CarMax Announces Tools, Resources and Incentives to Enhance Used EV Buying Experience

Rhea-AI Summary

CarMax has announced strategic initiatives to enhance the used electric vehicle (EV) buying experience. The company has partnered with Recurrent to provide battery health assessments and with Treehouse to offer a $200 credit for home charger installations. CarMax launched an EV Hub as an educational resource and added badges on CarMax.com to identify vehicles eligible for federal used EV tax credits up to $4,000. The company's 250 stores nationwide will provide information about Level 2 home charger installation through Treehouse. CarMax has also invested in both Recurrent and Treehouse, demonstrating its commitment to the EV market. The initiatives include battery range scoring, detailed vehicle reports, and comprehensive online resources including Edmunds' EV testing methodologies and cost estimates.

Positive

• Strategic partnerships with Recurrent and Treehouse show commitment to EV market expansion
• $200 credit offered for home charger installation enhances customer value proposition
• New EV Hub provides comprehensive educational resources for buyers
• Integration of battery health assessment tools addresses key customer concerns
• Badge system helps customers identify vehicles eligible for up to $4,000 federal tax credit

Negative

• None.

Insights

Automotive Industry Analyst

CarMax's strategic moves into used EVs show foresight, addressing key consumer concerns with practical solutions to capitalize on market growth potential.

CarMax is making a significant strategic push to position itself as the leader in the used electric vehicle market, introducing multiple initiatives that address the primary concerns of used EV buyers. The company has launched partnerships with Recurrent to provide battery health data - addressing one of the biggest uncertainties for used EV shoppers - and with Treehouse to offer a $200 credit toward home charger installation.

These partnerships are particularly noteworthy as CarMax has also invested financially in both companies, demonstrating a deeper commitment beyond mere service offerings. By developing a specialized EV Hub for consumer education and implementing a badge system to identify vehicles potentially eligible for the $4,000 federal tax credit, CarMax is creating a comprehensive ecosystem for used EV buyers.

This strategic initiative positions CarMax to capture growth in the used EV market, which should accelerate as the wave of new EVs sold in recent years begins entering the secondary market. While most traditional dealers remain hesitant about used EVs due to uncertainties around battery life and consumer adoption, CarMax is taking a proactive approach by developing specialized tools and resources specifically for this segment.

The timing is particularly strategic as battery life uncertainty and charging infrastructure remain the two primary barriers to used EV adoption. By addressing these concerns directly, CarMax is removing friction from the purchasing process while simultaneously building expertise that differentiates it from competitors in the used car retail space.

Battery health data through Recurrent and $200 home charging installation credit from Treehouse empowers used EV car shoppers

Richmond, VA, June 04, 2025 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today announced a series of strategic initiatives designed to enhance the used electric vehicle (EV) buying experience for consumers. CarMax is partnering with innovative companies to introduce an advanced battery health assessment tool and provide access to a $200 credit for installation of certain in-home chargers for CarMax customers. In addition, the company has launched the CarMax EV Hub as an online educational resource, along with a badge on CarMax.com that highlights vehicles that may qualify for the federal used EV tax credit. Through these efforts, CarMax is empowering EV shoppers with information and making EV ownership more accessible.

“CarMax is committed to becoming the leader in the used EV sector as part of our strategy to deliver the most customer-centric experience in the industry. The new electric vehicle market has seen strong growth in recent years, and we expect that to drive increased activity in the used EV market as well. Our strategic partnerships and enhancements to CarMax.com are designed to empower consumers with all the tools and resources they need in their shopping journey, improving the used EV purchasing experience,” said Terence Rasmussen, VP of Business & Corporate Development at CarMax.

Launch of Used EV Research Hub
CarMax has launched an EV research hub to further support and educate consumers considering a used EV purchase. This comprehensive online resource offers a wealth of information on EV ownership, including detailed guides on what to consider when shopping for an EV and an online quiz to help customers determine if an EV is right for them.

The EV Hub complements the information and resources that CarMax’s subsidiary Edmunds provides, including proprietary EV testing methodologies such as the Edmunds EV Range Test, cost to drive estimates and an incentive finder.

Battery Health and In-home Charging
CarMax teamed up with Recurrent to provide new information on CarMax.com to address a key concern for used EV buyers: battery health. The online feature provides a battery range score on EVs in CarMax’s inventory and allows consumers to click through to Recurrent’s site to obtain the actual estimated battery range and full Recurrent Report, which provides a deeper understanding of a vehicle’s expected battery degradation, seasonal range, time-to-charge, and more.
  
Additionally, at its 250 stores nationwide, CarMax provides EV customers with information on how they can purchase and install a Level 2 home charger through Treehouse, a software-enabled installation platform for electrification projects. Incorporating home charging into the EV exploration process helps ease customer concerns around charging and range anxiety, giving them the opportunity to enjoy fast, cost effective, and easy charging right at home. Customers who purchase an EV from CarMax and choose Treehouse for installation will also receive a one-time $200 installation credit from Treehouse.

Added Terence Rasmussen, “Our partnerships with Recurrent and Treehouse demonstrate our commitment to the EV market. We’re not just offering these services to our customers; CarMax has also invested in both companies.”

Badge for Used EV Tax Credit Eligibility
CarMax also introduced a badge on CarMax.com that flags which vehicles within its nationwide inventory may be eligible for the used EV tax credit of up to $4,000. This feature aims to simplify the shopping experience for consumers by clearly identifying vehicles that may qualify for this incentive. Consumers can find additional information about the federal used EV tax credit, including buyer eligibility requirements, on the CarMax EV Hub.

About CarMax
CarMax, the nation’s largest retailer of used autos, revolutionized the automotive retail industry by driving integrity, honesty and transparency in every interaction. The company offers a truly personalized experience with the option for customers to do as much, or as little, online and in-store as they want. During the fiscal year that ended February 28, 2025, CarMax sold approximately 790,000 used vehicles and 540,000 wholesale vehicles at its auctions. In addition, CarMax Auto Finance originated more than $8 billion in receivables during fiscal 2025, adding to its nearly $18 billion portfolio. CarMax has 250 store locations, over 30,000 associates, and is proud to have been recognized for 21 consecutive years as one of the Fortune 100 Best Companies to Work For®. CarMax is committed to helping its communities thrive and reducing the environmental footprint of its operations. Learn more in the 2025 Responsibility Report. For more information, visit www.carmax.com.

Attachments

• CarMax Announces Tools, Resources and Incentives to Enhance Used EV Buying Experience
• CarMax Announces Tools, Resources and Incentives to Enhance Used EV Buying Experience

Public Relations
CarMax
(855) 887-2915
PR@CarMax.com

FAQ

What new EV initiatives has CarMax (KMX) announced in June 2025?

CarMax announced partnerships with Recurrent for battery health assessments, Treehouse for home charger installations with $200 credit, launched an EV Hub for education, and added badges for tax credit eligible vehicles.

How much is the installation credit offered by CarMax through Treehouse?

CarMax offers a one-time $200 installation credit through Treehouse for customers who purchase an EV and choose Treehouse for home charger installation.

What battery health information does CarMax now provide for used EVs?

CarMax provides battery range scores through Recurrent, including estimated battery range, degradation information, seasonal range, and time-to-charge details.

How much is the federal used EV tax credit that CarMax vehicles may qualify for?

Eligible vehicles may qualify for a federal used EV tax credit of up to $4,000, which can be identified through badges on CarMax.com.

How many CarMax stores offer EV home charging installation information?

All 250 CarMax stores nationwide provide information about Level 2 home charger installation through Treehouse.