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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 ...
While CarMax stores focus on marketing used vehicles, the company acquired its first new car franchise with Chrysler Corporation in 1996. [4] By 1999, it added new vehicle franchises for Mitsubishi Motors, Toyota, and Nissan. [5] In late 2021, CarMax sold its last new vehicle dealership, located in Kenosha, Wisconsin, to the Rydell Company. [6]
William Austin Ligon (born ca. 1951) is the co-founder and retired CEO of CarMax. He retired in June 2006, and is now a private angel-stage investor. Among his recent investments are Gazelle, Redfin, Rev.com, Car Trade (India), Eneza Education and Tazza Kitchen. [1] [2] [3] [4]
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The city of Austin has a lower than average percentage of households without a car. In 2015, 6.9 percent of Austin households lacked a car, and decreased slightly to 6 percent in 2016. The national average was 8.7 percent in 2016. Austin averaged 1.65 cars per household in 2016, compared to a national average of 1.8. [168]