The week’s priorities
6. CarMax plans to grow lending and protection income together
CarMax’s Nov. 3 strategy update paired a staged expansion of CarMax Auto Finance into Tier 2 lending with changes to protection-plan offerings. Its fiscal 2030 goals include mid-single-digit compound annual growth in used retail units and mid-teens growth in adjusted earnings per share, using fiscal 2026 as the base. Those are management targets, not results already delivered; adjusted earnings per share is a non-GAAP measure. The plan puts funding flexibility and protection income together, but it does not establish improved approvals or sales.
Why it ranks: A large used retailer is treating financing and protection as connected parts of its competitive plan.
Possible industry effect: Lenders and product providers may see greater emphasis on funding flexibility and value per transaction. The announcement does not establish that customer approvals or product sales have already improved.
Source: CarMax investor relations, Nov. 3.
The other stories from Saturday, November 7, 2026.
1. The loan-interest deduction needs a careful explanation
The car-loan interest deduction needs a careful explanation. Eligibility rules and financed amounts matter; it is not a $10,000 tax credit.
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2. Customer consent belongs in the delivery checklist
GM’s driver-data settlement puts customer consent and dealership enrollment controls back on the delivery checklist.
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3. Group 1’s F&I decline is bigger in total than per deal
Group 1’s total F&I revenue fell more than income per deal. The U.S.-only figure and consolidated figure cover different scopes.
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4. October slowed overall; Honda’s result was stronger
October’s sales pace slowed even as Honda posted a stronger result. Inventory and financing plans may need to differ by brand.
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5. Product income carries most of JM&A’s F&I mix
Products supplied most F&I income per deal in JM&A’s sample. The participating dealers are not a national census.
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7. Arch’s PDS agreement puts provider ownership on the watch list
Arch’s agreement to buy PDS puts provider ownership on the watch list. It does not show that current coverage or terms have changed.
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Tax rule: keep the dates and financed amounts separate
Keep the tax rule’s effective date separate from the deduction’s tax years, and separate eligible financed amounts from other debt.
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Data settlement: don’t accept permissions for the customer
The GM settlement is not a new industry-wide regulation. Customer enrollment permissions should remain with the customer.
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Two recall campaigns belong on the VIN check
GM brake software and Hyundai airbag software recalls belong on inventory VIN checks. Safety remedies are not a reason to sell a service contract.
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