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CarMax, Inc.



CarMax is a holding company and its operations are conducted through its subsidiaries. CarMax is a retailer of used cars, based on the 337,021 used vehicles it retailed during the fiscal year ended February 2007. During fiscal 2007, CarMax operated 77 used car superstores in 36 metropolitan markets. Additionally, CarMax sold 208,959 wholesale vehicles in fiscal 2007, through its onsite auctions. The company purchases, reconditions and sells used vehicles. All of the used vehicles the company retails are thoroughly reconditioned to meet mechanical, electrical, safety, and cosmetic standards, and each vehicle must pass an inspection before being offered for sale. Approximately 85% of the used vehicles CarMax retails are 1 to 6 years old with fewer than 60,000 miles. CarMax also offers a selection of used vehicles at each superstore that are more than six years old or have more than 60,000 miles.


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