CarMax is giving away a $250 gas card every week for eight weeks to people who review cars at CarMax.com. Spokesman Chris Wilmore said the reviews are a valuable resource to web users, and so CarMax is putting a little cash on the line to help get the website’s users interacting. BizSense reported earlier in… Read more »
CarMax
CarMax laying off 600; 15 in Richmond
Goochland-based CarMax announced Wednesday it is laying of 600 service workers at dealerships and reconditioning shops all over the map. Fifteen workers in Richmond will be laid off, according to a company spokesperson. The company employs 1,150 workers at the Goochland headquarters and two local dealerships.
Searches for Hybrids increase at Carmax.com
Carmax is reporting that from March to July, searches for hybrids on carmax.com have risen 43 percent. You can read the company’s press release here.
Small cars hit puberty and get popular
CarMax, reported that searches for smaller, more fuel-efficient vehicles on the company’s website continue rising. The Mazda3 moved up from the 39th most popular search in March to the 16th most popular search in June. The VW Beetle (shudder) rose from 71 to 40. Meanwhile, Cars.com reported that sales for the Honda Fit were up… Read more »
CarMax and Circuit City: Sniffles and Pneumonia:
It was a rough week for CarMax and Circuit City. CarMax stock shed $2 a share, or about 11%, on news that profits at the company dropped 55%. Meanwhile, Circuit City – the company from which CarMax was spawned – is on life support and looking for a transfusion. Or is it an organ transplant?
Slow economy and shifting tastes hammer CarMax
CarMax Inc.’s quarterly profit fell 55%, hit by a slowing economy and weaker consumer sentiment, and the used-car retailer said Wednesday it would suspend its guidance for the rest of the fiscal year. Fuel-hungry light trucks and sports utility vehicles brought lower than expected sales, while Gross profit per car fell 8.5% to $2,564. RBC… Read more »
Computer meltdown at CarMax
CarMax had a computer systems meltdown earlier this week, according to an AP story and a source at the company. “Spokeswoman Trina Lee says computer systems for the Richmond-based company experienced a temporary hardware failure that started Monday night. The problem was nearly 100 percent resolved by Tuesday afternoon and CarMax was able to sell… Read more »