“Solar Compatible” Stores Introduced to Energy-Saving System

RICHMOND, Va. (March 9, 2012) - CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, is reducing its energy consumption with recently installed solar panels at several superstore locations. 

Recently, the two CarMax stores in the Phoenix, Ariz. area, as well as the location in Irving, Texas started using solar power. 

A solar panel system was first introduced at the CarMax in Fort Worth, Texas in the fall of 2010 and exceeded energy-saving expectations. To date, the energy generated through the Ft. Worth system has prevented carbon dioxide emissions equivalent to planting more than 19,000 trees.

A team at CarMax, in partnership with GridPoint, a smart energy solutions provider, then researched additional store locations that would have similar success with a solar panel system. Factors in this research included local electricity rates, energy consumption, and site characteristics such as store size and amount of un-shaded roof space.

“CarMax never stops looking for ways to improve our facilities and reduce our energy use,” said Ed Kelly, business manager of construction. “The solar panels are having a bigger impact than we ever expected on the way we get and use energy, and this success is opening new doors to the ways we positively impact our communities and our business.”

CarMax will continue to look for energy saving opportunities in new and existing stores, and is committed to responsible energy practices.

About CarMax
CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the FORTUNE 2011 “100 Best Companies to Work For,” is the nation’s largest retailer of used cars. Headquartered in Richmond, Va., CarMax currently operates 108 used car superstores in 53 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, 2011, the company retailed 396,181 used cars and sold 263,061 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at http://www.carmax.com/.