Carlotz Earnings Beat, Revenue Misses In Q3
- ByInvesting.com
- •
CarLotz, Inc. operates as a consignment-to-retail used vehicle marketplace that provides its corporate vehicle sourcing partners and retail sellers of used vehicles. The company serves corporate vehicle sourcing partners, which include fleet leasing companies, vehicle rental companies, banks, finance companies, third-party remarketers, wholesalers, corporations managing their own fleets, and original equipment manufacturers; retail sellers of used vehicles to individuals; and retail customers. It operates 22 retail hubs throughout the Mid-Atlantic, Southeast, Southcentral, Midwest, West, and Pacific Northwest regions of the United States. The company was incorporated in 2011 and is headquartered in Richmond, Virginia. As of December 9, 2022, CarLotz, Inc. operates as a subsidiary of Shift Technologies, Inc. On October 9, 2023, CarLotz, Inc. filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of California Northern. It is in Joint Administration with Shift Technologies Inc.