Car Shoppers Focus on Quality, According to CarMax Survey

  Car Shoppers Focus on Quality, According to CarMax Survey

Business Wire

RICHMOND, Va. -- December 05, 2012

Quality remains top of mind for car buyers for the third year running, with
almost double the amount of respondents choosing it over price as influencing
a car-buying decision, according to a recent telephone survey conducted for
CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars. Quality
was also more important to car buyers than safety and environmental factors.

Forty-one percent of Americans who have purchased a vehicle say that quality
had the greatest impact on their car buying decision, followed by price and
safety, in that order. Men and women chose quality as their top factor
individually too – 46 percent of men and 36 percent of women chose quality.
Resale and environmental factors were least important, at five and four
percent respectively.

“Consumers want to drive off the lot knowing they are in a high quality
vehicle, and they also want to feel good about the price and safety of the
vehicle,” said Troy Flaherty, Mid-Atlantic region vice president of
purchasing. “Our rigorous selection, inspection and renewal processes allow
customers to have peace of mind when buying a used car."

The following are the results of the recent poll that asked adults: “Which of
the following factors most influences your car-buying decision?”

                                                        
Responses              2012 Percentages  2011 Percentages  2010 Percentages
Quality                41                45                37
Price                  23                22                28
Safety                 17                15                22
Resale value           5                 7                 4
Environmental or       4                 6                 6
green factors
                                                          

The survey was conducted by Ipsos Public Affairs on behalf of CarMax. The
national, random sample consisted of more than 1,000 U.S. adults who were
interviewed by telephone during October 4 – 8, 2012, October 6 – 11, 2011 and
August 19 – 22, 2010. Of those surveyed this year, five percent had no
response.

Consumers can search thousands of CarMax Quality Certified used cars on
carmax.com or visit their local CarMax store to browse a large selection of
vehicles. Each vehicle undergoes an average of 12 hours of thorough inspection
and renewal, and comes with a free online Vehicle History Report. Consumers
can search vehicles from 30 top brands by fuel economy and features, read
customer reviews, review reliability ratings by J.D. Power and Associates and
obtain safety ratings by the National Highway Traffic Safety Administration,
all on carmax.com. All vehicles come with a 30-day limited warranty (60-day in
Conn. and 90-day in Mass.) and a five-day, money-back guarantee.

About CarMax

CarMax, a member of the FORTUNE 500 and the S&P 500, and one of the FORTUNE 
2012 “100 Best Companies to Work For,” is the nation’s largest retailer of
used cars. Headquartered in Richmond, Va., CarMax currently operates 116 used
car superstores in 58 markets. The CarMax consumer offer is structured around
four customer benefits: low, no-haggle prices; a broad selection; high quality
vehicles; and customer-friendly service. During the twelve months ended
February 29, 2012, the company retailed 408,080 used cars and sold 316,649
wholesale vehicles at our in-store auctions. For more information, access the
CarMax website at www.carmax.com.

Contact:

Media Contacts
Elia Imler, CarMax Public Relations, (804) 747-0422, ext. 4029
Britt Farrar, Manager, Public Relations, (804) 747-0422, ext. 3473
Twitter: @CarMax, Facebook: facebook.com/CarMax
 
Press spacebar to pause and continue. Press esc to stop.