RICHMOND, Va., Feb. 21 /PRNewswire-FirstCall/ -- CarMax, Inc. (NYSE: KMX),
the nation's largest retailer of used cars, has been named by FORTUNE magazine
as America's most admired company in automotive retailing, services. This is
the first time CarMax has ranked No. 1 on the list. The list and related
stories appear in the March 6 issue on newsstands February 27 and at
http://www.fortune.com in February.
"CarMax is honored to be recognized as a 'most admired' company in
automotive retailing, services," said Austin Ligon, president and chief
executive officer of CarMax. "We believe that this recognition is an
acknowledgement of how we're revolutionizing our industry. We're giving
customers what they want in a car buying experience by creating a company
culture that is focused on being ethical, trustworthy, and respectful of our
customers."
CarMax offers consumers a no-hassle, no-haggle car-buying experience and a
broad selection of high-quality used vehicles. CarMax guarantees the quality
of its cars, does not sell flood- or frame-damaged vehicles, and guarantees a
clean title and accurate odometer readings on its cars. All vehicles are
thoroughly inspected and reconditioned, and CarMax offers a five-day, money-
back guarantee and a limited 30-day warranty.
To compile the most admired list, FORTUNE enlisted the assistance of Hay
Group. Hay Group surveyed industry executives and directors, as well as
security analysts, asking them to rate companies in industry categories
according to eight criteria: innovation; employee talent; use of corporate
assets; social responsibility; quality of management; financial soundness;
long-term investment; and quality of products/services.
In addition to being named one of FORTUNE's most admired companies, CarMax
has been named to FORTUNE's annual list of "100 Best Companies to Work For"
for the past two years.
About CarMax
CarMax, a FORTUNE 500 company, and one of the FORTUNE 2006 "100 Best
Companies to Work For," is the nation's largest retailer of used cars.
Headquartered in Richmond, Va., CarMax currently operates 67 used car
superstores in 31 markets. CarMax also operates seven new car franchises, all
of which are integrated or co-located with its used car superstores. During
the twelve month period ended November 30, 2005, the company sold 285,950 used
cars, which is 93 percent of the total 306,820 vehicles the company retailed
during that period. For more information, access the CarMax website at
http://www.carmax.com.
SOURCE CarMax, Inc.
CONTACT: Media Contacts: Lisa Van Riper, Assistant Vice President,
Public Affairs, 1-804-935-4594, or Trina H. Lee, Public Relations Manager,
1-804-747-0422 ext.4197; or Investor Contacts: Dandy Barrett, Assistant Vice
President, Investor Relations, 1-804-935-4591, or Celeste Gunter, Manager,
Investor Relations, 1-804-935-4597, all of CarMax, Inc.