CarMax has its headquarters in Richmond, Virginia and is one of the leading dealers of used cars in the United States. It was founded in 1993 by Richard L. Sharp and William Austin Ligon. The company operates in sales and auto finance segments. Apart from selling used vehicles, the company also has new car franchises with Chrysler Corporation, Mitsubishi Motors, Toyota, and Nissan. Additionally, the company also offers to recondition and repair vehicles. CarMax sells new vehicles at great prices that attract a wide range of customers. The company has a clear mission and vision and has high values that are the driving force of its success.
CarMax Mission Statement
The CarMax mission statement is “To drive integrity by being honest & transparent in every interaction.” The company aims to ensure that when a customer is buying a used car, he gets a fair deal. The mission statement strongly asserts that the company believes in being honest and transparent, taking customers’ experience to the next level. Moreover, the company has “no-haggle” i.e. no-bargain prices that have proved to be a breakthrough in the automotive segment. With this, CarMax has been successful in taking the stress out of car buying. Over the years, the company has exceeded customers’ expectations and has become the largest used car retailer in the US.
CarMax Vision Statement
The CarMax vision statement says “Our vision is for everyone, everywhere to have the same opportunity to reach their full potential. “
This vision indicates that the company values diversity and inclusivity. CarMax envisions that everyone associated with the company gives his best and reaches new heights of success. People from different backgrounds are valued and motivated to bring forth innovative ideas that will help the company progress as a whole.
The company is committed to making a positive difference to society through the Carmax Foundation Programs in areas like educational & workforce success, health & wellness, and resilient communities. CarMax also has matching gift programs and employee volunteering.
CarMax Core Values
The CarMax core values are all about doing the right thing, putting customers’ preferences in the first level, followed by winning together. It also commits to going for great jobs along with being committed to social responsibility and diversity. The core values of the organization revolve around the following four principles.
- Doing the right thing: The company wants to be fair in its dealings always.
- Keeping its people (customers and employees) first: It reflects that the company values all the people associated with it.
- Winning together: The company wants to grow and play a key role in others’ success as well.
- Aiming for greatness: This reveals that the company wants to achieve big targets.
CarMax mission and vision suggest that the company has a solid foundation of integrity and transparency. Moreover, its culture of innovation, inclusion, and diversity is grounded in its core values of winning together. Being fair to everyone and playing an instrumental role in everyone’s growth is important for CarMax. No wonder, the company has a huge customer base and is growing from strength to strength.