacity. 1 .500 cm., newProdcom 29102230 – Motor vehicles with a petrol engine > 1 .500 cm. (including motor caravans of a capacity > 3 .000 cm.) (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)Prodcom 29102250 – Motor caravans with a spark-ignition internal combustion reciprocating piston engine of a cylinder capacity > 1 .500 cm. but . 3 .000 cm.Prodcom 29102310 – Motor vehicles with a diesel or semi-diesel engine . 1 .500 cm. (excluding vehicles for transporting . .10 persons, s nowmobiles, golf cars and similar vehicles)Prodcom 29102330 – Motor vehicles with a diesel or semi-diesel engine > 1 .500 cm. but . 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)Prodcom 29102340 – Motor vehicles with a diesel or semi-diesel engine > 2 .500 cm. (excluding vehicles for transporting . .10 persons, motor caravans, snowmobiles, golf cars and similar vehicles)Prodcom 29102353 – Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 1 .500 cm. but . 2 .500 cm.Prodcom 29102355 – Motor caravans with a compression-ignition internal combustion piston engine (diesel or semi-diesel) of a cylinder capacity > 2 .500 cm.Prodcom 29102400 – Other motor vehicles for the transport of persons (excluding vehicles for transporting . .10 persons, snowmobiles, golf cars and similar vehicles)Prodcom 29102410 – Motor vehicles, with both spark-ignition or compression-ignition internal combustion piston engine and electric motor as motors for propulsion, other than those capable of being charged by plugging to external source of electric powerProdcom 29102430 – Motor vehicles, with both spark-ignition or compression-ignition internal combustion piston engine and electric motor as motors for propulsion, capable of being charged by plugging to external source of electric powerProdcom 29102450 – Motor vehicles, with only electric motor for propulsionProdcom 29102490 – Other motor vehicles for the transport of persons (excluding vehicles with only electric motor for propulsion , vehicles for transporting u2265 10 persons, snowmobiles, golf cars and similar vehicles)Country coverageCountry profiles and benchmarks

For the global report, country profiles provide a consistent view of market size, trade balance, prices, and per-capita indicators. The profiles highlight the largest consuming and producing markets and allow direct benchmarking across peers.

Methodology

The analysis is built on a multi-source framework that combines official statistics, trade records, company disclosures, and expert validation. Data are standardized, reconciled, and cross-checked to ensure consistency across time series.

International trade data (exports, imports, and mirror statistics)
National production and consumption statistics
Company-level information from financial filings and public releases
Price series and unit value benchmarks
Analyst review, outlier checks, and time-series validation

All data are normalized to a common product definition and mapped to a consistent set of codes. This ensures that comparisons across time are aligned and actionable.

Forecasts to 2035

The forecast horizon extends to 2035 and is based on a structured model that links passenger car demand and supply to macroeconomic indicators, trade patterns, and sector-specific drivers. The model captures both cyclical and structural factors and reflects known policy and technology shifts.

Historical baseline: 2012-2025
Forecast horizon: 2026-2035
Scenario-based sensitivity to income growth, substitution, and regulation
Capacity and investment outlook for major producing countries

Each country projection is built from its own historical pattern and the regional context, allowing the report to show where growth is concentrated and where risks are elevated.

Price analysis and trade dynamics

Prices are analyzed in detail, including export and import unit values, regional spreads, and changes in trade costs. The report highlights how seasonality, freight rates, exchange rates, and supply disruptions influence pricing and margins.

Price benchmarks by country and sub-region
Export and import unit value trends
Seasonality and calendar effects in trade flows
Price outlook to 2035 under baseline assumptions
Profiles of market participants

Key producers, exporters, and distributors are profiled with a focus on their operational scale, geographic footprint, product mix, and market positioning. This helps identify competitive pressure points, partnership opportunities, and routes to differentiation.

Business focus and production capabilities
Geographic reach and distribution networks
Cost structure and pricing strategy indicators
Compliance, certification, and sustainability context
How to use this report

Quantify global demand and identify the most attractive markets
Evaluate export opportunities and prioritize target countries
Track price dynamics and protect margins
Benchmark performance against major competitors
Build evidence-based forecasts for investment decisions

This report is designed for manufacturers, distributors, importers, wholesalers, investors, and advisors who need a clear, data-driven picture of global passenger car dynamics.

FAQ
What is included in the global passenger car market?

The market size aggregates consumption and trade data at country and regional levels, presented in both value and volume terms.

How are the forecasts to 2035 built?

The projections combine historical trends with macroeconomic indicators, trade dynamics, and sector-specific drivers.

Does the report cover prices and margins?

