Carmax Inc · NYSE:KMX
Carmax — Investor Day (2023)
33 slides from Carmax's investor day presentation, 2023
Slide 1: Analyst Day 2023
cARMaX_ Analyst Day 2023
Slide 2: Seth Berkowitz, President, Edmunds
Seth Berkowitz President # edmunds
Slide 3: Edmunds History
Edmunds History Help guide consumers to the perfect car at the right price 1966 1994 Printed new & used automotive pricing guides First online consumer automotive website
Slide 4: Today, Edmunds is a trusted source
Today, Edmunds is a trusted source for automotive guidance & insights for consumers, industry partners, and the press Share of voice by competitor (standard search)
Slide 5: Our editorial team
Our editorial team rigorously tests vehicles to provide unbiased reviews and ratings 40 17,500 road test editors, collective hours testing writers, consumer advice and reviewing vehicles experts, photographers, each year videographers and social media managers 500,000+ 450+ editorial miles vehicles
Slide 6: Leveraging editorial authority and product expertise to lead in EVs
Leveraging editorial authority and product expertise to establish leading position in EVs Editorial team has extensively covered Launched new products to address the EVs and is a leading voice trusted by challenges shoppers face in buying both consumers, press, and industry. new and used electric ve
Slide 7: Leading Consumer Guide for Appraisals and Car Values
Leading Consumer Guide for Appraisals and Car Values Edmunds True Market Value (TMV) has been trusted by consumers since 2000, and is used by millions of consumers to get an appraisal of their used vehicle’s value
Slide 8: We help consumers navigate millions of new & used listings
We help consumers navigate millions of new & used inventory listings with proprietary tools, insights, & ratings Edmunds website includes 4M+ new & used inventory listings, and provides consumers with insights around pricing, quality, and ratings.
Slide 9: CarMax's acquisition of Edmunds
CarMax’s acquisition of Edmunds has led to a more ambitious mission: making car buying & selling easy Launch and Scale Leverage Edmunds Online Instant Appraisal Pilot innovative new product experienced dealer team and on Edmunds to reach consumers offerings with Edmunds’ dealer relationships to scal
Slide 10: Nick Gorton, Chief Innovation Officer
Nick Gorton Chief Innovation Officer
Slide 11: Edmunds Overview
Edmunds Overview MaxOffer Listings New and used inventory Premier Extension Traffic Make model website traffic Make model traffic helps you spend less on other acquisition sources Messaging platform Tools Trade-In Tool Award-winning trade-in tool and messaging platform 3rd-party listings Education G
Slide 12: CarMax supercharges Edmunds product innovation
CarMax supercharges Edmunds product innovation CarMax technology shared with Edmunds CarMax invests Edmunds creates in foundational technologies new products leveraging CarMax technologies New onramps created back into the CarMax ecosystem
Slide 13: Edmunds can be a testbed for CarMax innovations
Edmunds can be a testbed for CarMax innovations Instant Offers algorithm was tested against live traffic on Edmunds before making it to CarMax
Slide 14: CarMax unlocks innovation and growth for Edmunds
CarMax unlocks innovation and growth for Edmunds CarMax invests in Edmunds turns them into: foundational new technologies • New Products and capabilities • New dealer relationships • New revenue
Slide 15: MaxOffer
MaxOffer Powered by CarMax A new solution Here are some ways MaxOffer can help you avoid costs and hurdles. Redeem active CarMax offers Save on costs Sell aging inventory Does your customer have an active CarMax Avoid transportation fees, auction fees, Free up your lot and skip the offer? Use MaxOff
Slide 16: CarMax innovations create a powerful flywheel
CarMax innovations create a powerful flywheel CarMax acquires Edmunds sales team more vehicles directly helps bring MaxOffer from dealers solution to market New revenue opportunities for Edmunds expands its dealer network Edmunds
Slide 17: Edmunds Instant Cash Offer
Edmunds Instant Cash Offer Expand your inventory today. Give shoppers an offer for their car in as little as 2 minutes. Current Products in the Market Integrated with your dealership Place the tool on your site — shoppers can easily find Instant Cash Offer. You can also use the tool in your showroom
Slide 18: Edmunds Instant Cash Offer is a consumer facing onramp to MaxOffer
Edmunds Instant Cash Offer is a consumer facing onramp to MaxOffer Lead delivered to Dealer CRM
Slide 19: Multi-Offer trade-in Marketplace
Multi-Offer trade-in Marketplace Customers can receive multiple offers on their car, from CarMax and other Edmunds partners through our multi- offer experience.
