Upstart Auto Retail Named Fastest Growing Digital Retail Software for Auto Dealerships
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"Our market data shows Upstart Auto Retail had the highest net growth in dealer count in the second quarter of this year, including preferred and exclusive OEM digital retail providers," said
The rapid adoption of Upstart Auto Retail among car dealerships is thanks to its unique combination of in-store customization for dealerships and online access for customers. Earlier this year, Upstart announced that it added mobile-first retail capabilities to its platform, further optimizing the customer experience. Subaru and
“We saw an early opportunity to create a more transparent, seamless experience for both dealerships and customers, which is now being realized in the market,” said
The growth marks an important milestone for Upstart, which continues to transform the car buying experience for customers and dealers – from browsing and selecting a car to quickly securing the best rates for an auto loan. Upstart introduced AI-powered financing to the auto market in 2021, so dealerships could offer affordable financing to more of their customers. Upstart’s AI models take into account more than 1,000 data points to paint a more accurate picture of creditworthiness than traditional credit scores.
Upstart (NASDAQ: UPST) is a leading AI lending marketplace partnering with banks and credit unions to expand access to affordable credit. By leveraging Upstart’s AI platform, Upstart-powered banks and credit unions can have higher approval rates and lower loss rates for every race, ethnicity, age, and gender, while simultaneously delivering the exceptional digital-first lending experience their customers demand. More than two-thirds of Upstart loans are approved instantly and are fully automated. Upstart was founded by ex-Googlers in 2012 and is based in
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1 Survey results from April to June among auto dealer deployments of auto software platforms, conducted monthly by
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