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carmax.com

Founded Year

1993

Stage

IPO | IPO

Date of IPO

2/7/1997

Market Cap

15.83B

Stock Price

98.62

Revenue

$0000 

About CarMax

CarMax is as a holding company, which operates as a retailer of used vehicles and wholesale vehicle auction operator. It operates through the following segments: CarMax Sales Operations and CarMax Auto Finance. The CarMax Sales Operations segment consists of all aspects of the auto merchandising and service operations, excluding financing provided by CarMax Auto Finance. The CarMax Auto Finance segment provides vehicle financing through CarMax superstores.

CarMax Headquarter Location

12800 Tuckahoe Creek Parkway

Richmond, Virginia, 23238,

United States

804-747-0422

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Expert Collections containing CarMax

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

CarMax is included in 1 Expert Collection, including Fortune 500 Investor list.

F

Fortune 500 Investor list

590 items

This is a collection of investors named in the 2019 Fortune 500 list of companies. All CB Insights profiles for active investment arms of a Fortune 500 company are included.

CarMax Patents

CarMax has filed 9 patents.

The 3 most popular patent topics include:

  • Image processing
  • Machine learning
  • Artificial neural networks
patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/5/2020

5/31/2022

Image processing, Digital photography, Digital geometry, Mathematical morphology, Feature detection (computer vision)

Grant

Application Date

5/5/2020

Grant Date

5/31/2022

Title

Related Topics

Image processing, Digital photography, Digital geometry, Mathematical morphology, Feature detection (computer vision)

Status

Grant

Latest CarMax News

CarMax sales fall, but it holds onto per-vehicle profit

Jun 27, 2022

CarMax Inc., like other major players in the automotive retail world, finds itself trying to maneuver through a year hampered by sunken buyer confidence. June 27, 2022 12:00 AM CarMax is sticking to its plan to open 10 in-person stores in fiscal 2023. CarMax Inc., like other major players in the automotive retail realm, finds itself trying to maneuver through a year hampered so far by sunken buyer confidence. In its fiscal first quarter, CarMax retailed 240,950 vehicles. That's down 11 percent year over year . Company executives last week attributed the slump to a downturn in consumers' willingness to purchase right now because of inflated vehicle prices and the absence this spring of $1,400 stimulus checks, which consumers received last year. Despite the setbacks, CarMax managed to keep a handle on per-vehicle profit. Retail prices per vehicle rose about $6,300 allowing the company to pull in roughly 14 percent more used-vehicle retail revenue in its first quarter. It reported making a profit of $2,339 on each vehicle it sold — $134 more than it did during the same time last year. Mayor-Mora: “Confident in our ability to weather” a possible recession CarMax Q1 results Fully online sales: 11% Inventory acquired from dealers: 17,064 vehicles CarMax is examining how to align its cost structure to match the softened demand, company CFO Enrique Mayor-Mora told analysts during the company's first-quarter earnings call last week. "If a recession comes, we're confident in our ability to weather it, as we're coming at it from a position of strength," Mayor-Mora said. A number of used-vehicle retailers are scaling back growth plans because of shrinking consumer confidence and other macroeconomic factors that manifested in the first quarter. CarMax does not plan to make such an adjustment, at least in terms of its brick-and-mortar expansion. Executives reconfirmed last week the company's plan to open 10 in-person stores in fiscal 2023. CarMax opened one new store in Edison, N.J., in the first quarter, its first in the New York metro market. Though CarMax may need to trim some expenses, it will not do so by compromising on vehicle reconditioning costs, CarMax CEO Bill Nash told analysts. The company will make a push to make available more affordable cars and trucks after it saw the effects of inflation in its inventory in the first quarter, Nash said. Nash: Pressures of inflation One year ago, 70 percent of CarMax's inventory was priced below $25,000. Fast-forward to today, and "it's more like 43 to 45 percent, and that's really a result of inflationary pressures," Nash said. Older vehicles — 6 years old or with 60,000-plus miles — captured more consumer interest in the quarter, Nash said. "Typically that type of inventory [represents] in a given year 20 to 25 percent of our sales," Nash said. "For this quarter, it was more like 35 percent of our sales." In the second half of 2021, CarMax spent less on per-vehicle marketing because demand was so strong. That ended up changing in the first quarter, Mayor-Mora said. CarMax's selling, general and administrative expenses grew 19 percent to $657 million, in part because of an increase in per-vehicle marketing, staffing costs and growth costs. CarMax spent less on per-vehicle marketing in the second half of 2021 because of strong demand. CarMax kept up its efforts to source cars and trucks directly from consumers and dealers, sourcing about 362,000 from that group in the first quarter. That's 6 percent more than in the year-earlier period. That enabled CarMax's self-sufficiency to stay above 70 percent, Nash said. CarMax's retail sales to customers that took place entirely online rose to 11 percent, compared with 8 percent a year earlier. Meanwhile, 54 percent of customers in the quarter purchased vehicles through CarMax's omnichannel option, in which they can work through the buying process both online and in-store. That omnichannel share is down slightly from 56 percent one year ago.

CarMax Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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CarMax Rank

  • When was CarMax founded?

    CarMax was founded in 1993.

  • Where is CarMax's headquarters?

    CarMax's headquarters is located at 12800 Tuckahoe Creek Parkway, Richmond.

  • What is CarMax's latest funding round?

    CarMax's latest funding round is IPO.

  • Who are CarMax's competitors?

    Competitors of CarMax include Wagonex and 2 more.

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