CarMax: Disrupting the Used-Car Market
By: and and
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- Synopsis
- In 2012, CarMax was the leading retailer of second hand cars in the United States and a fast-growing competitor in the used car auction market. After their founding in 1993 by Circuit City's management, CarMax had grown rapidly. They had been profitable since 2000 and independent from their parent company since 2002. While Circuit City went bankrupt in 2009 under pressure from Best Buy and challenging economic conditions, CarMax flourished and expanded through the economic crisis. Fiscal 2012 revenue reached $10.5 billion and net income, a record $413 million. However, CarMax still only accounted for less than 3% of the fragmented second hand car market. Additionally, they were keen to avoid the fate of their parent and to stay ahead of copy-cat competitors. What should CarMax do to grow its market position and continue its success in used car retailing and auctioning?
- Copyright:
- 2013
Book Details
- Book Quality:
- Publisher Quality
- Publisher:
- Harvard Business Publishing
- Date of Addition:
- 08/02/16
- Copyrighted By:
- HBS
- Adult content:
- No
- Language:
- English
- Has Image Descriptions:
- No
- Categories:
- Nonfiction, Business and Finance
- Submitted By:
- Bookshare Staff
- Usage Restrictions:
- This is a copyrighted book.
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