CarMax, Inc., including its wholly owned subsidiaries, is one of the largest retailers of used vehicles in the US. As on February 28, 2017, the company operated 173 used car stores in 86 metropolitan markets. The company primarily operates in the US.
The company operates through two business segments: CarMax sales operations and CarMax auto finance (CAF). The CarMax sales operations segment is engaged in providing auto merchandising and other services. The segment operates through four business divisions: used vehicle, wholesale vehicle, new vehicles, and other businesses. The company's used vehicle division purchases, reconditions, and sells a large selection of used vehicles.
The used car selection covers various brands from manufacturers. In FY2017 the company sold 671,294 used vehicles. In addition 85% of the used vehicles sold by the company were up to six years old. CarMax's wholesale division is engaged in the wholesale auction of vehicles. The division sells vehicles that do not meet the company's retail standards to licensed dealers through on-site wholesale auctions.
In FY2017, CarMax sold 391,686 wholesale vehicles at its in-store auctions conducted weekly or bi-weekly at 72 of its 173 used car superstores. The company also sells new vehicles at two locations under franchise agreements with three car manufacturers. In FY2017, new vehicles comprised 1% of the company's total retail vehicle unit sales. CarMax also provides customers with a full range of other related products and services, including the sale of extended service plans (ESP), guaranteed asset protection (GAP) and accessories, the appraisal and purchase of vehicles directly from consumers, and vehicle repair service.
It sells ESPs on behalf of unrelated third parties who are the primary obligors. In FY2017, the CarMax sales operations segment recorded revenues of $15,875.1 million, an increase of 4.8% as compared to FY2016. The CAF segment provides vehicle financing to customers purchasing vehicles at CarMax. CAF provides financing for qualified customers at competitive market rates of interest.
The majority of CAF income is generated by the spread between the interest rates charged to customers and the related cost of funds. Substantially all of the loans originated by CAF are funded through securitization transactions. In FY2017, the segment financed 44.2% of the company's retail used vehicle unit sales, after the effect of three day payoffs and vehicle returns. The CarMax auto finance segment recorded revenues of $369 million in FY2017, a decrease of 5.9% over FY2016.
Scope of the Report
- About the Company - Historical Details, Current Ownership Structure and basic overview of CarMax, Inc. in terms of revenue, net income, and operating income.
- Financials - Details about CarMax, Inc. listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
- Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
- Company SWOT Analysis - Outlines CarMax, Inc.’s strengths, weaknesses, and opportunities and threats facing the company.
- Recent Developments - Showcases CarMax, Inc.’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
- Strategic Evaluation - Provides an overview of CarMax, Inc.’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
- Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.
Key Questions Answered
- What domain does CarMax, Inc. operate and what are key points about it?
- What is the product / service portfolio of CarMax, Inc.?
- How has CarMax, Inc. performed financially from the 2013?
- How does CarMax, Inc. rank among its peers in terms of revenue and market share?
- What are CarMax, Inc. strengths and weaknesses and what opportunities and threats does it face?
- What are CarMax, Inc.’s main growth strategies and how successful has the company been at implementing them?
- What is the in-house technical capability of CarMax, Inc.? Where does it procure / outsource it?
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1. About the Company
1.1 History and Basic Facts
1.2 Ownership Structure and Key Executives
1.3 Head Office
1.4 Other Locations & Subsidiaries
1.5 List of Competitors
1.6 Employee Count & Distribution
2.1 Company Type (Listed / Unlisted)
2.2 Annual Statements
2.3 Key Financial Highlights
2.4 Region-wise Breakdown
3. Product / Services
4. SWOT Analysis
4.1 SWOT Overview
5. Recent Developments
5.1 Mergers & Acquisitions
5.2 Partnerships, Collaborations & Joint Ventures
5.3 New Product Launches
5.4 Business Expansion / Divestment
6. Strategic Evaluation
6.1 Corporate Strategy
6.2 Legal Issues
6.3 Analyst Outlook
7. Technology Landscape
7.1.1 Industry Snapshot
7.1.2 IT Spend
7.1.3 Key Information Technology Trends
7.2.1 IT Overview
7.2.2 Key IT Technologies
7.2.3 Recent IT Initiatives
7.2.4 IT Outsourcing Engagements
7.2.5 Key IT Management
7.2.6 CIO/CTO Profile
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Fig.1: Company Snapshot
Fig.2: Locations Listing on Map
Table.1: Ownership Structure
Table.2: List of Competitors
Table.3: Annual Statements
Table.4: Key Financial Highlights
Table.5: Region-wise Breakdown
Table.6: Product/Services Overview
Table.7: Mergers & Acquisitions
Table.8: Partnerships, Collaborations & Joint Ventures
Table.9: New Product Launches
Table.10: Business Expansion / Divestment
Table 11: IT Budgets
Table 12: Key IT Management (CIO / CTO)
Table 13: IT Deals undertaken in the past years