Thomas Folliard on revenue
From How a Florida Tech graduate in Melbourne helped CarMax transform an industry · · Instructional Technology
“The year that just ended we did a little over 18 billion in revenue; this year we'll eclipse 20 billion in revenue. We have twelve and a half billion in managed receivables and are about the fifth-largest originator of used-car loans in the country.”
On , Thomas Folliard, Executive Chairman at CarMax, spoke about revenue during How a Florida Tech graduate in Melbourne helped CarMax transform an industry on Instructional Technology.
About Thomas Folliard
Thomas Folliard, executive chairman of CarMax, spoke at a Florida Tech lecture series in February 2018. He stated that the company had generated over $18 billion in revenue in the prior year and expected to exceed $20 billion in the coming year)Skip. He also said CarMax had $12.5 billion in managed receivables and was the fifth-largest originator of used-car loans in the United States. During the lecture, Folliard described the company's response to an unspecified economic downturn, saying CarMax did not conduct layoffs or reduce benefits, instead repurposing some employees and rethinking the company's operations. He also discussed CarMax's approach to vehicle recalls, stating that because the company is not a manufacturer, it cannot fix recalls, but aims to be transparent with customers by showing them how to register with manufacturers and check for open recalls.