CarMax
US-based used car retailer / From Wikipedia, the free encyclopedia
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CarMax, Inc. is a used vehicle retailer based in the United States. It operates two business segments: CarMax Sales Operations and CarMax Auto Finance. The company began as a side business of Circuit City, opening its first location in September 1993 in Richmond, Virginia. As of October 2022,[update] CarMax operates 238 locations.[3]
Company type | Public |
---|---|
Industry | Used car retailer |
Founded | September 1993; 30 years ago (1993-09) (as a subsidiary of Circuit City) |
Headquarters | Richmond, Virginia, U.S. |
Key people | |
Revenue | US$18.95 billion (FY2021)[1] |
US$2.37 billion (FY2021)[2] | |
Number of employees | c. 27,000+ (2021)[2] |
Parent | Circuit City (1993–2002) |
Website | carmax |
This article may need to be rewritten to comply with Wikipedia's quality standards. (August 2023) |
While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996.[4] By 1999, it added new vehicle franchises for Mitsubishi Motors, Toyota, and Nissan.[5] In late 2021, CarMax sold its last new vehicle dealership, located in Kenosha, Wisconsin, to the Rydell Company.[6]