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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]
Sharp was born in Washington D.C., on April 12, 1947, and raised in nearby Alexandria, Virginia. [1] [2] He graduated from the former George Washington High School in Alexandria in 1965. [2] Sharp attended the University of Virginia, where he studied electrical engineering during the middle of the 1960s.
The company was an early adopter of the "haggle-free" approach to pricing used cars, later used by competitor CarMax and online used car retailers like Carvana. While most small used car dealers sell vehicles " as is ", Enterprise offers a 7-day/1,000-mile buyback policy, a 12-month/12,000-mile limited powertrain warranty and 12 months of ...
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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]
The first location opened in Richmond, Virginia in September 1993. CarMax grew slowly for its first four years as the team refined the basic concept, then went public through an IPO as a "tracking stock" of Circuit City in February 1997. The offering was managed by Morgan Stanley and Goldman Sachs, and raised more than $400m for a 20% interest ...
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