CarMax

CarMax, Inc. is a large company in the United States that sells used cars. It started in 1993 as a side business of Circuit City. Its main office is in Richmond, Virginia. CarMax has two main parts: CarMax Sales Operations and CarMax Auto Finance. The company sells used vehicles across 41 states and runs customer service centers.

 History 
CarMax was an idea developed by Circuit City leaders in 1991. It was called "Project X" during the planning stage. The first store opened in September 1993 in Richmond, Virginia. In the 1990s, CarMax also sold new cars. By 2021, CarMax sold its last new car dealership to focus on used cars.

 How CarMax Works 
CarMax stores sell used cars with no price haggling. Each car goes through a 125-point inspection and comes with a 90-day warranty. Buyers also get a 10-day money-back guarantee. A CarMax store is about  and has 300–400 cars.

 Growth 
CarMax grew quickly over the years. It became independent of Circuit City in 2002. By 2021, CarMax sold over 750,000 vehicles.

 Competition 
CarMax competes with other car-selling companies like Carvana and Vroom. CarMax offers ways to buy cars online, at stores, or through delivery. This helps it compete with online-only businesses.

 Awards 
CarMax has been on Fortunes "100 Best Companies to Work For" list every year from 2005 to 2023.

 References 

Category:Companies listed on the New York Stock Exchange
Category:1993 establishments in Virginia
Category:Companies based in Virginia
Category:Auto dealerships