CarMax, Inc.

What does CarMax own?
CarMax operates as a single brand covering used vehicle retail, wholesale auctions, and CarMax Auto Finance. It does not own separate consumer-facing brand names.

Is CarMax publicly traded?
Yes. CarMax trades on the NYSE under ticker KMX and is a component of the S&P 500.

Who founded CarMax?
CarMax was created inside Circuit City Stores in 1993, with Austin Ligon as its first CEO. It was spun off as an independent company in 2002.

Where is CarMax headquartered?
CarMax is headquartered in Richmond, Virginia, USA, where the first store opened.

Who owns CarMax?
CarMax is owned by public shareholders with no controlling investor. Bill Nash serves as President and CEO.

What is CarMax's revenue?
CarMax reported fiscal 2025 net revenues of $26.4 billion for the year ended February 28, 2025, with net earnings of $500.6 million.

How many stores does CarMax have?
CarMax operates more than 250 stores across the United States, having opened its 250th location in fiscal 2025.

CarMax was conceived inside Circuit City Stores in the early 1990s, born from a strategy to diversify the electronics retailer into a defensible consumer category. The first CarMax store opened in Richmond, Virginia in 1993 under CEO Austin Ligon, pioneering a no-haggle fixed-price model that was a direct response to the adversarial negotiation culture of traditional used car sales.

The concept grew slowly at first, proving the model in a handful of stores before accelerating expansion in the 2000s. CarMax was spun off from Circuit City in 2002 as an independent public company, well before Circuit City's 2008 bankruptcy.

The 2010s brought national scale, crossing 100 and then 200 stores as the format proved replicable across markets. The company's integration of online and physical retail through the CarMax.com platform and ship-to-store logistics created an omnichannel model that pure online competitors could not fully replicate without physical inventory.

In fiscal 2025 the company opened its 250th store and reported its third consecutive quarter of retail unit growth after weathering a difficult period of elevated interest rates and compressed affordability that had slowed used vehicle purchases industry-wide.

CarMax's sustainability activities focus on vehicle reconditioning efficiency, store energy management, and community investment through the CarMax Foundation, which supports education and youth programs in its operating markets.

The company's contribution to sustainability is indirect: used vehicle retail extends the useful life of cars, a form of circular economy participation, though CarMax does not market itself as a sustainability brand or hold certifications like B Corp status.

• Fortune 500: CarMax ranks on the Fortune 500 by revenue.
• Fortune 100 Best Companies to Work For: CarMax has appeared repeatedly on the list, recognized for workplace culture.
• Fortune World's Most Admired Companies: The company has been recognized in the specialty retail category.

Safety recall sales practices: CarMax has faced scrutiny and consumer advocacy criticism over selling used vehicles with unrepaired safety recalls, a legal practice under federal law for used cars that advocates argue should be restricted. The company discloses recall status to buyers.

Financing practices: CarMax Auto Finance, like other dealer-affiliated lenders, operates under regulatory oversight of lending disclosures, rates, and collections, with periodic scrutiny of dealer-arranged financing industry-wide.

Wholesale auction practices: Dealer auction operations are subject to standard industry regulation and dispute resolution over vehicle condition and title issues.