CarMax Celebrates 30-Year Anniversary by Ringing the NYSE Closing Bell October 10
CarMax, the nation’s leading retailer of used cars, is celebrating a remarkable milestone as it rings the Closing Bell® at the New York Stock Exchange today. This momentous occasion marks 30 years since CarMax revolutionized the used car industry, forever changing the way people buy and sell pre-owned vehicles.
Bill Nash, the President and CEO of CarMax, along with Laura Donahue, the VP of Corporate Social Responsibility and a founding CarMax associate, will have the honor of ringing the Closing Bell®. Joining them will be several other founding associates and members of CarMax’s esteemed senior leadership team. This event serves as a testament to the incredible journey CarMax has embarked upon since opening its first store on September 18, 1993.
Over the past three decades, CarMax has experienced tremendous growth, expanding to more than 240 stores across 41 states nationwide. With a team of over 30,000 dedicated associates, CarMax has sold an astonishing 11 million cars at retail and an additional 7 million cars at auction. This remarkable achievement has propelled CarMax to become a Fortune 200 company, solidifying its position as a leader in the automotive retail industry.
CarMax’s commitment to providing a truly personalized car buying experience has been a driving force behind its success. By offering customers the flexibility to choose between online and in-store interactions, CarMax has set a new standard for integrity, honesty, and transparency in the industry. The company’s no-haggle pricing approach has resonated with customers, fostering trust and confidence in every transaction.
Reflecting on the company’s journey, Bill Nash expressed his pride in CarMax’s ability to reshape the industry not once, but twice. He emphasized the importance of CarMax’s core values, which continue to guide the company’s mission. Nash also highlighted CarMax’s dedication to offering a uniquely personalized car buying experience, allowing customers to have full control over their purchasing journey.
The celebration at the New York Stock Exchange is a testament to CarMax’s unwavering commitment to excellence and innovation. As the company enters its fourth decade, it remains focused on reshaping the industry once again, leveraging technology and customer-centric approaches to deliver an even more tailored car buying experience.
CarMax’s impact extends beyond its impressive sales figures. The company’s financing arm, CarMax Auto Finance, has become one of the largest providers of used vehicle financing. With nearly $9 billion in receivables originated during the fiscal year ended February 28, 2023, CarMax Auto Finance continues to support customers in their car buying journey.
CarMax’s dedication to making a positive impact on people, communities, and the environment is evident in its 2023 Responsibility Report. The company’s commitment to corporate social responsibility has been recognized for 19 consecutive years, earning CarMax a spot on the prestigious Fortune 100 Best Companies to Work For® list.
As CarMax celebrates its 30th anniversary, the company remains committed to driving integrity, honesty, and transparency in the automotive retail industry. With its extensive network of stores, passionate associates, and unwavering dedication to customer satisfaction, CarMax is poised to continue revolutionizing the used car industry for years to come.
For more information about CarMax and its commitment to providing a personalized car buying experience, visit their website at www.carmax.com.