Module 2 Assignment I chose the CarMax which is rank 174 of Fortune 500 list. I bought my first car.

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Module 2 Assignment

I chose the CarMax which is rank 174 of Fortune 500 list. I bought my first car in CarMax and my friends use CarMax to sell their cars in a good price. Also I think as a largest used-car retailer in USA. CarMax is the most successful used-car retailer in America. CarMax’s concept is developed by Circuit city in 1991 which is to evaluate the possible chance beyond consumer electronic locations. A typical CarMax store is a 5000 sq. feet place with 300 cars list. CarMax guarantee every car sell by them pass 125-point inspection processand you will get includes a 30-day warranty, three days to change your financing for free, and a seven-day money back guarantee.In 2018, CarMax sold 721,512 used cars and opened 15 stores. They are planning to open 15 additional stores in 2019. CarMax have a big potential advantages to get success overseas. Module 3 Assignment

, the United States, is China. China, just like the United States of America, is one of the biggest economies in the world. In addition to its robust economy, China also has the largest population in the world. When combined, the economy and population, offer a good environment and incentive for business. CarMax is a second-hand car retailer whose business is doing well in the United States. Although the two countries are different in many ways including people’s preferences and abilities to buy, China and the United States offer an almost similar environment for business, which suggests the likelihood of CarMax being a success in China.

Other retailers are already positively speculating about the Chinese second-hand car market. The sales units of used vehicles are expected to reach 34 million units by 2022. CarMax can be one of the retailers meeting this demand. Alibaba, one of the biggest online retailers in China, is also betting on the success of second-hand car sales in the country (China Daily {1}). One of the best ways to conduct this type of business is through the internet. Consumers in China are used to, and familiar with, online shopping. In the United States, CarMax already uses both online and offline means to sell cars. As such, venturing into the Chinese market would be easy for the second-hand car retailer.