Slide 20: Consumer innovation
Consumer innovation CarMax buys more CarMax’s trusted vehicles from Edmunds brand and deep trade-in marketplace buying power as the pie grows Edmunds attracts CarMax Venture a larger audience investments unlock with our with our new partnership exclusive offering opportunities
Slide 21: Eugene Park, Chief Product Officer
Eugene Park Chief Product Officer
Slide 22: Edmunds.com Electric Vehicle Strategy
EDMUNDS.COM ELECTRIC VEHICLE STRATEGY
Slide 23: User Research informs Our Suite of EV Product Offerings
User Research informs Our Suite of EV Product Offerings How far can I really go How much does it cost How much will I save on a single charge? to charge an EV? on gas if I get an EV? How do I buy an EV What kinds of tax credits If I buy a Used EV, will the How much does an EV or incentives are and w
Slide 24: EV Shoppers Face New & Unique Set of Challenges
EV Shoppers Face New & Unique Set of Challenges Requiring Tailored Solutions • Range • Reduce Range Anxiety • Charging • Charging Awareness • Battery Lifespan • Confidence in EV Shopper Products + Edmunds Battery Longevity • Total Cost to Challenges Content Solutions Buy & Own • Understand EV Costs
Slide 25: We're informing EV Range & Efficiency
We’re informing EV Range & Efficiency with internal Edmunds testing & real-world data Edmunds’ in-house Vehicle Testing team has measured the actual range & efficiency of EVs on real-world driving course since 2020.
Slide 26: Proprietary range testing data powers consumer tools
Proprietary range testing data powers consumer tools such as customized EV Range Maps “How many miles can you drive on a full charge?” Consumers see one-way and round-trip range estimates based on user-supplied ZIP code location & informed by Edmunds’ Tested EV Range, Recurrent Used Battery Range Es
Slide 27: Understand Charging & Cost to Drive
Enable Consumers to Better Understand Charging & Cost to Drive By end of FY24, we will launch Edmunds EV Charging Test, a standardized measure of how fast a vehicle is able to charge and estimated charging costs vs gas fuel costs.
Slide 28: Maximize Consumer EV Tax Credits
Maximize Consumer EV Tax Credits Help consumers understand their maximum savings on an EV purchase across tax credits, rebates, and incentives from federal, state, and local utility/municipality sources.
Slide 29: Integrated Battery Health Insights
Integrated Battery Health Insights for Used EV Inventory In partnership with Recurrent, we’re helping used EV shoppers understand the impact battery health has on the range on used EVs, accounting for age, manufacturer, mileage, local climate, battery technology, etc.
Slide 30: Added new EV-specific Inventory Search Tools
Added new EV-specific Inventory Search Tools Enable shoppers to filter and search EV inventory based on their EV range and used battery health scores.
Slide 31: Investments in EV Authority Recognized by Consumers & Industry
Investments in EV Authority Recognized by Consumers & Industry Ranked #1 against competitors on Recognized as thought leaders in the Leading social media website EV features & usability EV space with Motor Press Guild Award presence in the EV space
Slide 32: Continuing to Innovate & Grow as part of CarMax
Continuing to Innovate & Grow as part of CarMax Trusted source of automotive guidance & insights Leverage combined automotive and product expertise to establish leading position in EVs Testbed for new consumer and dealer offerings through leveraging Edmunds’ brand, product expertise, and dealer capa
Slide 33: Thank You
THANK YOU. # edmunds