RICHMOND, Va.--(BUSINESS WIRE)--May. 26, 2009--
Practical vehicles that provide basic transportation are the way drivers
in today’s economy view their cars, according to an online survey
conducted for CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used
cars.
The overwhelming choice when asked: Thinking about your car, would you
say that it…was “gets me from point A to point B,” with 71 percent of
the votes. Having a car that can “do it all without breaking the bank”
also ranked high among those polled, another indicator that today’s
drivers view their car in terms of need rather than want.
“In today’s challenging economic environment, consumers are focused on
making smart buying decisions,” said
Tom Folliard
, president and chief
executive officer of CarMax. “Buying a used car makes sense for shoppers
looking for a vehicle that meets their transportation needs, yet remains
affordable.”
In addition to getting from point A to point B, many adults view their
cars in other practical ways. Nearly one in ten adults considers their
car to be an office with a window, as they spend most of their day
driving. Vehicles often also serve a very useful purpose for parents,
according to the survey, as 14 percent view their car as a taxi service
for their children.
The following are the results of the recent poll that asked adults to
complete the following sentence: Thinking about your car, would you say
that it…
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Response
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Percent
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Gets Me From Point A to Point B
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71%
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Has To Do It All Without Breaking The Bank
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30%
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Defines Who I Am
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20%
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Is Where I Go To Get Away
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17%
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Is A Taxi Service For My Kids
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14%
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Is My Office With A Window
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8%
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I Don’t Drive a Car
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6%
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The survey was conducted by Ipsos Public Affairs on behalf of CarMax.
The national sample consisted of more than 1,000 U.S. adults who were
interviewed online April 30 – May 4, 2009. Respondents were given the
option of choosing more than one answer.
Currently, there are more than 4,000 used cars at carmax.com priced
under $12,000, with thousands more searchable by price range. Each
vehicle is reconditioned, goes through a 125-point inspection for
quality and comes with a free online Vehicle History Report. Consumers
can search vehicles from 30 top brands by fuel
economy and features, read
customer reviews, review reliability ratings by J.D. Power and
Associates, and obtain safety ratings by the National Highway Traffic
Safety Administration, all on carmax.com. All vehicles come with a
five-day, money-back guarantee and a limited 30-day warranty (60-day in
Conn.).
About CarMax
CarMax, a FORTUNE 500 company and one of the FORTUNE 2009
“100 Best Companies to Work For,” is the nation’s largest retailer of
used cars. Headquartered in Richmond, Va., CarMax currently operates 100
used car superstores in 46 markets. The CarMax consumer offer provides
our customers the opportunity to shop for vehicles the way they shop for
items at other national retailers, and it 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, 2009, the company retailed 345,465 used
vehicles and sold 194,081 wholesale vehicles at its in-store auctions.
For more information, access the CarMax website at http://www.carmax.com.
Source: CarMax, Inc.
Media:
CarMax, Inc.
Trina
H. Lee, Director, Public Relations
804-747-0422, ext. 4197
or
Elia
C. Imler, Assistant Manager, Public Relations
804-747-0422, ext.
4029