Yes, it includes export and import unit values, regional spreads, and a pricing outlook to 2035.

Which countries are profiled in detail?

The report provides profiles for the largest consuming and producing countries, enabling benchmarking across peers.

Can this report support market entry decisions?

Yes, it highlights demand hotspots, trade routes, pricing trends, and competitive context.

1. INTRODUCTION

Report Scope and Analytical Framing

Report DescriptionResearch Methodology and the Analytical FrameworkData-Driven Decisions for Your BusinessGlossary and Product-Specific Terms2. EXECUTIVE SUMMARY

Concise View of Market Direction

Key FindingsMarket TrendsStrategic ImplicationsKey Risks and Watchpoints3. MARKET SIZE AND DEVELOPMENT PATH

Market Size, Growth and Scenario Framing

Market Size: Historical Data (2012-2025) and Forecast (2026-2035)Growth Outlook and Market Development Path to 2035Growth Driver DecompositionScenario Framework and Sensitivities4. CATEGORY SCOPE, DEFINITIONS AND BOUNDARIES

Commercial and Technical Scope

What Is Included and How the Market Is DefinedMarket Inclusion CriteriaProduct / Category DefinitionExclusions and BoundariesDistinction From Adjacent Products and Substitute Categories5. CATEGORY STRUCTURE, SEGMENTATION AND PRODUCT MATRIX

How the Market Splits Into Decision-Relevant Buckets

By Product Type / ConfigurationBy Application / End UseBy Customer / Buyer TypeBy Channel / Business Model / Technology PlatformSegment Attractiveness MatrixProduct Matrix and Segment Growth Logic6. DEMAND, CUSTOMER AND CONSUMER ARCHITECTURE

Where Demand Comes From and How It Behaves

Consumption / Demand by Country or Region: Historical Data (2012-2025) and Forecast (2026-2035)Demand by End-Use and Buyer GroupDemand by Customer / Consumer SegmentPurchase Criteria, Switching Logic and Adoption BarriersReplacement, Replenishment and Installed-Base DynamicsFuture Demand Outlook7. PRODUCTION, SUPPLY AND VALUE CHAIN

Supply Footprint, Trade and Value Capture

Production by CountryManufacturing Footprint and Supply HubsCapacity, Bottlenecks and Supply RisksValue Chain Logic and Margin PoolsRoute-to-Market and Distribution Structure8. TRADE, SOURCING AND IMPORT DEPENDENCE

Trade Flows and External Dependence

Exports by CountryImports by CountryTrade Balance and Sourcing StructureImport Dependence and Supply ResilienceStrategic Trade Corridors9. PRICING, PROMOTION AND COMMERCIAL MODEL

Price Formation and Revenue Logic

Price Levels and Price CorridorsPricing by Segment / Specification / GeographyCost Drivers and Margin LogicPromotion, Discounting and Procurement PatternsRevenue Quality and Commercial Levers10. COMPETITIVE LANDSCAPE AND PORTFOLIO POWER

Who Wins and Why

Market Structure and ConcentrationCompetitive ArchetypesSegment-by-Segment Competitive IntensityPortfolio Breadth and Product PositioningCapability MatrixStrategic Moves, Partnerships and Expansion Signals11. GEOGRAPHIC LANDSCAPE AND COUNTRY ROLES

Where Growth and Supply Concentrate

Core Demand MarketsCore Production MarketsExport HubsImport-Reliant MarketsFastest-Growing MarketsCountry Archetypes and Strategic Roles12. GROWTH PLAYBOOK AND MARKET ENTRY

Commercial Entry and Scaling Priorities

Where to PlayHow to WinBuild vs Buy vs PartnerRoute-to-Market ChoicesLocalization and Capability ThresholdsEntry Risks and Mitigation13. WHERE TO PLAY NEXT: MOST ATTRACTIVE GROWTH OPPORTUNITIES

Where the Best Expansion Logic Sits

Most Attractive Product NichesMost Attractive Customer SegmentsMost Attractive Markets for Commercial ExpansionWhite Spaces and Unsaturated OpportunitiesHigh-Margin and Underpenetrated PocketsMost Promising Product Adjacencies14. PROFILES OF MAJOR COMPANIES

Leading Players and Strategic Archetypes

Leading Manufacturers and SuppliersRegional Specialists and ChallengersProduction Footprint and Manufacturing CapacitiesProduct Portfolio and Segment FocusPricing Positioning and Indicative Price LogicChannel / Distribution StrengthStrategic Archetypes15. COUNTRY PROFILES

Detailed View of the Most Important National Markets

View detailed country profiles50 countries

15.1

United States