CarMax Buys Stake in Edmunds

By Staff Writer January 31, 2020

CarMax, Inc. the nation’s largest retailer of used cars, announced it is partnering with, and investing in the automotive research site Edmunds.

CarMax is investing $50 million to acquire a minority stake in the company. Edmunds has been consistently recognized as one of the most trusted online resources for automotive information, and an industry leader in digital car shopping innovations.

“This strategic relationship further strengthens CarMax’s new omni-channel experience,” said Bill Nash, CarMax president and CEO, “which empowers customers to buy a car on their terms, whether completely from home, in-store, or a seamlessly integrated combination of both.

“Edmunds’ proprietary content, comprehensive automotive market insights and streamlined user experience across the car buying and selling journey will allow us to deepen our engagement with customers shopping online.”

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Last modified on Wednesday, 05 February 2020 14:24