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CarLotz (NASDAQ: LOTZ) has expanded its marketing campaign, "it feels good to be a used car person," into the Midwest as of February 15, 2022. This campaign, which began in August 2021, aims to enhance brand awareness in key markets including Chicago and Dallas through television, digital ads, and OOH initiatives. The Chief Marketing Officer emphasized the campaign's goal to celebrate both the vehicles and the people who buy them, reinforcing CarLotz's commitment to a more transparent vehicle-buying experience. The new content will premiere today, further engaging regional audiences.
CarLotz (NASDAQ: LOTZ) announced that Holly Vollant, Senior Vice President of Retail Remarketing, has been appointed to the Executive Committee of the International Automotive Remarketers Alliance. With nearly a decade of involvement in the IARA and two years as co-chair of the Membership Committee, Holly has been recognized for her leadership in the automotive industry. Her role at CarLotz involves enhancing business growth and maximizing value in remarketing portfolios for various clients. This appointment highlights CarLotz's commitment to leadership within the vehicle remarketing sector.
CarLotz (NASDAQ: LOTZ) has partnered with Privacy4Cars to enhance data privacy for customers selling or consigning vehicles. This initiative aims to securely eliminate personal data from vehicles, addressing concerns regarding data privacy as highlighted during National Data Privacy Week. The partnership supports CarLotz's mission to improve the used car selling experience, ensuring consumers can confidently transact without privacy worries. Privacy4Cars states that over 80% of sold cars last year contained personal data, underscoring the importance of this collaboration.
CarLotz (NASDAQ: LOTZ) has opened its second hub in Alabama, located in Huntsville. This site represents the 14th hub launched by the company in 2021, following the recent openings in Mobile and Huntsville. The new hub aims to enhance customer access to CarLotz's omnichannel services and diverse vehicle inventory. The company continues to expand its operations across various states and is actively hiring for multiple positions across the country to support its growing services.
CarLotz (LOTZ) has opened its first hub in Mobile, Alabama, enhancing access to its consignment-to-retail used vehicle marketplace. This strategic move aims to provide outstanding service and inventory to customers, with a second hub planned for Huntsville later this month. CarLotz's expansion in the Southeast supports its mission to revolutionize vehicle buying and selling experiences. The company is also hiring for various positions across the country to bolster its operations.
CarLotz reported record revenue of $68.0 million for Q3 2021, a 128% increase from $29.8 million in Q3 2020. Retail unit sales rose by 58%, totaling 2,490 units. Despite the revenue growth, the company faced a net loss of $(3.5) million and an adjusted EBITDA of $(22.8) million, impacted by the ongoing chip shortage affecting its consignment model. CarLotz anticipates improvement in retail units sold and gross profit per unit in Q4 and plans to continue expanding hub locations, although at a slower pace than 2021.
CarLotz (NASDAQ: LOTZ) has opened a new hub in Pomona, California, expanding its presence in the Golden State. This marks the second location in California this year, enhancing access to its consignment-to-retail model for buyers and sellers in the greater Los Angeles area. Co-Founder Michael Bor highlighted the positive reception from Californians towards their unique model. The company continues to expand nationwide, now operating in multiple states and seeking to fill numerous open positions across various roles.
CarLotz plans to announce its third quarter 2021 results on November 8, 2021, after market close, followed by a conference call at 5:00 p.m. ET. The call can be accessed via U.S. toll-free dial-in at 1-833-962-1461 or internationally at 1-929-517-0392, using Conference ID 1488810. A live webcast will also be available on the company's investor relations page. A replay will be accessible from November 8 to November 15, 2021. CarLotz operates as a technology-enabled used vehicle consignment marketplace aimed at providing competitive pricing and a seamless buying experience.
CarLotz (NASDAQ: LOTZ) has opened a new hub in Plano, Texas, located at 1001 Preston Road. This marks the second location in Texas, complementing the existing hub in San Antonio. The new hub aims to enhance access to CarLotz's unique consignment-to-retail vehicle marketplace for customers in the Dallas/Fort Worth Metroplex. The company continues to expand its presence across several states, focusing on delivering an exceptional vehicle buying and selling experience while also hiring for multiple roles at this and other locations.
CarLotz (NASDAQ: LOTZ) has announced the opening of a new hub in Huntsville, Alabama, enhancing its footprint in the state after launching its first hub in Mobile earlier this month. This hub aims to provide local customers with access to CarLotz's unique peer-to-peer vehicle buying and selling experience. The company's ongoing expansion strategy includes establishing additional hubs across various states, including Alabama and Nevada. Currently, CarLotz is hiring for multiple positions at the new location and others nationwide.
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