"CarMax is America's largest used-car seller as well as a Fortune 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 company offices in Richmond, Virginia. As of November 30, 2018, CarMax ran 195 areas in 95 tv media markets.

While CarMax stores focus on advertising used vehicles, the firm got its first new car franchise business with Chrysler Corporation in 1996. By 1999, it added brand-new automobile franchise business for Mitsubishi Motors, Toyota, and also Nissan also. As of November 2018, the only CarMax brand-new car dealers that continue to be are the two Toyota shops situated in Kenosha, Wisconsin and also Laurel, Maryland."