LOTZ - CarLotz Announces First Hub In Alabama

Company revs up Southeast expansion

PR Newswire

RICHMOND, Va. , Sept. 7, 2021 /PRNewswire/ -- CarLotz (NASDAQ: LOTZ), the nation's largest consignment-to-retail used vehicle marketplace, announced today it will open its first hub in Alabama . The hub, located at 3016 Government Blvd in Mobile , is expected to open later this year.

"We are thrilled to announce our entry into the great state of Alabama ," said Michael Bor , Cofounder and CEO of CarLotz. "With our first Georgia hub opening later this month, we are ramping up our growth in the Southeast and look forward to welcoming guests to our new hubs where they will have easy access to the exceptional service, real value and diverse inventory CarLotz provides."

CarLotz is on a mission to create the world's best vehicle buying and selling experience for its guests. The company's entry into Alabama , coupled with its multiple locations in Florida , is a significant step towards making that goal a reality. CarLotz's growth will allow even more guests to experience the benefits that come with buying and selling through its unique consignment model. Those benefits include:

• Every vehicle undergoes a 133-point inspection.
• CarLotz Sales Coaches are non-commissioned, and CarLotz prices are haggle-free, so our only job is to make sure you leave happy with the vehicle you want.
• Shop how you want: You can purchase a vehicle online and we will deliver it, or you can come in, work with our highly trained sales coaches in person and test-drive your next vehicle before you purchase it.
• CarLotz offers financing options for everyone, and everyone has three days to exchange their purchase for whatever reason and a 30-day warranty.
• We'll buy your car, or you can consign through us, even if you aren't in the market to make a purchase.

CarLotz continues its rapid expansion, providing its full omnichannel offerings to guests in California , Colorado , Florida , Illinois , Missouri , North Carolina , Tennessee , Texas , Virginia and Washington State as well as Alabama , Georgia and Nevada (all three coming soon).

CarLotz is currently hiring for dozens of open positions including sales coaches, service techs, managers, and other roles at locations around the country. To learn more and apply, visit www.carltoz.com/careers or reach out to careers@carlotz.com .

For additional information, visit carlotz.com .

About CarLotz

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 channels. 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

SOURCE CarLotz