Top company by employee – 74 – CarMax – Virginia US
Industry: Retail – Specialty
Ownership: Publicly quoted/held
Previous rank: 91
2011 revenue ($ millions): $10,003
What makes it so great?
The car dealership runs 117 no-haggle used-car lots. CEO Tom Folliard stays accessible to all employees via town hall meetings and steak cookouts.
A better way to buy used cars
We always knew there had to be a better way to buy used cars. One that would make the process easy and fun. So we created CarMax, and we’ve been changing the way America buys cars since we opened our first store in Richmond, Virginia, in 1993.
Our business concept
- We offer tens of thousands of used cars across the country
- Every car we sell has a low, no-haggle price
- Our vehicles are superior in quality. Only the best cars meet our high standards
- We’ll buy your car whether you buy from us or not
- You’ll get friendly customer service
Through hard work and dedication, we’ve grown from that one store in Richmond to more than 100 stores across the country. We’ve sold more than 4 million cars. We’ve appraised more than 16 million. And the news is buzzing with stories about CarMax, the experience we offer our customers, and the work environment we provide for our Associates.
CarMax is listed on the FORTUNE® 500 list, and we’ve been named one of FORTUNE’s “100 Best Companies to Work For” nine years running.
How did we do it?
Quite simply, CarMax was built on the fundamental principle of integrity, reflected in the way we serve our customers, treat each other, and deliver our products.
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From FORTUNE Magazine, February 4, 2013 ©2013 Time Inc.
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