Richmond, VA, Aug. 06, 2026 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today announced it is working with Sierra on a better inbound call experience for CarMax customers. Deployed in May, Sierra’s advanced AI voice-enabled agents ensure CarMax customers reach the right destination or speak with an associate faster and more consistently regardless of call volume, time or time zone.
Sierra agents provide conversational and clarifying questions to better understand customer needs, resulting in quick answers to common questions, such as store hours and vehicle availability, and smoother transitions to a CarMax associate. Since launch, CarMax has seen an increase in call resolution and a decline in the rate of unresolved calls. The company is working to add further capabilities, including appointment management for tasks such as scheduling appraisals, browsing and test drives.
“We continually explore new and innovative ways to better serve customers and support our associates, and partnering with Sierra has been an important part of that, ensuring our most frequent customer questions are answered consistently and on demand. That frees our associates to do what they do best: provide knowledgeable guidance through the bigger decisions in the car shopping journey," said Shamim Mohammad, CarMax Chief Information and Technology Officer.
“We’re so excited to partner with CarMax, a pioneer in applied AI. Thanks to their AI agent, there’s no need to wait on hold or repeat yourself as you are transferred from one place to another. And for associates, it means less time answering simple questions and more time helping customers find the right car,” said Bret Taylor, Co-Founder and CEO of Sierra.
Today’s announcement demonstrates CarMax’s continued commitment to making car buying and selling clearer and easier through innovative technology. CarMax has been leveraging AI for years and has its own 24/7 virtual assistant, Skye, on CarMax.com and was the first U.S. auto retailer with an app in the ChatGPT app store that supports car shopping.
About CarMax
CarMax, the nation's largest retailer of used autos, has earned customers' trust for more than 30 years
by leading with integrity, transparency and honesty. CarMax continues to redefine car buying and selling for millions of customers, delivering the easy and confident experience they love. CarMax has more than 255 store locations, approximately 28,000 associates, and is proud to have been recognized for 22 consecutive years as one of the Fortune 100 Best Companies to Work For®. During the fiscal year that ended February 28, 2026, CarMax sold approximately 780,000 used vehicles and 540,000 wholesale vehicles at its auctions. In addition, CarMax Auto Finance originated $8 billion in auto loans during fiscal 2026, adding to its $16 billion portfolio. CarMax is committed to helping its communities thrive and reducing the environmental footprint of its operations. Learn more in the
2026 Responsibility Report
. For more information, visit
www.carmax.com
.
About Sierra
Sierra
is the platform that helps businesses build better, more human customer experiences with AI. With Sierra, companies deploy customer-facing AI agents that communicate in natural language, solve complex problems, and personalize every interaction—on any channel.
Sierra works with 40% of the Fortune 50, and 1 in 3 of the world’s leading banks. Across a range of industries, leading brands like The GAP, Rocket Mortgage, SoFi, Sutter Health, and Wayfair have partnered with Sierra to improve customer satisfaction in the moments that matter while driving operational efficiency and revenue growth.
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CarMax Partners with Sierra to Improve Inbound Call Experience with AI Voice Agents
CarMax partners with Sierra to enhance customer call experiences using AI voice agents, improving call resolution and efficiency.
Quiver AI Summary
CarMax, the largest used car retailer in the U.S., has partnered with Sierra to enhance its inbound call handling for customers. Since the implementation of Sierra's AI voice-enabled agents in May 2026, CarMax has experienced improved call resolution rates and reduced unresolved calls, as the system helps customers reach the right resources more efficiently. The AI agents provide customers with quick answers to common inquiries like store hours and vehicle availability, while also enabling smoother transfers to human associates. CarMax plans to extend the AI's capabilities to appointment management for tasks such as scheduling appraisals. Both companies emphasize their commitment to using innovative technology to create a better customer experience and support associates in delivering quality service.
Potential Positives
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FAQ
What partnership did CarMax announce?
CarMax announced a partnership with Sierra to improve the inbound call experience for customers using advanced AI voice-enabled agents.
How does Sierra's technology benefit CarMax customers?
Sierra's AI agents help customers reach the right destination faster and answer common questions, improving the overall call experience.
What improvements has CarMax seen since implementing Sierra's AI?
