CarLotz Opens Hub Serving St. Louis Metro Area

Rhea-AI Summary

CarLotz (NASDAQ: LOTZ), the largest consignment-to-retail used vehicle marketplace, has opened a new hub in Fairview Heights, Illinois, serving the St. Louis metro area. This marks the company's third location in the Midwest. CarLotz's model offers sellers and buyers average gains of $1,000 or more, emphasizing exceptional customer service. The company aims to revolutionize vehicle buying and selling experiences across several states, including California and Colorado. Currently, CarLotz is hiring for numerous positions at this new location and others nationwide.

Positive

• Opening a new hub in Fairview Heights, enhancing presence in the Midwest.
• Average value generation of $1,000 or more for buyers and sellers.
• Expansion into multiple states, indicating growth and increased market reach.
• Currently hiring for numerous positions, signaling growth and job creation.

Negative

• None.

Opening Further Expands Consignment-to-Retail Auto Company’s Footprint in Midwest

RICHMOND, Va., Aug. 23, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it has opened 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 with easy access to its service, value and inventory.

“We are so excited to work with the people of St. Louis and be a part of this wonderful community,” said Michael Bor, Co-Founder and CEO of CarLotz. “Our one-of-a-kind consignment model provides guests with buying and selling benefits they won’t find anywhere else,” Bor continued. “Those benefits generate, on average, up to $1,000 or more in value for both sellers of vehicles and buyers of vehicles along with unparalleled customer service. Our guests leave with a feeling of excitement and pride around becoming part of the CarLotz used car family. We are thrilled to open our doors to the St. Louis community.”

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 is the company’s third location in the Midwest, with two additional locations in the greater Chicago market. CarLotz continues its rapid expansion, providing its full omnichannel offerings to guests in California, Colorado, Florida, Illinois, Missouri, North Carolina, Tennessee, Texas, Virginia and Washington State as well as Georgia and Nevada (both coming 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 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/159b5249-bcf5-4617-bbd3-faeea702fb2c

FAQ

What is the significance of CarLotz opening a hub in Fairview Heights?

The new hub enhances CarLotz's presence in the Midwest, providing local access to its services.

How does CarLotz generate value for its vehicle sellers and buyers?

CarLotz's model generates average gains of $1,000 or more for both sellers and buyers.

Which states is CarLotz expanding into?

CarLotz is expanding its operations in states including California, Colorado, Florida, Illinois, Missouri, North Carolina, and others.

What types of positions is CarLotz hiring for at the new location?

CarLotz is hiring for various roles, including sales coaches, service techs, and managers at the new hub.

What is CarLotz's mission?

CarLotz aims to create the world's greatest vehicle buying and selling experience.