CarMax

CarMax is the United States' largest used-car retailer and a Fortune 500 company. The first CarMax location opened in September 1993. As of May 2015, the company had 147 locations. Prior to the first store being built, DeVito/Verdi was hired as the advertising agency and creative resource. The company executed the campaign and additional TV advertisements over the course of a number of years in support of the launch and the initial wave of stores.

Concept

The concept for CarMax was developed by Circuit City executives under then-CEO Richard L. Sharp. It was developed for nearly a year in 1991, using the code name "Project X", and was also known as "Honest Rick's Used Cars" to those intimately involved in the skunk works team. The concept was actually first proposed by a consultant hired by Circuit City to evaluate possible business opportunities beyond the scope of their consumer electronics locations. While used cars has always been the main business, CarMax purchased the rights to locations from car manufacturers such as Chrysler, Mitsubishi, and Toyota. CarMax also purchased an auto row in Kenosha, Wisconsin that had additional manufacturer franchises, such as Ford, BMW, and Volvo. The first CarMax location opened in September 1993, 1.7 miles (2.7 km) from Circuit City's corporate offices in Richmond, Virginia. As of February 26, 2009, CarMax operated 100 used car superstores and seven new car franchises, all of which are integrated or co-located with its used car superstores.