CarMax Announces Bonuses for 22,000 Associates

Bonuses of $500 to full-time associates, $250 to part-time associates in recognition of their dedication and hard work

RICHMOND, VA, March 03, 2021 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today announced that it will issue bonuses to 22,000 associates in recognition of their commitment and dedication to provide excellent customer service and introduce new innovative offerings in the midst of a challenging year. 

This bonus is being provided to more than 80% of CarMax associates. Full-time associates will receive $500 and eligible part-time associates employed by March 1, 2020 will receive $250. Bonuses for eligible associates hired after March 1, 2020 will be prorated. The remaining associates are eligible for other bonus plans. 

“Associates are the heart of CarMax, and I think it’s truly remarkable how well they adapted over the past year to meet the expectations of our customers, all the while implementing new and exciting consumer offerings that have transformed our business,” said Bill Nash, president and CEO of CarMax. “No one could have forecasted the challenges that we all faced this year. Our associates have worked tirelessly to take care of each other and our customers, and this reward is in appreciation of their efforts.”

Known for disrupting the industry with the first used vehicle “no-haggle” buying and selling experience, CarMax continues to accelerate innovations in the auto retail industry. In response to the need for social distancing, CarMax launched CarMax Curbside, a new contactless way for customers to complete the car buying and selling experience. Customers save time by completing most of the process online in advance and can test drive and complete their purchase outside the store. In September 2020, CarMax announced the completion of its omni-channel platform rollout, which continues to evolve. This platform empowers customers to buy a car on their terms – online (including home delivery), in-store, and a seamless integration of both. In January 2021, the company introduced the Love Your Car Guarantee, which gives customers the ability to take 24-Hour Test Drives before committing to purchase, and features a new 30-Day Money Back Guarantee – the only consumer offering of its kind in the automotive retail industry.