CarMax has used some effective marketing to position itself as a "cut above" your traditional used car lot. The jury is still out on whether or not CarMax gives you the best value, but their business model is very successful. Now Sonic Automotive wants part of the action.
Sonic Automotive is one of the largest new-car dealership companies, but with new car profit margins becoming slimmer, dealerships are finding used cars are where the money is. According to a report in the Wall Street Journal, Sonic plans to open a chain of used car franchises that follows the CarMax model.