CarMax

CarMax, Inc. is the largest used vehicle retailer in the United States, founded in 1993 and headquartered in Richmond, Virginia. Known for its transparent and customer-centric approach, CarMax has revolutionized the used car buying experience with innovations like no-haggle pricing and comprehensive vehicle inspections. Serving millions of customers nationwide, CarMax operates across 41 states with over 250 retail locations and continues to expand its footprint in the automotive retail industry.

With a strong focus on integrity and honesty, CarMax's business model encompasses retail used vehicle sales, vehicle financing through CarMax Auto Finance, and vehicle auctions, making it a dominant player in the used vehicle retail sector. Employing nearly 30,000 team members, CarMax drives substantial annual revenue exceeding $28 billion as of 2025 while investing in technology to improve online sales and customer service platforms, including significant operations linked to Miami, Florida.

When Was CarMax, Inc. Established?

Founded: 1993
Headquarters: Richmond, Virginia, USA
Industry: Used Vehicle Retail
Number of Employees: 29,836
Annual Revenue: $28.2 billion (2025)
Locations: 253 retail stores across 41 states as of January 2025

CarMax, Inc. Mission Statement

"To drive integrity by being honest and transparent in every interaction."

What Is CarMax Known For?

CarMax stands out as the largest used vehicle retailer in the U.S., distinguished by its unique customer-first approach and innovative business practices.

No-Haggle Pricing

CarMax's no-haggle pricing policy eliminates the stress of negotiation for buyers, providing a transparent and straightforward purchasing process that fosters consumer trust and satisfaction.

Comprehensive Vehicle Inspections

Every vehicle sold by CarMax undergoes rigorous inspections to ensure quality and reliability, giving customers confidence in their used car purchases and reducing the risk associated with buying pre-owned vehicles.

Customer-Centric Services

From personalized sales assistance to flexible financing options via CarMax Auto Finance, the company emphasizes service excellence, enhancing the overall customer experience in both physical retail locations and online platforms.

How Many Locations Does CarMax, Inc. Operate?

As of January 2025, CarMax operates 253 retail locations across 41 states, including key markets like Florida where Miami serves as a strategic hub within their expansive network.

This extensive presence allows CarMax to capture approximately 3.7% of the U.S. market share of vehicles aged 0-10 years as of 2024, making it a dominant force in used car retail.

Which States Does CarMax Operate In?

CarMax's operations span 41 states, from major metropolitan areas like Miami, Florida, to other significant locations across the U.S., ensuring broad accessibility for customers seeking quality used vehicles.

Who Owns CarMax, Inc.?

CarMax, Inc. is a publicly traded company headquartered in Richmond, Virginia, owned by a diverse group of institutional and individual investors. The company remains committed to strong corporate governance and ethical business practices.

Is CarMax, Inc. Currently Hiring?

You can check out the open positions that CarMax, Inc. has right here on OysterLink.