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CarLotz Doubles Down in the Lone Star State

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CarLotz Plano

CarLotz is coming soon to Plano.
CarLotz is coming soon to Plano.
CarLotz is coming soon to Plano.

Consignment-to-Retail Auto Company Plans New Hub to Serve Dallas Market

RICHMOND, Va., July 29, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open a second hub in Texas. Located at 1001 Preston Road in Plano, the hub will provide CarLotz’s guests in the greater Dallas area with easy access to its service, value, and inventory. The hub is expected to open later this year.

“I am so grateful to our guests in Texas for really understanding the value CarLotz delivers as a peer-to-peer marketplace, a great place to buy a car, an innovative way to sell a car, and a business totally focused on the guest experience,” said Michael Bor, Co-Founder and CEO of CarLotz. “Our expansion from San Antonio to the greater Dallas area will allow even more guests to experience the benefits that come with buying and selling through our unique consignment model,” Bor continued.

CarLotz is on a mission to create the world’s greatest vehicle buying and selling experience for consumers and commercial consigners. CarLotz opened a hub in Denver earlier this week and continues its rapid expansion, providing its full omnichannel offerings to guests in California, Colorado, Florida, Illinois, North Carolina, Tennessee, Texas, Virginia and Washington State, as well as Georgia and Missouri (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 carlotz.com/careers or reach out to careers@carlotz.com.

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 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/88fb8388-f45b-4ef3-9901-bf1165c5f577


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