Selling, General and Administrative Expenses. CarLotz Inc. CarLotz, Inc. operates as a used vehicle consignment and retail remarketing business. Our strategy is to generate significant growth going forward by expanding into new geographic markets, innovating and expanding our technological leadership, further penetrating existing accounts and key vehicle channels, adding new corporate vehicle sourcing accounts, investing in brand and tactical marketing and increasing our service offerings and further optimizing our pricing. Earnings fell to a loss of $14.18 million, resulting in a 307.83% decrease from last quarter. Our corporate vehicle sourcing partners include fleet leasing companies, rental car companies, banks, captive finance companies, third-party remarketers, wholesalers, corporations managing their own fleets and OEMs. For the first quarter of 2021, the Company expects the following: For 2021, the Company expects the following: A conference call to discuss the fourth quarter and 2020 financial results is scheduled for today, March 15, 2021 at 4:30 pm ET. C.J. Richmond-based used car retailer CarLotz is being sued by some of its shareholders. We receive a rate of interest higher from our customer than the rate we pay to the third party lessor. We provide customers with options for financing, insurance and extended warranties. Growth in vehicles available-for-sale increases the selection of vehicles available to consumers in all of our markets simultaneously, which we believe will allow us to increase the number of vehicles we sell. Under the terms of the Note, AFC agreed to make one advance to CarLotz upon request of $3.0 million. The loans bore interest at a 1.0% annual rate. CarLotz Closes 50% of its Stores to Strategically Focus on - Yahoo! When a retail vehicle customer requests a vehicle lease, we obtain an operating lease from a third party lessor and then enter into a corresponding lease with our customer. With improved awareness of our brand and our services, we plan to identify, attract and convert new sourcing partners at optimized cost. The Richmond-based used car retailer, which went public through a so-called SPAC deal in January, has .
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