CARMAX INC

Founded in 1993 and headquartered in Richmond, Virginia, CarMax operates as the largest retailer of used vehicles in the United States. The company purchases, reconditions, and sells pre-owned vehicles across a broad spectrum of makes, models, and price points, including domestic, imported, and luxury vehicles as well as hybrid and electric models. CarMax generates revenue through vehicle sales, extended service plans and protection plans sold at point of sale, and vehicle reconditioning and repair services.

The company maintains two operating segments: CarMax Sales Operations and CarMax Auto Finance. The Sales Operations segment handles the core retail used-vehicle business and related ancillary services. The Auto Finance segment provides in-house financing options to retail customers across varying credit profiles and also arranges financing through partnerships with external financial institutions, expanding credit accessibility to a broader customer base.

CarMax operates approximately 230 stores across the United States and employs approximately 28,000 full-time employees. The company conducts used vehicle auctions, which serve as a sourcing mechanism for inventory and represent an additional revenue stream. Through its integrated retail and financing platform, CarMax serves customers seeking used vehicle purchases with streamlined buying processes and financing alternatives tailored to different credit levels.