CarLotz Brings Its One-Of-A-Kind Used Car Offering to the Volunteer State
Company to open Nashville-area hub in coming weeks
RICHMOND, Va., March 08, 2021 (GLOBE NEWSWIRE) — CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open its first Tennessee hub in the coming weeks. The Nashville-area hub, located at 1821 Gallatin Pike N. in Madison, TN, is expected to open by the end of March.
CarLotz is on a mission to create the world’s greatest vehicle buying and selling experience for customers. “CarLotz’ consignment model is a category leader and our guests are responding,” said Michael Bor, Co-Founder and Chief Executive Officer of CarLotz. “Nashville is an exciting city and a meaningful milestone in our ambitious growth plan. We firmly believe the great people of Tennessee will be thrilled to get more money for their car and more car for their money. We can’t wait to open up and show our new guests what we’re all about.” Bor continued, “Nashville’s strong growth, vibrant community, and location are complementary to CarLotz’ other southeast US locations, and make this a perfect next step as we execute on our mission to spread the unique CarLotz model across the US.”
Tennessee marks the ninth southeast US opening for CarLotz and 11th nationwide, adding to its hubs in Virginia, North Carolina, Florida, Illinois and Texas. In addition, the Company recently opened its first west coast hub in Seattle, Washington, further expanding its full omni-channel offering.
For additional information, visit carlotz.com
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.