CarMax, Inc., the nation’s largest retailer of used cars, has been named by FORTUNE magazine as one of its 2010 “100 Best Companies to Work For.” This is the sixth consecutive year CarMax has been named to the list. CarMax ranks No. 56 on the list for 2010.
The list and related stories will appear in the February 8 issue of FORTUNE, available on newsstands January 25, 2010 and now at www.fortune.com/bestcompanies.
“I’ve never been more proud of our associates. Their resilience during this challenging last year has been extraordinary and it continues to strengthen our company culture,” said Tom Folliard, president and chief executive officer of CarMax. “Their quick response to the changing retail environment and dedication to improving the car buying experience for our customers is deeply valued.”
The company is now focused on building a better CarMax for its more than 13,000 associates by further developing its work force, improving the car buying experience for its customers, and discovering efficiencies by continuously examining processes for opportunities to reduce waste.
CarMax offers consumers a no-hassle, no-haggle car-buying experience and a broad selection of high-quality used vehicles. CarMax does not sell flood- or frame-damaged vehicles, and guarantees a clean title and accurate odometer readings on its cars. All vehicles are thoroughly inspected and reconditioned with a five-day, money-back guarantee and a limited 30-day warranty (60-day in Conn.).
To pick the 100 Best Companies, FORTUNE partners with the Great Place to Work Institute to conduct the most extensive employee survey in corporate America . Three hundred forty-three companies participated in this year’s survey. Two-thirds of a company’s score is based on the results of a random sample of employees from each company. The survey asks questions related to their attitudes about the management’s credibility, job satisfaction and camaraderie. The other third of the scoring is based on the company’s responses to questions about pay and benefit programs and a series of open-ended questions about hiring, communication and diversity.
About CarMax
CarMax, a FORTUNE 500 company, and one of the FORTUNE 2010 “100 Best Companies to Work For,” is the nation’s largest retailer of used cars. Headquartered in Richmond, Va., we currently operate 100 used car superstores in 46 markets. The CarMax consumer offer is structured around four customer benefits: low, no-haggle prices; a broad selection; high quality vehicles; and customer-friendly service. During the twelve months ended February 28, 2009, the company retailed 345,465 used vehicles and sold 194,081 wholesale vehicles at our in-store auctions. For more information, access the CarMax website at http://www.carmax.com.
