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|CarMax Breaks Ground On New Store In Greater San Diego|
RICHMOND, Va. (February 2, 2011)—CarMax, Inc. (NYSE: KMX), the nation's largest retailer of used cars, has begun construction on a new CarMax superstore in Escondido, California. The new store will be the second CarMax location in the Greater San Diego area; the first location opened in 2007 at 7766 Balboa Avenue in San Diego.
The Escondido CarMax superstore is expected to open in mid 2011 and will provide approximately 50 to 75 jobs. The 13,660-square-foot superstore will be built at 830 Dan Way in Escondido on more than five acres of land.
“As we continue to break ground on new and existing markets, the excitement of resuming growth can be seen throughout the company,” said Tom Folliard, president and chief executive officer of CarMax. “We look forward to bringing our unique consumer offer to new communities such as Escondido.”
CarMax was created more than 17 years ago when the company surveyed thousands of consumers to find out what they liked and disliked about car shopping. The CarMax no-haggle, no-hassle, fun shopping experience was the result of those survey responses. CarMax offers consumers a broad selection of high-quality used cars and guarantees the quality of the cars sold, 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, and CarMax offers a five-day, money-back guarantee and a limited 30-day warranty (60-day in Connecticut).