"CarMax is America's biggest used-car merchant as well as a Fortune 500 business. The business entity behind the formation of CarMax was Circuit City Stores, Inc. The first CarMax used-car shop opened up in September 1993, 1.7 miles (2.7 km) from Circuit City's corporate workplaces in Richmond, Virginia. Since November 30, 2018, CarMax ran 195 places in 95 tv media markets.

While CarMax stores focus on advertising used lorries, the business got its first new auto franchise with Chrysler Company in 1996. By 1999, it included new automobile franchises for Mitsubishi Motors, Toyota, and Nissan also. As of November 2018, the only CarMax new automobile car dealerships that continue to be are the two Toyota shops located in Kenosha, Wisconsin as well as Laurel, Maryland."