CarMax has named Ed Hill its new chief operating officer, following the retirement of Cliff Wood, the nation's largest used-vehicle retailer has announced.
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Delayed tax refunds led to a slightly higher gross profit per wholesale unit at CarMax, the company reported during its quarterly earnings call for the quarter ending May 31.
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CarMax has opened a store in Murrieta, Calif., that will include a four-lane auction and serve as the West Coast reconditioning hub for the nation's largest retailer of used cars.
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NextGear Capital has made an agreement with CarMax that allows dealers to use NextGear Capital lines of credit at all 68 CarMax auction locations.
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The Nissan Altima was the No. 1 choice for used car shoppers at CarMax for the second year in a row, with the Chevrolet Malibu coming in at No. 2.
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According to data from more than 130 locations across the country and company's inaugural report, the Nissan Altima is by far the most frequently test-driven and purchased make and model at the used-vehicle retailer.
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According to the used-car retailer, one in six American adults plans to purchase a car with their tax refunds this year.
Read More →RICHMOND, VA - CarMax, Inc. is currently hiring for approximately 90 positions for the company's new store in Chattanooga, Tenn.
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