CarLotz Plans First Hub in the Peach State

Rhea-AI Summary

CarLotz (NASDAQ: LOTZ) has announced the opening of its first hub in Georgia, located in Lilburn, aimed at enhancing its presence in the Atlanta area. This strategic move is expected to provide local guests with improved access to the company's consignment model, allowing buyers and sellers to benefit from significant value, including a 133-point vehicle inspection. CarLotz aims to deliver a seamless vehicle buying and selling experience through its omnichannel approach while continuing to expand throughout the Southeast.

Positive

• Opening first hub in Georgia enhances local market presence.
• Customers can access up to $1,000 in value for vehicle transactions.
• Vehicles undergo a comprehensive 133-point inspection.
• Offers a hassle-free shopping experience with trained sales coaches.

Negative

• None.

National Consignment-to-Retail Auto Company Plans New Hub to Serve Atlanta-Area Guests

RICHMOND, Va., June 24, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open its first hub in Georgia. Located at 4400 Stone Mountain Highway in Lilburn, the hub will provide CarLotz’s guests in the greater Atlanta area with easy access to its service, value, and inventory. The hub is expected to open later this year.

“We believe that being national in reach is critical but serving local communities is a competitive advantage.” said Michael Bor, Co-Founder and CEO of CarLotz. “We have sold cars on consignment for and sold cars to Georgians through our on-line marketplace for years, and now, we are thrilled to open this hub that will serve area guests with even greater ease and convenience. We are excited to be able to provide guests in Georgia with greater access to our consignment model while also becoming a part of the community in which our teammates live and work,” Bor continued.

CarLotz’s entry into Georgia and continued expansion in the Southeast will allow even more guests to experience the benefits that come with buying and selling through the company’s unique consignment model. Those benefits include:

• Up to $1,000 or more in value for both sellers of vehicles and buyers of vehicles.
• Every vehicle undergoes a 133-point inspection. 
• CarLotz Sales Coaches are non-commissioned, and CarLotz prices are haggle-free, so our only job is to make sure you leave happy with the vehicle you want. 
• Shop how you want: You can purchase a vehicle online and we will deliver it, or you can come in, work with our highly trained sales coaches in person and test-drive your next vehicle before you purchase it.  
• CarLotz offers financing for everyone, and everyone has three days to exchange their purchase for whatever reason and a 30-day warranty, just in case. 
• If you have a vehicle you need to get rid of, you can trade it in, we can buy it, or you can consign through us for thousands more.

CarLotz is on a mission to create the world’s greatest vehicle buying and selling experience for consumers and commercial consignors. CarLotz operates its full omnichannel offering through hubs in Virginia, North Carolina, Florida, Illinois, Tennessee, Texas, and Washington State, as well as California, Colorado, and Missouri (all three 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/7f3f5c20-2161-4141-8f2a-0f13e8b1b23c.

FAQ

What is the significance of CarLotz opening a hub in Georgia?

The new hub will enhance CarLotz's local market presence, providing easier access to its vehicle consignment services for Atlanta-area customers.

What benefits does CarLotz offer to vehicle buyers and sellers?

CarLotz offers significant value, including up to $1,000 for vehicle transactions, a 133-point inspection on every vehicle, and a hassle-free shopping experience.

When is the new CarLotz hub in Lilburn expected to open?

The hub in Lilburn is expected to open later this year, although a specific date was not provided.

How does CarLotz's consignment model benefit customers?

The consignment model allows sellers to get more value for their vehicles and buyers to access lower prices compared to traditional dealerships.

What roles is CarLotz hiring for at the new hub?

CarLotz is hiring for various positions, including sales coaches, service technicians, and managerial roles.