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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 January 2025, CarMax operates 253 locations. [3]
CarMax auto superstore in Raleigh, North Carolina. 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 ...
In 2013, DriveTime became the majority owner of Carvana; the two companies are operated completely separately. [44] Carvana was founded in 2012 and launched nationwide in November 2013. [45] The Phoenix-based company is an online used car retailer. Car-buyers use Carvana's website to view inventory, apply for financing and arrange pickup or ...
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