RICHMOND, Va. and TAMPA, Fla., Jan. 29, 2018 /PRNewswire/ -- CarLotz, a Richmond, Virginia-based used vehicle consignment business serving the sale-by-owner and corporate fleet vehicle market, announced today the opening of its first store in Florida, located at 801 E. Bearss Ave. in Tampa. It is the company's sixth retail location and first in Florida.
"We're excited to expand the CarLotz footprint and bring our unique retail experience to the Tampa Bay area," said Michael Bor, CarLotz CEO. "We're looking all over the country to expand our business, and while we plan to open stores in many new states, Florida and, in particular Tampa, felt like the right fit for our first step into larger markets."
Since launching in 2011, CarLotz has opened five locations throughout Virginia and North Carolina. The company has seen increasing demand for its unique vehicle consignment business in the Florida area in recent years. "Tampa is a diverse car market, and the CarLotz expansion will serve sellers that want more money for their cars and buyers that want more car for their money," said Bor. "We are thrilled to bring our consignment model to Tampa on Bearss Avenue and become a member of the community."
In addition to its consumer consignment business, CarLotz is the country's largest retail remarketer for commercial sellers, using its consignment model to enable leasing companies, fleet management companies, banks, and even other dealerships to directly access retail buyers for vehicles they would otherwise sell through wholesale auctions. Through CarLotz, commercial consigners generate higher sales proceeds, while buyers gain access to a large inventory of well-maintained vehicles at a significant discount to traditional retail prices.
At 10,000 square feet, the Tampa store will have room for nearly 300 consigned vehicles. The facility supports reconditioning efforts to ensure vehicles are in excellent shape. CarLotz plans to initially hire 15 to 20 fulltime team members to work in sales, administration, and reconditioning.
The company's director of sales operations, John Foley, said, "Tampa has been incredibly welcoming. We have a unique business model that makes it easy for us to connect with the community because we can offer a different car buying and selling experience. CarLotz sellers make thousands more than trade-in value, and buyers save 10 to 20 percent versus traditional retailers, so the auto consignment concept creates a win-win for buyers and sellers. We also offer our car buyers a noncommissioned, transparent pricing model that removes the pressure from a traditional car buying experience. We're thrilled by the opportunity to bring this model to Tampa."
CarLotz will open for business on January 29, 2018 and will be open Monday through Saturday from 9:00 a.m. to 7:00 p.m. Following the completion of its retail center upgrades, CarLotz will host a formal grand opening sometime in the first quarter of 2018.
About CarLotz, Inc.
CarLotz (www.CarLotz.com) is a used vehicle consignment and retail remarketing business that enables consumers and corporations to make the most money possible when selling their vehicles. For a flat fee, CarLotz will prepare the vehicle for sale, market it nationwide, manage buyer questions and conduct test drives from its retail stores, negotiate a deal on the seller's behalf, and ultimately cut them a check when the vehicle sells. The company's unique consignment model typically generates sellers thousands more than trade-in and wholesale auction channels, while buyers shop attractive, competitively priced inventory online and through CarLotz retail locations. CarLotz was founded in 2011 and currently operates six retail locations and three reconditioning centers in Virginia, North Carolina, and Florida.
SOURCE CarLotz
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