One of the biggest used vehicle retail platforms is investing in one of the biggest auto research companies.
CarMax Inc. is partnering with automotive research site Edmunds in an effort to strengthen its new omnichannel shopping experience. The partnership includes a $50 million acquisition of a minority stake in Edmunds.
“Edmunds’ proprietary content, comprehensive automotive market insights and streamlined user experience across the car buying and selling journey will allow us to deepen our engagement with customers shopping online,” said Bill Nash, CarMax President and CEO. “Edmunds has also made significant investments in digital innovations over the last several years that align with our continued focus on enhancing the customer experience online.”
CarMax began piloting its omnichannel buying experience in Atlanta in December 2018 and has been rolling it out across the country ever since. Omnichannel buying enables customers to complete transactions entirely from home, in-store, or in a seamless combination of both. A new express pickup option allows customers to do most of the process online and complete their purchase in-store in as little as 30 minutes.
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