Since launching Sierra's AI, CarMax experienced an increase in call resolution and a decline in unresolved calls.
What features are being planned for CarMax's AI system?
CarMax plans to add capabilities like appointment management, scheduling appraisals, and managing test drives to its AI system.
How does CarMax prioritize customer service innovation?
CarMax continuously explores innovative technologies, like AI, to enhance customer service and support associates in providing guidance.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$KMX Insider Trading Activity
$KMX insiders have traded $KMX stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $KMX stock by insiders over the last 6 months:
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$KMX Hedge Fund Activity
We have seen 240 institutional investors add shares of $KMX stock to their portfolio, and 300 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$KMX Analyst Ratings
Wall Street analysts have issued reports on $KMX in the last several months. We have seen 0 firms issue buy ratings on the stock, and 1 firms issue sell ratings.
Here are some recent analyst ratings:
To track analyst ratings and price targets for $KMX, check out Quiver Quantitative's $KMX forecast page.
$KMX Price Targets
Multiple analysts have issued price targets for $KMX recently. We have seen 11 analysts offer price targets for $KMX in the last 6 months, with a median target of $45.0.
Here are some recent targets:
Full Release
Richmond, VA, Aug. 06, 2026 (GLOBE NEWSWIRE) -- CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, today announced it is working with Sierra on a better inbound call experience for CarMax customers. Deployed in May, Sierra’s advanced AI voice-enabled agents ensure CarMax customers reach the right destination or speak with an associate faster and more consistently regardless of call volume, time or time zone.
Sierra agents provide conversational and clarifying questions to better understand customer needs, resulting in quick answers to common questions, such as store hours and vehicle availability, and smoother transitions to a CarMax associate. Since launch, CarMax has seen an increase in call resolution and a decline in the rate of unresolved calls. The company is working to add further capabilities, including appointment management for tasks such as scheduling appraisals, browsing and test drives.
“We continually explore new and innovative ways to better serve customers and support our associates, and partnering with Sierra has been an important part of that, ensuring our most frequent customer questions are answered consistently and on demand. That frees our associates to do what they do best: provide knowledgeable guidance through the bigger decisions in the car shopping journey," said Shamim Mohammad, CarMax Chief Information and Technology Officer.
“We’re so excited to partner with CarMax, a pioneer in applied AI. Thanks to their AI agent, there’s no need to wait on hold or repeat yourself as you are transferred from one place to another. And for associates, it means less time answering simple questions and more time helping customers find the right car,” said Bret Taylor, Co-Founder and CEO of Sierra.
Today’s announcement demonstrates CarMax’s continued commitment to making car buying and selling clearer and easier through innovative technology. CarMax has been leveraging AI for years and has its own 24/7 virtual assistant, Skye, on CarMax.com and was the first U.S. auto retailer with an app in the ChatGPT app store that supports car shopping.
About CarMax
CarMax, the nation's largest retailer of used autos, has earned customers' trust for more than 30 years by leading with integrity, transparency and honesty. CarMax continues to redefine car buying and selling for millions of customers, delivering the easy and confident experience they love. CarMax has more than 255 store locations, approximately 28,000 associates, and is proud to have been recognized for 22 consecutive years as one of the Fortune 100 Best Companies to Work For®. During the fiscal year that ended February 28, 2026, CarMax sold approximately 780,000 used vehicles and 540,000 wholesale vehicles at its auctions. In addition, CarMax Auto Finance originated $8 billion in auto loans during fiscal 2026, adding to its $16 billion portfolio. CarMax is committed to helping its communities thrive and reducing the environmental footprint of its operations. Learn more in the 2026 Responsibility Report . For more information, visit www.carmax.com .
About Sierra
Sierra is the platform that helps businesses build better, more human customer experiences with AI. With Sierra, companies deploy customer-facing AI agents that communicate in natural language, solve complex problems, and personalize every interaction—on any channel.
Sierra works with 40% of the Fortune 50, and 1 in 3 of the world’s leading banks. Across a range of industries, leading brands like The GAP, Rocket Mortgage, SoFi, Sutter Health, and Wayfair have partnered with Sierra to improve customer satisfaction in the moments that matter while driving operational efficiency and revenue growth.
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