Shift Technologies to exit East Coast stores acquired via CarLotz merger

Shift Technologies has announced it will be exiting its East Coast stores acquired as a result of its merger with CarLotz, Inc. in order to focus on building omnichannel capabilities in its other locations and on the company’s path to profitability. The store leases, inventory, and related assets in Richmond, Virginia, Charlottesville, Virginia, and Tampa, Florida, will be assumed by a local dealership group. The stores in Midlothian, Virginia, Charlotte, North Carolina, and Greensboro, North Carolina will be closed, effective immediately. In the past few months, Shift has re-introduced in-person selling capabilities at its core West Coast locations. The remaining legacy CarLotz locations in Pomona, California, which will serve the greater Los Angeles area, and Downers Grove, Illinois, which will serve Chicagoland, are being converted to omnichannel Shift locations. Customers are able to shop and purchase Shift’s full inventory online, from anywhere in the country, or visit their local Shift to speak to a representative or take a test drive at the store.