"Many of them are not really safety issues, they're just open recalls. Worst of all, Folliard downplayed the risks posed by safety recall defects, telling the audience: They're just too cheap to hire enough employees to do the job. So there's really no excuse for CarMax to neglect this vitally important step, especially when they advertise that all their vehicles must pass a rigorous inspection. And get this: the repairs are free, for at least 15 years from when the recall was issued. All CarMax has to do, is hire some more employees to take the recalled cars to nearby dealerships that are authorized by the manufacturer to perform safety recall repairs. But it's false to say that means that CarMax can't get safety recalls fixed. It's true that CarMax isn't a manufacturer. When asked about how CarMax handles safety recalls, his response was stunningly reckless and misleading.įirst, he said that because CarMax is not a manufacturer, they can't fix safety recalls. In fact, for most of them, a car crash is the most likely cause of death for their age group.Īfter boasting about his lucrative career at CarMax, Folliard (estimated net worth: " at least $125 million") took questions from the audience. In a shocking video, CarMax's former CEO / current Board President Tom Folliard minimizes the risks posed by safety recalls, while speaking at a public forum hosted by Florida Tech that included many college students, who are at high risk of being injured or killed in a car crash.
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