- Sector
- Consumer Cyclical
- Industry
- Auto - Dealerships
- Address
-
- IPO Date
- Apr 15, 2019
- Business
- CarLotz, Inc. (LOTZW) operates as a consignment-to-retail used vehicle marketplace, providing corporate vehicle sourcing partners and retail sellers of used vehicles with access to retail buyers through its asset-light, technology-enabled platform; core services include Retail Remarketing, proprietary data analytics for price optimization and vehicle triage between wholesale and retail channels, omni-channel buying and selling experiences encompassing e-commerce, phone, and in-person transactions, and contactless end-to-end vehicle consignment and retail sales. The company serves fleet leasing companies, vehicle rental companies, banks, finance companies, third-party remarketers, wholesalers, corporations managing their own fleets, original equipment manufacturers, individual retail sellers, and retail customers, with operations across 22 retail hubs in the Mid-Atlantic, Southeast, Southcentral, Midwest, West, and Pacific Northwest regions of the United States. Founded in 2011 and headquartered in Richmond, Virginia, CarLotz went public in 2021 via a business combination with Acamar Partners. In December 2022, CarLotz merged with Shift Technologies, Inc. in a stock-for-stock transaction, becoming a wholly owned subsidiary under the combined entity's Nasdaq ticker SFT and integrating complementary geographic footprints and technologies to enhance omnichannel used auto retail capabilities. Shift Technologies and its subsidiaries, including CarLotz Group, Inc., filed for voluntary Chapter 11 reorganization in October 2023 in the U.S. Bankruptcy Court for the Northern District of California, with the plan converted to Chapter 11 liquidation approved on September 26, 2024; ongoing proceedings include a $13 million securities litigation settlement finalized in July 2025.