Carlotz Announces First Hub in the Silver State

CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open its first hub in Nevada. The hub, located at 4701 West Sahara Avenue, in Las Vegas is expected to open by the end of the year.

“Las Vegas is a vibrant community filled with passionate car buyers and sellers,” said Michael Bor, Co-Founder and CEO of CarLotz. “With nearly 30,000 square feet to serve our guests, this will be one of CarLotz’s largest hubs opening this year and we are confident our one-of-a-kind service, value and inventory will prove to be a winning combination for the people of Las Vegas and the surrounding area.”

CarLotz is on a mission to create the world’s best vehicle buying and selling experience for its guests. The company’s entry into Nevada and expansion into the Southwest is an important step towards making that goal a reality and will allow even more guests to experience the benefits that come with buying and selling through its unique consignment model. Those benefits include:

• 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 options for everyone, and everyone has three days to exchange their purchase for whatever reason and a 30-day warranty.
• We’ll buy your car, or you can consign through us, even if you aren’t in the market to make a purchase.

CarLotz continues its rapid expansion, providing its full omnichannel offerings to guests in California, Florida, Illinois, North Carolina, Tennessee, Texas, Virginia and Washington State as well as Colorado, Georgia, and Missouri (all three coming soon).

CarLotz is currently hiring for dozens of open positions including sales coaches, service techs, managers, and other roles at locations around the country. To learn more and apply, visit www.carlotz.com/careers or reach out to [e-mail].

For additional information, visit carlotz.com. 

About CarLotz 

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 channels. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection, and experience. 

CONTACTS:

Media [e-mail]@carlotz.com

Analyst Inquiries [e-mail]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3bac826a-6dfb-4fbc-ba36-94e8ed448d92