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PRESIDENT AND CEO, CARMAX, GOOCHLAND COUNTY
PRESIDENT AND CEO, CARMAX, GOOCHLAND COUNTY
Virginia Business// August 29, 2024//
Nash began at CarMax in 1997 as an auction manager, working his way up to president and CEO in 2016. Founded in 1993 in Richmond as a subsidiary of electronics retailer Circuit City, Fortune 500 company CarMax is the country’s largest retailer of used cars, employing almost 30,000 people, including 3,300 in Virginia.
According to its 2023 fiscal year earnings report, CarMax earned $29.6 billion in net sales and operating revenues, down 6.9% from 2022, and CarMax Auto Finance income decreased 36.1% year-over-year due to a decline in margin percentage and a $43.6 million increase in loan losses.
Used vehicle sales were still down as of May 31 compared with the same period in 2023, as were wholesale vehicle sales, but Nash noted in a statement that he is encouraged by recent trends, “including continued year-over-year price declines, improvements in vehicle value stability and ongoing growth in upper funnel demand.”
A 1991 graduate of James Madison University, Nash started out working in payroll and accounting at Circuit City.
HOW I UNWIND FROM WORK: Spending time with family, being active outdoors and exercising
