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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 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 at each store); low, no-haggle pricing; guaranteed ...
The Edmunds.com True Market Value Used Vehicle Appraiser estimates the actual transaction prices for used vehicles bought and sold by dealers and private parties. [27] In 2020, Edmunds launched a partnership with CarMax that allows a driver to receive a no-obligation cash offer for their vehicle which can be redeemed at any CarMax location. [28]
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The team rejected several proposed names, including "Honest Rick’s Used Cars" and "Sharp Motors" before choosing CarMax. [2] Co-founded by Sharp in 1993, CarMax grew to $12.5 billion in annual sales at approximately 135 locations by 2013. [2] Sharp hired Thomas J. Folliard as one of CarMax's first employees.
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]
Amerigroup (Virginia Beach) Boeing Defense, Space & Security (Arlington County) Bowlero Corporation (Mechanicsville) Brink's ; CACI ; Capital One ; CarMax ; Dollar Tree ; Dominion Energy ; Estes Express Lines ; Ferguson Enterprises (Newport News) Five Guys ; Food City ; Freddie Mac
Evolve Motorcycles was established by Benjamin Plum, Mazdack Rassi and Lex Kendall as a concept project c. 2008, started its own R&D in 2009 [8] and registered in 2010. [9] The company was based out of Jersey City, NJ with branches registered in several states including Hawaii, Indiana, Minnesota, Maryland, California, Florida and New York. [10]