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CarMax Inc. (ticker: KMX) is a retailer of used vehicles based in Richmond, Virginia. The company opened its first location in September 1993 under the Circuit City umbrella and has since expanded into two primary segments: CarMax Sales Operations and CarMax Auto Finance, the latter operating out of Kennesaw, Georgia. As of January 2025, CarMax operates 253 retail locations across 41 states, supported by customer experience centers and on-site wholesale auctions for licensed dealers.
Corporate Structure and Workforce
With over 10,001 employees nationwide, CarMax focuses on associate development and upward mobility. Programs such as the Technician Development Curriculum and the Military Automotive Technician Academy (MATA) provide structured training opportunities. CarMax has been recognized on Fortune's 100 Best Companies to Work For list from 2005 through 2023.
CarMax by Julien Doclot
Developments and News
• In June 2025, CarMax and Edmunds associates participated in the biennial Innovation Garage event, which focused on leveraging artificial intelligence to enhance decision-making processes.
• In mid-2025, Terence Rasmussen, VP of Business and Corporate Development, discussed the company's offerings for used electric vehicles at the New York Stock Exchange, outlining features that assist in assessing battery health and home-charging options.
• CarMax was named one of PEOPLE Magazine’s “2025 Companies That Care,” which highlights its volunteer initiatives and community engagement through The CarMax Foundation.
• In 2024, CarMax adjusted its return policy, reducing its money-back guarantee from 30 days to 10 days based on customer feedback and operational considerations.
Financial and Strategic Analysis
As of September 25, 2025, CarMax shares closed at $48.43 on the New York Stock Exchange, reflecting a decline of 15.11% with a trading volume of 432,156 shares. The company's asset mix integrates retail margins and financing revenue, while inventory turnover, typically eight to ten times per year per store, serves as a key efficiency metric. The omni-channel platform enables customers to conduct transactions online, in-store, or via curbside pickup, positioning CarMax competitively against digital-native rivals.
| Metric | Value |
|---|---|
| Stock Price (2025-09-25) | $48.43 |
| Percentage Change | –15.11% |
| Trading Volume | 432,156 |
| Business Segments | Sales Operations; Auto Finance |
| Number of Locations (Jan 2025) | 253 |
Market Position and Industry Context
CarMax is recognized as the largest used-vehicle retailer in the United States. It competes with online-focused platforms such as Carvana, CarGurus, Vroom, and Shift Technologies. The omni-channel approach—integrating home delivery, contactless pickup, and in-store experiences—addresses shifts in consumer shopping habits. With a typical store size of approximately 59,000 square feet carrying 300–400 vehicles, CarMax’s scale and brand recognition assist in maintaining its market share.
tl;dr
On September 25, 2025, CarMax (KMX) shares traded at $48.43, down 15.11% on significant trading volume. The company is progressing with its omni-channel strategy, demonstrated through a June Innovation Garage event focused on AI and an EV presentation at the NYSE. Initiatives like the MATA program and recognition as a "2025 Company That Care" reflect ongoing workforce and community engagement efforts. Future performance may depend on inventory efficiency, online-to-offline integration, and competitive positioning against digital entrants in the used-car market.
