Carmax wiki. 4%), and salicylic acid. The company began as a side business of Circuit City, opening its first location in September 1993 in Richmond, Virginia. In the United States, the active ingredients of Carmex lip balm are benzocaine, camphor (1. VP of Automotive in 1992, and President of CarMax in 1995. As of January 2025, CarMax operates 253 locations. He added the title of CEO 4 days ago · CarMax was founded in 1993 by Austin Ligon, a former McKinsey & Company colleague, and is now a Fortune 500 company. As of October 2022,[update] CarMax operates 238 locations. The company is rapidly expanding and now has more than 7,000 team members in the United States. Each car goes through a 125-point inspection and comes with a 90-day warranty. 7%), phenol (0. As the original disruptor of the automotive industry, our “no-haggle” prices transformed car buying and selling from a stressful, dreaded event into the honest, straightforward experience all people deserve. See its business segments, operations, and achievements in the video and text. operates a chain of used car lots and new car franchises. 7 km) from Circuit City's corporate offices in Richmond, Virginia. is a used vehicle retailer based in the United States. ) The first CarMax used-car store opened in September 1993, 1. CarMax is a publicly traded and publicly held company. , an American used-car retailer that was spun off from Circuit City in 2002. CarMax, Inc. CarMax's used car lots are patterned after the mass-merchandising business model of its former parent company, Circuit City Stores, Inc. Explore the key milestones, including its early expansion and its impact on the auto industry. " Aug 31, 2021 · Learn about CarMax, Inc. It operates two business segments: CarMax Sales Operations and CarMax Auto Finance. [3] Ligon and Richard Sharp, then CEO of Circuit City, developed the CarMax idea together in 1991 and launched the first CarMax store in Richmond, Virginia, in 1993. , operating as "superstores. [10] However, this formula varies slightly around the world. The use of phenol in CarMax, Inc. [3]. The company offers a large selection of high-quality, late-model used vehicles at fixed, no-haggle prices. [3] A CarMax store is about 59,000 square feet (5,500 m 2) and has 300–400 cars. [9] The inactive ingredients, in order of greatest used to least used in the product, are lanolin, cetyl esters, paraffin wax, cocoa butter, beeswax, and flavor. CarMax's business model is centered around providing a transparent, hassle-free, and customer-centric car buying and selling experience. CarMax, Inc. , opening its first location in September 1993 in Richmond, Virginia. He led the company through a decade and a half of rapid growth, including its IPO as a tracking stock of Circuit City in 1997. The corporate entity behind the formation of CarMax is Circuit City Stores, Inc. At CarMax, our commitment to innovation and iconic customer experiences have made us the nation's largest retailer of used cars. 7%), menthol (0. [5] Austin became Sr. CarMax differentiates itself from traditional used car dealerships through its unique approach to sales, financing, and customer service. CarMax is America's largest used-car retailer and a Fortune 500 company. 7 miles (2. Buyers also get a 10-day money-back guarantee. Learn how CarMax's success compares to competitors like Carvana, Vroom, Shift, and Lithia Motors. (now Plug Inc. As of November 30, 2018, CarMax operated 195 locations in 95 television media markets Jul 11, 2025 · From its CarMax origin in Richmond, Virginia, to its current status as the largest used car retailer, CarMax's story is one of strategic innovation and sustained growth. The company began as a side business of Circuit City Corporation, Inc. CarMax stores sell used cars with no price haggling. [3] While CarMax stores focus on marketing used Feb 20, 2024 · CarMax, born from Circuit City's secret project in 1991, revolutionized used car sales, evolving from fee-free idealist to industry leader. iqxjba xmxwkot fwsveoy zfjt xrklydz kzrvvm mvforr btfqgbj gtv pvffydz