CarMax(R) Changing the Way Consumers Buy Cars
30 March 1998
CarMax(R) Changing the Way Consumers Buy Cars; Company Provides 270 Jobs at New South Suburb Location; Educates Consumers on Buying/Maintaining Their Cars
RICHMOND, Va., March 30 -- CarMax, the pioneer of the used-
car superstore concept, continues to take the stress out of car buying as it
prepares to celebrate the April 6 Grand Opening of its Tinley Park superstore.
CarMax announced today a month-long schedule of Grand Opening activities
to welcome the Tinley Park community and south suburban residents to its new
superstore, located at 18800 South Oak Park Avenue near the World Music
Theater. Among the many events planned is a sneak preview on April 4 from
12:00 p.m. to 4:00 p.m. that includes a "CarMax Country Barbecue." Consumers
are encouraged to attend this sneak preview to enjoy food, games and family
fun and witness for themselves CarMax's revolutionary car-buying experience.
In addition, a series of special events begin on April 6 and include
everything from stress-relieving backrubs by "The Great American Backrub(R)"
to consumer education seminars on "How to Buy a Used Car" and "Keeping Your
Car Safe for Your Family."
"CarMax looks forward to becoming part of the Tinley Park community," said
W. Austin Ligon, president of CarMax. "We feel these events will help the
community to become familiar with CarMax as a new neighbor." The 29-acre,
83,000-square-foot Tinley Park sales and service facility will employ
approximately 270 people and will be one of the largest locations serving
Chicagoland.
"We welcome CarMax as an important and vital member of the Tinley Park
family," said Tinley Park Mayor Edward J. Zabrocki. "We wish them much
success and look forward to a long and mutually beneficial partnership."
Used-car sales total about $300 billion a year -- as big a business as new
cars. Consumers buy three times as many used cars as new cars annually.
CarMax is rapidly expanding into the auto retail segment. The company expects
to operate approximately 27 locations by the end of its fiscal year and 80 to
90 by calendar year 2001.
The Tinley Park location will have capacity for 775 used vehicles,
including light and full-size trucks; sport-utility vehicles; minivans; sub-
compact, compact and luxury cars. Store hours will be Monday through Friday,
11:00 a.m. to 9:00 p.m., and Saturday, 9:00 a.m. to 9:00 p.m.
CarMax, a subsidiary of Circuit City Stores, Inc., has been
revolutionizing the way consumers buy cars since opening its first store in
1993. CarMax locations offer hundreds of top-quality used cars and trucks;
low, no-haggle prices; and customer-friendly service throughout the buying
experience. The company began development of the auto superstore concept in
1991 and opened the first store of its kind in Richmond, Va.
The Tinley Park location is the second CarMax store to open in the
Chicagoland area and the 19th to open in the country. CarMax entered the
Chicago market earlier this month with the grand opening of its Naperville
store. A third store in Hillside at 101 North Wolf Road in the Hillside
Shopping Plaza is expected to open in late May, followed by a location in
Schaumburg. Plans for additional locations in the North Shore, Gurnee and
Merrillville, Indiana are under development.
"The Tinley Park location expands our ability to provide shoppers with our
distinctly different consumer offer," said Ligon. "We provide low, no-haggle
prices; tremendous selection; quality guarantees; and customer-friendly
service before and after the sale," he added.
CarMax is a subsidiary of Circuit City Stores, Inc., the nation's leading
retailer of brand-name consumer electronics and major appliances and a leading
retailer of personal computers and music software. With headquarters in
Richmond, Va., Circuit City operates 19 CarMax Auto Superstores, including the
Tinley Park location; 500 Circuit City Superstores; four consumer electronics-
only stores; and 52 mall-based Circuit City Express stores. The company's
CarMax Group common stock trades under the symbol "KMX." Additional CarMax
information is available at http://www.carmax.com. The Circuit City Group
common stock trades under the symbol "CC." Additional Circuit City
information is available at http://www.circuitcity.com.
SOURCE CarMax
