CarMax stock price rises as it launches an app in the ChatGPT app store

LootboxPhobia · 2026-02-27T20:06:29+00:00

CarMax Inc. stock price increased by 1.7%, becoming the first American auto retailer to launch a car buying app in the ChatGPT app store. The new feature allows consumers to search for vehicles and get quotes within ChatGPT, simplifying the car buying experience. CarMax has 255 stores nationwide and is committed to using artificial intelligence to enhance customer service.

LootboxPhobia

2026-02-27 20:06:29

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Investing.com – CarMax Inc. (NYSE:KMX) stock rose 1.7% on Friday after the company announced it became the first U.S. auto retailer to launch a car-buying app in the ChatGPT app store.

This new integration allows consumers to search for vehicles and get vehicle valuation information within ChatGPT. Customers can browse CarMax’s inventory of over 45,000 vehicles nationwide using conversational language, such as requesting “a three-row SUV under $25,000.”

The app also enables car sellers to instantly receive quotes for their vehicle make and model from CarMax and directly access the company’s online quoting tool.

“By bringing CarMax’s nationwide inventory and shopping tools into ChatGPT, we provide customers with a simple, reliable way to explore their options on a platform they already use,” said Diane Cafritz, CarMax’s Chief Innovation and People Officer.

CarMax operates 255 stores nationwide and employs over 28,000 people. The company has been utilizing artificial intelligence technology for years, including its virtual assistant Skye, which handles tens of thousands of customer conversations weekly on the CarMax website.

Headquartered in Richmond, Virginia, the retailer offers a 10-day money-back guarantee and a 30-day limited warranty with no mileage restrictions. The company also provides home delivery within a 60-mile radius at some stores and offers vehicle pickup services for sellers.

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