CarLotz, Inc. is focused on operating in vehicle consignment and retail remarketing business. The Company provides corporate vehicle sourcing partners and retail sellers of used vehicles with the ability to access the retail sales channel. It operates a technology-enabled buying, sourcing and selling model that offers an omnichannel and selection of vehicles, while allowing for an end-to-end electronic commerce interface that enables buying and selling. The Company’s Retail Remarketing technology provides its 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. The Company offers its products and services to corporate vehicle sourcing partners, retail sellers of used vehicles and retail customers seeking to buy used vehicles.