Bill Nash
President and Chief Executive Officer at CarMax
Great. Thank you, Jon. Thank you, Enrique. As I mentioned earlier in this call, I am very proud of how we performed in fiscal 2022. We bought and sold more vehicles than ever before through our retail and wholesale platforms. We've continued to innovate, to aggressively invest in core areas of our business and to pursue new growth opportunities. As a result of these efforts, we've achieved double-digit year-over-year growth in our market share, and we believe we are well positioned to take even more share. We have continued to build out new and enhanced capabilities, and as those capabilities have come to market, we have continued to see positive returns.
Some highlights from this year that will have a lasting impact are, first, enabling online self-progression capabilities currently available to approximately 90% of our customers with full availability for every customer anticipated by the end of this first quarter.
Next, leveraging our online instant appraisal offering to buy a record number of cars directly from consumers, which enable us to nearly double our self-sufficiency as we drive -- as well as drive sustainable wholesale unit growth. Also, transitioning CAF's legacy auto loan receivable servicing system to brand-new technology, which provides CAF a modernized foundation for growth and allows us to enhance our customer experience. And finally, rolling out the finance-based shopping capabilities that Jon just described.
Our e-commerce engine, combined with our unparalleled nationwide physical footprint, is a key value to our customers and helps us provide what we believe is the best experience in the used car industry. Our ability to offer seamless integration across digital and physical transactions gives us access to the largest total addressable market and is a key differentiator, one that we will continue to enhance.
In regard to our fourth quarter online metrics, approximately 11% of retail unit sales were online, up from prior year's quarter of 5%. Our wholesale auctions remain virtual, so 100% of wholesale sales, which represents 23% of total revenue, are considered online transactions. Total revenue resulting from online transactions was approximately 31%. This is up from 17% in last year's fourth quarter. Approximately 55% of retail unit sales were omni sales this quarter, up from 51% in the prior year's quarter.
In the fourth quarter, we bought approximately 162,000 vehicles from customers through our online instant appraisal. That represents about half of our total buys from consumers. This fiscal year, we bought approximately 707,000 cars through this channel, again, representing roughly half of our total buys from consumers.
Going forward, we will continue to evolve our online and in-store capabilities to enable a more seamless experience for our associates and customers. I would like to highlight four key areas of focus for FY '23.
First, as Jon mentioned earlier, we're deploying a more sophisticated version of our finance-based shopping capability that enables real-time decisions and offers our customers the ability to prequalify for a loan with no impact to their credit score. Second, adding self-service capabilities to enhance in-store interactions, including appraisals and express pickups. Third, growing vehicle acquisition through attracting new customers and pursuing partnerships as we expand our appraisal offering to dealers and other businesses. And finally, continuing to leverage data science, automation and AI to improve efficiencies and effectiveness across our buying organization, business offices and CEC.
Again, we're very proud of the strong results for fiscal '22 as they are in large part due to our relentless focus to provide our customers the best experience in the industry. We are in a strong position moving forward, and we'll continue to invest and innovate to achieve profitable market share growth.
During our Analyst Day last May, we announced long-term targets of achieving 2 million combined retail and wholesale units sold and $33 billion of revenue in FY '26, up from $1.2 million and $19 billion, respectively, during FY '21. Though we don't anticipate updating our targets annually, our strong performance in FY '22 has given us a new perspective on these targets that we believe is appropriate to share at this time. We're revising our FY '26 targets to reflect a range of 2 million to 2.4 million combined units with revenue between $33 billion and $45 billion. These ranges reflect the macro factors we had earlier that could result in ongoing volatility in consumer demand and vehicle pricing.
In regard to market share, I'm excited for the future and confident that we will expand it beyond 5% by the end of calendar 2025.
Last, but most importantly, I want to thank all of our associates for the work that they do. They are truly the keys to our success. Just yesterday, Fortune Magazine named CarMax as one of its 100 Best Companies to work for, for the 18th year in a row. I'm incredibly proud of this recognition as it is due to our associates' commitment to supporting each other, our customers and our communities every day. I want to thank and congratulate all of our associates.
With that, we'll be happy to take your questions.