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    LOTZ   US1425521085

CARLOTZ, INC.

(LOTZ)
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CarLotz Grows in Virginia

06/07/2021 | 09:03am EDT

RICHMOND, Va., June 07, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, has opened a new hub in Charlottesville, Va., located at 1389 Richmond Road. The Charlottesville opening marks the fourth hub in CarLotz’s home state of Virginia and the 12th nationwide.

Charlottesville native and former manager of CarLotz’s Midlothian hub, Ned Gallaway, will oversee day-to-day operations of the new location. “We couldn’t be happier to open a hub in Charlottesville and to have it under the management of Ned Gallaway,” said Michael Bor, Co-Founder and CEO of CarLotz. “Ned has been an important part of the CarLotz family, leading our Midlothian team to significant growth. Our opening in Charlottesville is a win-win for us and Ned, personally. The local team will benefit from his leadership, and Ned is able to work every day in the community to which he is so dedicated to serving as part of the Albemarle County Board of Supervisors,” Bor continued.

The CarLotz experience provides buyers and sellers with unparalleled customer service, including its one-of-a-kind consignment-to-retail-sales model that allows the company to put more value back in the hands of buyers and sellers. Customers benefit by an average of $1,000 when they buy or sell at CarLotz. Whether looking for a Mazda or a Maserati, Charlottesville guests will have access to CarLotz’s full inventory of vehicles across the Commonwealth.

CarLotz continues its rapid expansion in the Mid-Atlantic region and nationwide, operating its full omnichannel offering out of hubs in Virginia, North Carolina, Florida, Illinois, Tennessee, Texas, Washington State and California, Colorado and Missouri (all three opening soon).

CarLotz is hiring for sales coaches, service techs, managers and other roles at the new Charlottesville location. 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 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 channel. Through our marketplace model, we generate significant value for both sellers and buyers through price, selection, and experience. 

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

Analyst Inquiries
CarLotzIR@icrinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/da1d9677-1d96-47d2-86b3-46ba93290d5c


Primary Logo

Charlottesville Hub Opening

CarLotz is now open in Charlottesville.

© GlobeNewswire 2021
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Financials (USD)
Sales 2021 282 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 521 M 521 M -
Capi. / Sales 2021 1,85x
Capi. / Sales 2022 0,71x
Nbr of Employees 168
Free-Float 73,0%
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Mean consensus BUY
Number of Analysts 2
Last Close Price 4,58 $
Average target price 16,00 $
Spread / Average Target 249%
Managers and Directors
Michael W. Bor Chairman & Chief Executive Officer
Thomas W. Stoltz Chief Financial Officer
Daniel A. Valerian Chief Technology Officer
John Foley Chief Operating Officer
Liz Sanders Chief Administrative Officer
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