CarMax Inc
Company Profile
Business description
CarMax sells, finances, and services used and new cars through a chain of around 250 used retail stores. It was formed in 1993 as a unit of Circuit City and spun off into an independent company in late 2002. Used-vehicle sales typically account for about 83% of revenue (79% in fiscal 2024 due to the chip shortage) and wholesale about 13% (19% in fiscal 2024), with the remaining portion composed of extended service plans and repair. In fiscal 2024, the company retailed and wholesaled 765,572, and 546,331 used vehicles, respectively. CarMax is the largest used-vehicle retailer in the US but still estimates that it had only about 3.7% US market share of vehicles 0-10 years old in 2023. It seeks over 5% share a few years from now. CarMax is based in Richmond, Virginia.
Contact
12800 Tuckahoe Creek Parkway
RichmondVA23238
USAT: +1 804 747-0422
Sector
Consumer Cyclical
Stock type
Cyclical
Industry
Auto & Truck Dealerships
Fiscal Year End
28 February 2025
Employees
29,836
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