We continue to focus on striking the right balance between covering cost increases, maintaining margin and passing along efficiencies to consumers to support vehicle affordability. Wholesale units were up 2.
Wholesale volume was also pressured by our decision to reallocate some older vehicles from wholesale to retail to meet consumer demand for lower price vehicles. We are pleased that we continue to drive wholesale unit growth, even as we lapped last year's nationwide launch of our instant online appraisal offering on carmax. We believe our wholesale business provides an incremental growth lever and is a valuable component of our diversified business model.
We also sourced approximately 17, vehicles through our Max offer, our digital appraisal product for dealers that we mentioned during our last call. As a reminder, buying directly from consumers and dealers lowers our acquisition cost, enhances our inventory selection and provides profitable incremental wholesale volume. Yes, Brian, look, I think overall the consumers absolutely a little softer, just because of all the things I've talked about it.
I think it's hard to quantify if you think about lapping over stimulus, vehicle affordability, the general inflationary pressures, rising interest rates. If you think about those, it's hard to quantify the impact of each one. Now, I would tell you the further we've gotten from lapping the stimulus, obviously, the better we performed as I noted in my opening remarks, we got sequentially better on comps throughout the quarter, which is encouraging, but that being said, I think the consumer softer, but there is still some demand out there and I think that's what we're trying to really maximize on and we're taking several steps to take advantage of that.
It's one of the reasons why we're -- we continue to take efficiencies and pass what we can along to consumers to make the vehicle a bit more affordable. So the WSJ is analyzing the same Cox Automotive data and suggesting that there isn't a 'limited supply of vehicles'. Certain trends that kept used-car retail business on full throttle are now slowly reversing. New-vehicle inventory remains tight , which is helping keep prices high on both new and used cars.
But used-vehicle supply is starting to return to levels. Lastly, as of Monday night, June 27, , the bi-monthly short interest data was reported for the period ending June 15, As you can see, an incremental 2 million CVNA shares were shorted, over the last two week reported stretch. And I as noted in my first article, Cracking The Code Part 1 , the shorts have been aggressively shorting Carvana, so 13 million net shares shorted during Q2 through June 15, Bloomberg One other important piece of information to consider.
Per Bloomberg, when Carvana agreed, in late April , to sell Given the nearly three month lock-up, as often happens, there is a high likelihood that those shares were arbitraged and hedged, as market participants could have shorted the same amount of shares they bought, in the deal, and simply captured the underwriters' then discount to the then market trading price, as there was plenty of liquidity to lock in the arbitrage profit.
Therefore, if you are a really savvy market participant, and in the weeds here, there is a good chance that this hedge, tied to arbitraging this second offering, unwinds soon and the secondary arbitrage players will simply take off this trade and move onto greener pastures and new secondary arbitrage opportunities. Yahoo Finance However, as I share in my piece today, there was nothing new in yesterday's Stifel note.
And as I argued, the best and more relevant piece of high frequency data, outside of an update from Carvana, and I don't think we will get one until the company reports its Q2 FY results, is the CarMax's June 24, earnings results and conference call. Lastly, Carvana is a battleground stock. The public is out for blood as I read the most hyperbolic comments within the commentary streams of any Carvana articles or news releases.
Unfortunately, groupthink becomes too intoxicating for far too many people and that drives sentiment, both bullish or in this case bearishly. A person's mind has to be sound, and a fierce ability to think independently and clearly is required when you are arguing in front of a mob, in this case the Carvana shorts.
Second Wind Capital is a value oriented investment service with a strong recent track record of exceptional outperformance. The focus is mostly small cap value, but opportunistic and open minded towards special situations. The older homes, no matter how great the neighborhood, are dismissed.
And no one seems to want a home that needs a little work, even if it could be purchased at discount. The path of least resistance and convenience is a tempting one. However, there is a tradeoff for it too. The core of my nest egg was built with real estate. At a young age, my wife and I learned that if you are willing to put a little work into an ugly home, there is money to be made in flipping.
When we bought our current home 3 years ago, the housing market was already red hot. Then, we noticed a home in the same area that had been on the market for 40 days. One tour of the home showed us why. The toilet was blue and the fixtures were s style gold. The kitchen was ugly and the grass was dead.
The house had been unloved. No one wanted this thing. Except for us. The two bedroom, one bathroom home we bought now has four bedrooms and three bathrooms. Bottom line: I fully admit that my homes were big projects. I sacrificed many Saturdays to home improvement projects. At times, it was stressful and trying. No one wants to live in a construction zone. There are all levels of rehab.
Sometimes, just a new coat of paint or fresh landscaping will do the trick. Toyota just released a new model and I like the way it looks. Cars have come a long way in the past couple of decades. With oil changes and other, less frequent maintenance, a modern engine will easily go for , trouble-free miles.
The average person puts 12, miles a year on a car, so it should last at least 16 years, but in most cases, much longer. Why do we trade them in on average after only 7 years? I like to use my own poor decision as an example. It was my first new car and I was intoxicated by the toxic new car smell. Silly me. This is a wise investment and a good choice for most folks.
Heck, Warren Buffett even recommends it.
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