PLANTATION, FL , Sept. 15, 2020 (GLOBE NEWSWIRE) — LMP Automotive Holdings, Inc. (NASDAQ:LMPX) (the “Company” or “LMP”), an e-commerce and facilities-based platform for consumers who desire to buy, sell, subscribe for or finance pre-owned and new automobiles, today announced its expansion to a new corporate and technology headquarters by leasing jetsmarters previous office space located at 500 East Broward Blvd. in Fort Lauderdale, Florida.
Richard Aldahan, LMP’s Chief Operating Officer stated, “This is perfect timing given our recently announced rapid growth and acquisitions. This space provides a cost-effective and seamless expansion to support customer service, quality assurance, logistics and fulfillment, e-commerce, sales and distribution. As we previously announced, we expect to have over 4,000 vehicles exposed and available on our online platform for our customers in 2021 as we begin to integrate and add to inventories shortly after closing our acquisitions that are currently under contract.”Sam Tawfik, the Company’s Chairman and Chief Executive Officer stated,ABOUT LMP AUTOMOTIVE HOLDINGS, INC. – “BUY, SUBSCRIBE, SELL AND REPEAT.”
LMP Automotive Holdings, Inc. (NASDAQ: LMPX) describes its business model as “Buy, Subscribe, Sell and Repeat.” This means that we “Buy” pre-owned automobiles primarily through auctions or directly from other automobile dealers, and new automobiles from manufacturers and manufacturer distributors at fleet rates. We “Subscribe” to our customers by allowing them to enter into our subscription plan for automobiles in which customers have use of an automobile. Our subscription plans offer the flexibility to upgrade your vehicle to a more premium model or downgrade for a lesser cost model when you like. We “Sell” our inventory, including automobiles previously included in our subscription programs, to customers as well, and then we “Repeat” the whole process.
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