The company says the furloughs are in response to the coronavirus pandemic, which due to the conditions, has caused about half of the company’s stores to close or operate on a limited basis. CarMax said it sanitizes high-touch areas of vehicles, including during appraisals and before and after test drives and vehicle repairs. store, Rivian, other startups face ban from Mich. dealers in direct-sales fight, Sponsored Content: Lexus dealer council leader on how the all-new IS elevates the segment and helps attract younger buyers. CarMax is proud to have been recognized for 16 consecutive years as one of the Fortune 100 Best Companies to Work For®. See more newsletter options at autonews.com/newsletters. In 10 Days, CarMax Will Furlough 15,500 Workers Half of CarMax's stores are closed or barely open, and demand for cars is drying up. You may order presentation ready copies to distribute to your colleagues, customers, or clients, by visiting http://www.autobloglicensing.com. A tiny silver lining is CarMax's decision to help select furloughed employees with their medical costs. The earliest locations to … A large majority of its shops across the country are currently closed, with a few exceptions where stores have remained open in extremely limited capacities (a full list of closed stores can be found on the CarMax website). And if your dream car is located at a different CarMax, we can ship it to your local CarMax, with no obligation and zero pressure (Fee and restrictions may apply).

How is GM going to build the fuel cell stacks for Nikola? New hires are also being frozen, inventory levels reduced, marketing spend rolled back, and store expansions and remodels halted. Each and every one of our associates are incredibly important to us. “As always, customers can return the car for any reason within seven days of purchase for a full refund,” CarMax said.

It was not immediately clear how other new-vehicle retailers are dealing with the order. More cost-cutting measures include Nash's 50% salary cut, undisclosed salary cuts to senior leadership, and a decision from the CarMax board of directors to forgo its cash retainer indefinitely. Detroit, Michigan After a good FY 2020, Carmax faces tough comparisons and coronavirus impact in FY2021. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Closure for virus. It also offers home delivery at some locations, according to CarMax. Recent actions include prioritizing service and roadside support and limiting sales staff to online interaction if required.”. When that would be, or if all employees would be able to return, is impossible to say at this time, however, and it's not a guarantee. Attendance at large events and conferences has been prohibited. Visit us at CarMax in Kentwood, Michigan Used Cars in Kentwood. ", With about half of CarMax's stores either closed or "operating on a limited basis," the company simply can't afford to keep paying thousands of employees for work they're unable to perform. You must have JavaScript enabled to experience the new Autoblog. 48207-2997, Automotive News ISSN 2576-1072 (online), CarMax to pay $119,440 for alleged Clean Water Act violations at Mo. All rights reserved. Editor's note: Penske Automotive's stores in the San Francisco area are open. 5710 Midlothian TurnpikeRichmond, VA 23225(804) 230-1212. * CarMax delivery is available within a 60-mile radius of select stores. Market data powered by FactSet and Web Financial Group.

Please follow the instructions below to enable JavaScript in your browser. On Christmas Eve, The CarMax Stores will be open from 10 a.m. to 9 p.m.; CarMax Christmas Day Hours 2020 "We've put measures in place to reduce the risk of exposure and further spread of COVID-19 in our communities," CarMax said in a statement. store, Rivian, other startups face ban from Mich. dealers in direct-sales fight, Sponsored Content: Automotive loyalty in the wake of the COVID-19 recession. This page is for personal, non-commercial use. You can unsubscribe at any time through links in these emails. view store details.

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