CarMax launches media and creative agency review

Used car retailing giant CarMax has begun a media and creative agency review in the U.S. The Martin Agency has been the creative incumbent since 2019 and is headquartered in Richmond, Virginia, where CarMax is also based. Dentsu X has handled media. Both incumbents have been invited to participate in the review, which is being managed by R3, according to CarMax. “We value our longstanding relationships with these partners and their contributions to our brand’s success,” CarMax said in a statement to Ad Age. Agency Review Tracker Stay up to date with the latest account reviews Click here “This review is part of our ongoing commitment to maintaining excellence in our advertising and media programs and continuing to advance CarMax’s culturally relevant brand,” CarMax said in the statement. “We look forward to engaging with a diverse group of agencies and exploring innovative approaches to continue to position CarMax as the top choice for used car buyers and sellers.” CarMax spent $135 million on U.S. measured media in 2023 and $99 million through the first two quarters of 2024, according to MediaRadar. “We’ve known from the start CarMax would review partners every few years,” said The Martin Agency CEO Danny Robinson. “We are proud of the work and relationship we’ve built over the last five years and we’re excited about what we can build together for the next five given the opportunity.” Leah Meranus, CEO of Dentsu X North America, stated: "Our partnership with CarMax is founded on mutual respect and a shared vision for success, and we take immense pride in the impactful work we’ve achieved together. We are excited to reaffirm our unwavering commitment to strengthening CarMax’s position as the top choice for used car buyers and sellers." CarMax ranks as the nation’s largest used-car-only retailer. It sold 765,572 used vehicles in its fiscal year ended Feb. 29, down 5.2% from the previous year, according to Automotive News. It is far ahead of second-place Carvana, according to the Automotive News rankings. CarMax sold 211,020 used vehicles in the quarter ending Aug. 31, up 5.1%, as net income grew 12% to $132.8 million. CarMax has leaned heavily into marketing around women’s sports. It became the WNBA’s first automotive retail sponsor in 2020 as part of a deal that includes the NBA. CarMax has worked closely with Wasserman’s dedicated women’s sports marketing agency, called The Collective. “We’ve really leaned on Wasserman to guide the development of that strategy and the resources that The Collective has provided have been essential to that process,” CarMax Chief Marketing Officer Sarah Lane told Ad Age earlier this year. Recent work from The Martin Agency has included a tie-in to the fall movie hit “Beetlejuice Beetlejuice.” An ad portrayed “BeetleMax,” a horrifying alternative to CarMax whose scary sales tactics were presented as a contrast to CarMax’s “no-haggle” prices. Read Ad Age’s Best of 2024 stories here

CarMax launches media and creative agency review

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