CarLotz

Business Challenge

CarLotz, the nation’s largest consignment-to-retail vehicle business, aimed to develop a platform to optimize its portfolio returns and enhance remarketing speed and efficiency.

Analytics Solution

CarLotz developed a proprietary platform that integrates internal data sources and supports each step in the consignment, reconditioning and sales processes. The company also uses Artificial Intelligence Markup Language (AIML) interfaces to provide deep integration with its corporate vehicle sourcing partners, enabling the availability of real time information to CarLotz and its clients. Insights derived from vehicle sales performance data allow CarLotz to review its portfolio and obtain optimal vehicles for retail sales.

Impact

Using its platform, CarLotz is able to reduce days-to-sale, maximize customers’ financial returns on their vehicles, and track each step of the sales process. The platform also enables CarLotz to generate significant value for both sellers and buyers through price, selection and experience.