CarLotz Kicks Off Summer, Opening Three New Hubs

Rhea-AI Summary

CarLotz (NASDAQ: LOTZ) has expanded its national presence by opening three new hubs in Bakersfield, CA, Clearwater, FL, and Highland Park, IL. This brings the total number of operational hubs to 15, reinforcing the company’s commitment to enhancing the vehicle buying and selling experience. The new locations aim to provide unparalleled customer service through its unique consignment-to-retail sales model, allowing access to a wide range of vehicles. The openings were achieved simultaneously across different time zones.

Positive

• New hubs in Bakersfield, CA, Clearwater, FL, and Highland Park, IL enhance national presence.
• Total hubs increase to 15, demonstrating growth strategy.

Negative

• None.

Company expands national footprint with new hubs in California, Florida, and Illinois

RICHMOND, Va., June 28, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it has opened three new hubs across the country. The hubs, located in Bakersfield, CA, Clearwater, FL, and Highland Park, IL, further expand the company’s national footprint, bringing the total open hubs to date to 15, and underscoring its commitment to creating the world’s greatest vehicle buying and selling experience.

“Today marks a milestone for our company,” said Michael Bor, Co-Founder and CEO of CarLotz. “This is our first hub opening in the Golden State of California, our third hub in Florida and our second location in Illinois,” he continued. “I am grateful to our teammates who worked with incredible determination to ensure these three hubs open in one day -- all in different time zones. We look forward to welcoming guests to these new locations.”

The new hub locations are:

• 4608 Rudnick Court in Bakersfield, CA
• 13525 US Highway 19 in Clearwater, FL
• 250 Skokie Valley Road in Highland Park, IL
  

The CarLotz experience provides buyers and sellers with unparalleled customer service including its one-of-a-kind consignment-to-retail sales model that allows the company to put more value back in the hands of buyers and sellers. Whether buying a used Jaguar or Jeep, guests will have access to CarLotz’s full inventory of vehicles.

CarLotz operates its full omni-channel offering out of hubs in Virginia, North Carolina, Florida, Illinois, Tennessee, Texas, Washington State and California, as well as Colorado and Missouri (both opening soon).

CarLotz is hiring for sales coaches, service techs, managers, and other roles throughout the country. To learn more and apply, visit 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 omni-channel 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/45d7d8ee-fa60-44f7-8368-d0759b70eb40

FAQ

What are the new hub locations for CarLotz announced on June 28, 2021?

The new hub locations are 4608 Rudnick Court in Bakersfield, CA, 13525 US Highway 19 in Clearwater, FL, and 250 Skokie Valley Road in Highland Park, IL.

How many operational hubs does CarLotz have after the recent openings?

After the recent openings, CarLotz operates a total of 15 hubs across the country.

What is the significance of CarLotz opening new hubs?

The opening of new hubs signifies CarLotz's commitment to expanding its footprint and enhancing customer service in the vehicle buying and selling market.

What company is expanding its hubs with openings in California, Florida, and Illinois?

CarLotz is expanding its hubs with new openings in California, Florida, and Illinois.

When did CarLotz announce the opening of three new hubs?

CarLotz announced the opening of three new hubs on June 28, 2021.