In the year 2012, CarMax was the foremost vendor of second hand cars in the United States along with a fast growing competition in the used car auction market. After their foundation in 1993 by Circuit City's direction, CarMax had grown quickly. They had been independent from their parent company to 2002 and prosperous since 2000.
While Circuit City went broke in 2009 under pressure from Best Buy and challenging economic conditions, CarMax expanded through the economic crisis and boomed. Nevertheless, CarMax still accounted for less than 3% of the fragmented second hand car market. Also, they were keen to avoid the fate of their parent and to stay ahead of copycat competitions. What should continue its success in used car retailing and auctioning and CarMax do to grow its market position?
PUBLICATION DATE: January 02, 2013 PRODUCT #: 713467-PDF-ENG
This is just an excerpt. This case is about STRATEGY & EXECUTION
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