CarMax Investor Relations Material

Carmax is a well-established automotive retail company that operates in the United States. With a focus on providing a hassle-free car buying experience, Carmax offers a wide selection of pre-owned vehicles across its extensive network of dealerships or through its online platform. Customers can browse and compare vehicles, access vehicle history reports, and benefit from transparent pricing from start to finish. Carmax is known for its no-haggle pricing policy and comprehensive vehicle inspections, something that helps customers to have peace of mind when purchasing a used car.

CarMax, a leading used car retailer in the United States, sources its vehicles from a variety of channels. They acquire cars through trade-ins from customers, auctions, and purchases from wholesalers. CarMax prides itself on being able to offer a large selection of various cars with everything between small and agile roadsters, modern EVs, and larger family vehicles.

CarMax operates both retail spaces and an online store. For customers who prefer to see the car they’re interested in buying in the metal, these retail spaces are strategically located throughout the United States. Customers who instead prefer to shop online can browse through CarMax’s website to see an overview of all cars currently available for purchase. These cars are then delivered straight to the customer's home, or to the retail space that’s most convenient for the customer.

One of the things that makes CarMax an appealing choice for many customers is the fact that the company allows prospective customers to test drive their cars for 24 hours. Allowing the customer to take the care home overnight and try it out in real-life situations is something that has become very appreciated. That’s not the only customer-centric feature that CarMax offers. The company also has a policy of “love it or leave it”, which in turn means that customers are free to return their car after 30 days and get their money back if they’re unhappy with the vehicle that they’ve chosen. The used car market, especially in the US, is massive and when looking at companies competing in the same market segment as CarMax we find names such as Carvana and Penske.