CarLotz Expands Footprint in Home State of Virginia

March 15, 2021

Company to Open Charlottesville Hub in May

RICHMOND, Va., March 15, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open a fourth hub in its home state of Virginia. The new hub, the Company’s twelfth nationwide, located at 1389 Richmond Road in Charlottesville, is expected to open by the end of May. CarLotz currently operates its other Virginia hubs in Richmond, Midlothian, and Chesapeake.

“The Charlottesville community is home to a great diversity of car buyers and sellers -- students and educators, investors and innovators, all seeking a quality product, value, and service,” said Michael Bor, Co-Founder and CEO of CarLotz. “CarLotz’ one-of-a-kind consignment-to-retail-sales model allows us to put more value back in the hands of buyers and sellers. You can get more money for your car when you sell through CarLotz and more car for your money when you buy from CarLotz,” he continued. “We are excited to be a part of the Charlottesville community and believe this hub will provide meaningful growth as we expand our footprint across the southeast and throughout the Commonwealth of Virginia.”

Earlier this month, CarLotz announced that its first Tennessee opening, a hub in Nashville, is set to open by the end of March. CarLotz currently operates its full omni-channel offering out of 11 hubs nationwide including Virginia, North Carolina, Florida, Illinois, Texas, and Washington State.

CarLotz will begin hiring for sales coaches, service techs, managers and other roles at the new Charlottesville location in the coming days. 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 omni-channel 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.

CarLotz Contacts: Media Inquiries CarLotzPR@icrinc.com Leslie.Griles@carlotz.com

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