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CarMax, Inc. 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, CarMax operates 238 locations.
CarMax, the largest U.S. used car retailer, will pay $1 million to resolve claims by 36 states that it failed to disclose open safety recalls to buyers.
CarMax, for example, shifted some inventory from wholesale to retail to meet shopper demand for lower-priced vehicles. Average used-vehicle prices spiked in early May to a record $28,375, but they ...
CarMax is a used car auto superstore concept developed in 1991 at Circuit City by Austin Ligon, then Circuit City's Senior VP of Planning, and Rick Sharp, then Circuit City CEO. The goal of CarMax was to revolutionize used car retailing through a combination of large selection (400+ used cars at each store); low, no-haggle pricing; guaranteed ...
Consumers have logged more than 1,500 complaints with the Federal Trade Commission regarding used-car seller CarMax over the past three years, according to the agency's records.
Richard L. "Rick" Sharp (April 12, 1947 – June 24, 2014) was an American business and retail executive who served as the CEO of Circuit City, a former consumer electronics retail chain, from 1986 to 2000. In 1993, Sharp co-founded CarMax, the largest used car retailer in the United States, which grew to more than 135 locations with revenue of ...
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