CarMax Announces Tools, Resources and Incentives to Enhance Used EV Buying Experience

Core Insights - CarMax is enhancing the used electric vehicle (EV) buying experience through strategic partnerships and new resources aimed at empowering consumers [1][2][9] Group 1: Strategic Initiatives - CarMax has partnered with Recurrent to provide battery health assessments for used EVs, allowing consumers to access detailed battery range scores and reports [5][7] - The company is offering a $200 credit for the installation of Level 2 home chargers through Treehouse, addressing customer concerns about charging and range anxiety [6][7] - An online EV Hub has been launched to educate consumers on EV ownership, featuring guides and quizzes to assist in the purchasing process [3][4] Group 2: Market Positioning - CarMax aims to become a leader in the used EV sector, capitalizing on the growth of the electric vehicle market and enhancing the customer-centric experience [2][9] - The introduction of a badge on CarMax.com identifies vehicles eligible for the federal used EV tax credit of up to $4,000, simplifying the shopping experience for consumers [7] Group 3: Company Overview - In the fiscal year ending February 28, 2025, CarMax sold approximately 790,000 used vehicles and originated over $8 billion in receivables through CarMax Auto Finance [8]