Company Information

CARMAX OPENS NEW SECOND STORE IN SAN ANTONIO

For Media Inquiries Only Contact:

Laura Donahue
Vice President, Public Affairs
(804) 747-0422 ext. 4434
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Trina Lee
Director, Public Relations
(804) 747-0422, Ext. 4197
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Chris Wilmore
Assistant Public Relations Manager, New Media
(804) 747-0422, Ext. 4773
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Elia Imler
Assistant Public Relations Manager
(804) 747-0422, Ext. 4029
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RICHMOND, Va. (March 06, 2008) - CarMax, Inc., (NYSE: KMX), the nation's largest retailer of used cars, officially opened its second store in San Antonio, Texas today. The Live Oak CarMax is located at 11880 IH-35 North. The Live Oak store is more than 13,160 square-feet, employs more than 65 people and stocks 300 to 400 used vehicles of nearly every make and model. CarMax's other location in San Antonio is at 3611 Fountainhead Drive.
 
"We have changed the way consumers buy cars," said Tom Folliard, president and chief executive officer of CarMax. "Live Oak area residents now can choose to have a no-hassle, no-haggle, fun and easy car shopping experience at CarMax, the pioneer of the used car superstore."

 
More than 200 local dignitaries and CarMax associates attended a grand opening preview event at the Live Oak location today. The event included a "Road Rally" for charity featuring local television personalities competing in a driving challenge, which included pack-the-trunk events. CarMax donates $1,000 to each participant's charity of choice, and the winner's charity receives an additional $1,000. The Road Rally participants included Lucas Mack, Features Reporter, KABB-TV, Shelly Miles, Traffic Anchor, WOAI-TV and Kellie Patterson, Traffic Reporter, KENS-TV. Organizations that received the donations were the Salvation Army of San Antonio, Adopt-A-Family and the Brighton School of San Antonio.

CarMax opened its first store in Richmond, Virginia more than 14 years ago after the company surveyed thousands of consumers to find out what they liked and disliked about car shopping. CarMax was designed according to the survey responses, giving consumers what they asked for:

Low Prices
  • No hassles, no haggling on all four parts of the car purchase:
    - The price of the vehicle, which is posted clearly on the car and on carmax.com
    - Extended service plan, consumers can choose the plan that's right for them
    - Financing, with all options displayed on a computer for the consumer to review
    - The "trade in," a written cash offer good for seven days whether or not the customer buys a car from CarMax
Broad Selection
  • Hundreds of vehicles on every lot (average 300 to 450 per store)
  • Nearly every make and model (both domestic and import used vehicles)
  • Used vehicles that are generally one to six years old with less than 60,000 miles
  • More than 25,000 vehicles online at carmax.com
  • Transfer any used car to the store nearest you
Great Quality
  • Guaranteed quality cars and no flood or frame-damaged vehicles or vehicles with odometer or title issues
  • Thoroughly inspected and reconditioned vehicles
  • Five-day money back guarantee and a limited 30-day warranty
Customer Friendly
  • A For Kids Only supervised play area
  • CarMax will buy any car, whether or not the seller purchases a CarMax vehicle
San Antonio area residents can also preview CarMax vehicles by logging onto www.carmax.com. The website features actual prices and photos of more than 25,000 CarMax vehicles available nationwide. Prospective car buyers can have a vehicle transferred from another CarMax store location to the Live Oak store for a fee.
 
About CarMax
CarMax, a FORTUNE 500 company and one of the FORTUNE 2008 "100 Best Companies to Work For," is the nation's largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 90 used car superstores in 41 markets. The CarMax consumer offer is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer-friendly service. During the twelve months ended February 28, 2007, the company retailed 337,021 used vehicles and sold 208,959 wholesale vehicles at its in-store auctions. For more information, access the CarMax website at www.carmax.com.
 
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Media Contacts:
Trina Lee, Public Relations Manager, (804) 747-0422 ext.4197
Elia Imler, Assistant Public Affairs Manager, (804) 747-0422 ext.4029