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    LOTZ   US1425521085


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CarLotz Plants Roots in the Rockies

06/01/2021 | 09:12am EDT

Consignment-to-Retail Auto Company Plans First Colorado Hub

RICHMOND, Va., June 01, 2021 (GLOBE NEWSWIRE) -- CarLotz (NASDAQ: LOTZ), the nation’s largest consignment-to-retail used vehicle marketplace, announced today it will open a hub in Denver, Colorado. Located at 8120 West Tufts Avenue in Denver, the hub is the first for CarLotz in Colorado and in the Rockies. It is expected to open later this year.

“Anticipation around this hub has been building and we are so excited to bring our unique consignment-to-retail model to the Mile-High city,” said Michael Bor, Co-Founder and CEO of CarLotz. “Coupled with the announcement of our exciting entry into St. Louis, we are continuing to expand across the country and into the Southern Rockies. It feels like we simply can’t grow fast enough,” Bor continued. “We remain grateful to our team members for helping to explain the benefits that come with buying and selling through our consignment model,” Bor continued. “Once our guest understands that the real, tangible benefits we provide often generate, on average, up to $1,000 or more in value, our job is done.”    

CarLotz is on a mission to create the world’s greatest vehicle buying and selling experience for consumers and commercial consigners. This expansion into Colorado, coupled with its recent growth in the West, Southeast and Midwest, underscores CarLotz’s commitment to that mission. The company operates its full omnichannel offering out of hubs in in Virginia, North Carolina, Florida, Illinois, Tennessee, Texas, Washington State and California (opening soon).  

CarLotz is currently hiring for dozens of open positions including sales coaches, service techs, managers and other roles at the new Denver location 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 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. 

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a92a00b-1adb-471e-8a7e-aafcfae725cf

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CarLotz Denver

CarLotz to open in Denver.

© GlobeNewswire 2021
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Financials (USD)
Sales 2021 279 M - -
Net income 2021 - - -
Net Debt 2021 - - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 505 M 505 M -
Capi. / Sales 2021 1,81x
Capi. / Sales 2022 0,69x
Nbr of Employees 168
Free-Float 73,0%
Duration : Period :
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Technical analysis trends CARLOTZ, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 2
Last Close Price 4,44 $
Average target price 16,00 $
Spread / Average Target 260%
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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