CarLotz, a used vehicle consignment business with locations in Virginia, North Carolina, Florida, Illinois, and Texas, serving the sale-by-owner and corporate fleet vehicle market, today announced that Michael Bor, Aaron Montgomery, and Will Boland, CarLotz co-founders, are finalists for the EY Entrepreneur Of The Year® 2019 Mid-Atlantic Award. Widely considered one of the most…
CarLotz Continues the Rapid National Expansion of Its Used Vehicle Consignment Store With New San Antonio Location Serving the Greater Southwest United States CarLotz, a Richmond, Virginia-based consignment store for used vehicles, today announced its continued national expansion with its first Texas location opening on I10 in San Antonio. Along with the other stores opened…
CarLotz is proud to celebrate consignment as the smart and sustainable way to shop, earn money, and extend the lifecycle of a wide variety of items – including used automobiles! National Consignment Day is observed the first Monday of October every year, marking a period of time that CarLotz and others around the United States…
On the surface, managing the total cost of ownership for vehicle fleets seems like a fairly straightforward calculation: Buy the right vehicles at a discounted price with low depreciation rates, take good care of them, maybe recondition them a bit before sale and wholesale them off as quickly as possible. Then, start all over again. In…
The auto remarketing industry is at an interesting point in its history. The number of off-lease vehicles continues to rise, and wholesale prices are dropping in tandem. As more and more cars roll through, auto remarketers could easily get caught in a higher volume, lower margin cycle. Within this evolving environment, a fresh strategy can…
When consigning a vehicle for retail sale, sellers face an important question: What, if any, investment should I make in improving the vehicle’s condition to maximize its sale value? The answer depends, first and foremost, on the specific condition of the vehicle but is certainly influenced by the unique preferences of the likely retail buyer…
While various wholesale channels are an efficient way to remarket large volumes of end-of-cycle inventory, retail remarketing generates significantly higher proceeds and is playing an increasingly important role in remarketers’ portfolios. But how do fleet management companies and other commercial consigners that utilize retail remarketing decide what vehicles in their portfolio to retail versus wholesale?…
While wholesale auctions are still the primary channel for commercial vehicle owners to remarket end-of-cycle vehicles, a growing trend among progressive vehicle remarketing professionals has been to sell vehicles through the emerging retail channel, either through their own dealerships, online service providers, or retail consignment. What’s driving this trend? 1. Growth in off-lease volume First…
Richmond, VA (August 15, 2018) –Richmond-based vehicle consignment and remarketing business, CarLotz, is excited to announce that it has made the Inc. 5000 list of fastest-growing private companies in America, landing at No. 460 on the 37th annual ranking by Inc. magazine. The Inc. 5000 list represents a unique look within the American economy’s most…
CarLotz, a Richmond, Virginia-based used vehicle consignment and remarketing business serving the sale-by-owner and corporate fleet vehicle markets, announced today that it will continue its nationwide expansion with the opening of its first store in Illinois, located at 2150 Ogden Avenue in Downer’s Grove, a suburb of Chicago. It will be the company’s seventh and…
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