"CarMax is America's biggest used-car merchant as well as a Lot of money 500 firm. The corporate entity behind the formation of CarMax was Circuit City Shops, Inc. The initial CarMax used-car store opened up in September 1993, 1.7 miles (2.7 kilometres) from Circuit City's corporate offices in Richmond, Virginia. Since November 30, 2018, CarMax ran 195 areas in 95 television media markets.

While CarMax stores concentrate on marketing used vehicles, the company obtained its very first brand-new auto franchise with Chrysler Corporation in 1996. By 1999, it included brand-new automobile franchises for Mitsubishi Motors, Toyota, as well as Nissan also. Since November 2018, the only CarMax brand-new car dealerships that stay are both Toyota stores located in Kenosha, Wisconsin and Laurel, Maryland."