The multi-million dollar site was built at 2070 Stafford Way, off Ogletown Road.
The location has 56,000 square feet, occupies more than 22 acres, employs nearly 90 and stocks approximately 300 used vehicles.
To mark the opening of the Newark store, the company is hosting an online rally for charity on the the CarMax Facebook page. CarMax is $5,000 to three local nonprofit organizations that are competing for votes. The organizations are the Greater Newark Boys & Girls Club, Special Olympics Delaware – Newark Area and Western Family YMCA. Participants can vote for their favorite nonprofit once per day for two weeks through Dec. 30. Each charity will receive a donation of $1,000 for participating. The charity that receives the most votes will receive an additional $2,000 donation and be announced on the CarMax Facebook page.
“CarMax takes pride in serving our customers and giving back to the communities where we live and work,” said Bob Bolton, general manager of the Newark CarMax. “It is an honor to help support these three local charities and we look forward to bringing the unique CarMax experience to the Newark community.”
CarMax opened its first store in Richmond, Va. 20 years ago after the company surveyed thousands of consumers to find out what they liked and disliked about car shopping.
CarMax had long eyed the Newark-area market, home of a large “auto row.” However, it delayed plans to build at the current site when a severe recession hit and the government launched its cash for clunkers program. The company had gone so far as to have construction materials on site at that time.
The company offers vehicles that typically have less than 60,000 miles, with 35,000 vehicles on line that can be sent to the Newark store. Extra charges may apply. It makes heavy use of television advertising to put out the message that it offers good service and no haggle pricing.
The opening is expected to increase competition in the used car market, which is a major source of income for dealers, since new vehicles often sell a few hundred dollars above cost and used cars can come with bigger margins.
CarMax, a member of the Fortune 500 Fortune 2013 “100 Best Companies to Work For,” is the nation’s largest retailer of used cars. During the12 months ended February 28, 2013, the company offered 447,728 used cars and sold 324,779 wholesale vehicles. Further information is available at www.carmax.com.
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