Skip to main content

CarLotz Announces New Headquarters

Written by Customer Service on . Posted in Public Companies.

Move Affirms Investment in Virginia; Creates Nearly 200 Jobs for Virginians as Company Continues to Expand Nationally

RICHMOND, Va., June 11, 2021 (GLOBE NEWSWIRE) — CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open a new corporate headquarters in Richmond, Virginia. The company will relocate operations from its current location in the Manchester neighborhood of Richmond to the Handcraft Building in Scott’s Addition to accommodate current and future growth, which will create nearly 200 new jobs. After undergoing renovations, the new headquarters is expected to open later this year.

CarLotz was started ten years ago in Virginia as a peer-to-peer car consignment marketplace designed to put the value back into the hands of people. Today, it has grown to be the nation’s largest consignment-to-retail used vehicle marketplace with hubs across the country. CarLotz’s omnichannel approach offers guests exceptional experiences whether online or in-hub.

“CarLotz was born in Virginia, and we couldn’t be more excited to build this next chapter of the company right here in our home state and in the city we love,” said Michael Bor, Co-Founder and CEO of CarLotz. “Richmond will be our home base, focused on supporting the incredible team members at CarLotz hubs across the country. We are further investing in our physical and digital infrastructure so that, whether online or in-store, our guests have an unparalleled experience when buying or selling with CarLotz,” Bor continued.

The Virginia Economic Development Partnership worked with the City of Richmond to secure the project for Virginia. Governor Ralph Northam approved a $700,000 grant from the Commonwealth’s Opportunity Fund to assist Richmond with the project. CarLotz is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.

CarLotz is on a mission to create the world’s greatest vehicle buying and selling experience for consumers and commercial consigners. The company opened its fourth Virginia hub in Charlottesville earlier this week and recently announced its expansion into Colorado, as well as plans to open a hub to service the St. Louis area. The company operates its full omnichannel offering out of hubs in Virginia, North Carolina, Florida, Illinois, Tennessee, Texas and Washington State as well as California, Colorado, and Missouri (all three opening soon).  

CarLotz is currently hiring for dozens of open positions including sales coaches, service techs, managers, and other roles for its new headquarters as well as several other locations around the country. 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. 

CONTACTS:
Media Inquiries
CarLotzPR@icrinc.com
leslie.griles@carlotz.com

Analyst Inquiries
CarLotzIR@icrinc.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.