CarMax Will No Longer Sell New Vehicles, but the 24-Hour Test Drive Still Stands
After 27 years, America’s largest used-vehicle retailer, CarMax, recently announced it’s exiting the new-vehicle retail business. The Fortune 500 company is dumping its last two franchised dealerships, both Toyota, to specialize in used-car sales. The news comes after the auto retailer touted its new 24-hour test drives. Why did CarMax pivot after a quarter-century of …