CarLotz Announces Expansion into the Gateway to the West
CarLotz (NASDAQ: LOTZ) has announced plans to open a new hub in Fairview Heights, Illinois, to cater to the St. Louis metro area. This location aims to enhance access for guests to its consignment-to-retail services. The hub is expected to benefit sellers and buyers with an average value increase of $1,000 or more per vehicle. This marks CarLotz's third Midwest location, supplementing its existing hubs in Virginia, North Carolina, Florida, and Illinois. The company is also hiring for various positions at the new site, signifying growth and expansion.
- New hub opening in St. Louis metro area enhances market presence.
- Estimated average value increase of $1,000 for sellers and buyers.
- Third location in the Midwest indicates strong regional growth.
- Hiring for various roles suggests operational expansion.
- None.
Consignment-to-Retail Auto Company Plans New Hub for St. Louis Guests
RICHMOND, Va., June 01, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open a hub to serve the St. Louis metro area. Located just outside of St. Louis at 1807 W Highway 50 in Fairview Heights, Illinois, the hub will provide CarLotz’s guests in the greater St. Louis market with easy access to its service, value and inventory. The hub is expected to open later this year.
“St. Louis is known for being the Gateway to the West – we are thrilled to have this vibrant community be a part of our journey,” said Michael Bor, Co-Founder and CEO of CarLotz. “Our continued expansion will allow even more guests to experience the benefits that come with buying and selling through our unique consignment model,” Bor continued. “Those real benefits often generate, on average, up to
CarLotz is on a mission to create the world’s greatest vehicle buying and selling experience for consumers and commercial consigners. The St. Louis hub will be the company’s third location in the Midwest, with two additional locations in the greater Chicago market. CarLotz operates its full omnichannel offering through hubs in Virginia, North Carolina, Florida, Illinois, Tennessee, Texas, Washington State, and California (opening soon).
CarLotz is currently hiring for dozens of open positions including sales coaches, service techs, managers, and other roles at the new location as well as several other locations around the country. To learn more and apply, visit www.carlotz.com/careers or reach out to careers@carlotz.com.
For additional information, visit carlotz.com.
About CarLotz, Inc.
CarLotz is a used vehicle consignment and Retail Remarketing™ business that provides our corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the previously unavailable retail sales channel, while simultaneously providing buyers with prices that are, on average, below those of traditional dealerships. Our mission is to create the world’s greatest vehicle buying and selling experience. We operate a technology-enabled buying, sourcing, and selling model that offers a seamless omnichannel experience and comprehensive selection of vehicles, while allowing for a fully contactless end-to-end e-commerce interface that enables no hassle buying and selling. Our proprietary Retail Remarketing™ technology provides our corporate vehicle sourcing partners with real-time performance metrics and data analytics, along with custom business intelligence reporting that enables price and vehicle triage optimization between the wholesale and retail channel. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection, and experience.
CONTACTS:
Media Inquiries
CarLotzPR@icrinc.com
leslie.griles@carlotz.com
Analyst Inquiries
CarLotzIR@icrinc.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9382031-b681-4fd6-b1f3-858cd9b881fc
