About the Company
Headquartered in Richmond, Virginia, CarMax Inc. is a leading retailer and dealer of used cars in America. In 1993, CarMax Inc. opened its first facility for used cars. The company acquired a new car franchise in 1996 with Chrysler Corporation. It later added Nissan, Mitsubishi Motors, and Toyota to the roster. Formerly, this company was a subsidiary of Circuit City. CarMax was still in its concept stage in 1991 when it was being developed under the name “Project X” and “Honest Rick’s Used Cars.” On 1st October 2002, CarMax split from the parent company and started its own journey. CarMax Inc. operates through two different segments - sales and finance. It has more than 220 stores all over the United States. As of January 2021, the company has sold more than 9 million vehicles.
CarMax offers more than 50,000 car options that buyers can choose, depending on the make, utility, and budget. This includes SUVs, AWDs, and hybrid cars. It deals in reputed global brands like Acura, BMW, Ford, Honda, Chevrolet, Jeep, Toyota, Nissan, etc. CarMax Auto Finance, its subsidiary, provides a broad range of financial options to customers.
It also introduced a MaxCare plan covering the cost of servicing a vehicle, irrespective of its make or mileage. It runs a vetting process to reject any car with defects or damages. CarMax allows consumers to take a 24-hour test drive before making a purchase. It runs a non-profit organisation called CarMax Foundation that aims to empower communities through philanthropic activities.
CarMax Inc. shares are listed on the New York Stock Exchange (NYSE) under the ticker symbol “KMX” and was first listed in the stock exchange on 4th February 1991. Over the years, CarMax Inc. has sealed a spot in prestigious lists, like the Forbes Global 2000 2020 and World’s Best Employers 2019. CarMax has secured the 20th rank in Fortune’s 100 Best Companies to Work For list, as of 2021. It also featured in Fortune’s World’s Most Admired Companies 2018-2019 and the Forbes Best Workplaces for Diversity 2019.;
|Industry||Auto & Truck Dealerships|