LOTZ - LOTZ STOCK NEWS

CarLotz (NASDAQ: LOTZ) will open its first hub in Alabama located at 3016 Government Blvd, Mobile, later this year. This expansion follows the opening of a hub in Georgia, marking significant growth in the Southeast marketplace. CarLotz aims to enhance the vehicle buying and selling experience by providing a unique consignment model that offers haggle-free pricing, a 133-point inspection for every vehicle, and flexible purchasing options. The company is also hiring for various positions across its locations, reinforcing its commitment to growth and service.

CarLotz (NASDAQ: LOTZ) has completed its first mural installation in Bakersfield, CA, as part of a national art project to engage local communities. The mural, inspired by the song 'Streets of Bakersfield,' aims to invite community members to experience CarLotz's unique consignment marketplace. Created by local artists, it reflects community pride and inclusivity. The dedication ceremony will occur on August 25, 2021. This initiative is part of CarLotz’s mission to enhance vehicle buying and selling experiences while expanding its operations across the country.

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.

CarLotz (NASDAQ: LOTZ) has launched a major brand campaign to enhance its identity as a leading consignment-to-retail used vehicle marketplace. Initiated on August 2, 2021, the campaign utilizes various media including out-of-home and digital formats, with plans for television and influencer marketing. The campaign aims to reshape perceptions of used cars, promoting a sense of pride in purchasing them. The initiative is part of CarLotz’s mission to deliver superior vehicle buying and selling experiences.

CarLotz reported a strong second quarter ending June 30, 2021, with net revenues increasing by 92% to $50.8 million, compared to $26.4 million in 2020. Retail unit sales grew 46% to 2,009 vehicles. Gross profit rose 53% to $4.2 million, with Retail GPU up 17% to $2,175. However, the company withdrew its 2021 outlook due to ongoing chip shortages and market uncertainty. The net loss for the quarter was $(7.2 million), representing $(0.06) per diluted share.

CarLotz, the largest consignment-to-retail used vehicle marketplace in the U.S., is expanding into Louisiana by opening its first hub in Baton Rouge at 9550 Airline Highway. This hub aims to provide local customers with easy access to CarLotz's services, including a 133-point vehicle inspection and a hassle-free buying experience. The company is actively hiring for various positions to support this expansion. CarLotz's unique consignment model allows consumers to buy or sell vehicles at competitive prices while ensuring a seamless omnichannel experience.

CarLotz (LOTZ) announced the opening of its second hub in Texas, located in Plano, to serve the Dallas market. This expansion is designed to enhance access to its services and inventory for customers in the greater Dallas area. The hub is expected to open later this year, following the recent launch of another hub in Denver. The company continues its rapid growth across various states, hiring for multiple positions to support this new location. CarLotz aims to improve the vehicle buying and selling experience through its innovative consignment model.

CarLotz (NASDAQ: LOTZ) announced that CEO Michael Bor and CFO Tom Stoltz will present at the J.P. Morgan Virtual Auto Conference on August 12, 2021, at 3:20 PM ET. The presentation can be accessed via a webcast on the company's investor relations site, with a replay available afterward. CarLotz specializes in consignment-to-retail used vehicle sales, offering competitive pricing and a seamless omnichannel experience. The company leverages its proprietary Retail Remarketing™ technology to provide value through real-time data analytics and extensive vehicle selection.

CarLotz (NASDAQ: LOTZ) has officially launched its first hub in Colorado, located in Denver. This marks a significant expansion in the company’s efforts to provide its unique consignment-to-retail vehicle marketplace. CEO Michael Bor expressed excitement about offering services to the Mile-High community. The company is also pursuing further expansion with plans for a hub in Las Vegas. Currently, CarLotz operates in multiple states including California, Florida, and Texas, and is actively hiring for various positions nationwide.