Upstart Launches First Auto Retail Software with AI-enabled Financing
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Upstart Auto Retail with AI-powered Financing (Graphic: Business Wire)
Upstart Auto Retail is the evolution of
“Buying a car is an iconic and memorable experience for most Americans, but the financing step is where things often unravel,” said
Each year, approximately
Upstart Auto Retail is an end-to-end retail platform that has helped top franchised dealers from 33 top brands such as
DGDG, the largest family-owned dealer group in the
“The auto selling solution we’ve been using from Upstart has empowered our salespeople to make the buying process more transparent and helped sell more vehicles at a higher profit," said
Upstart is currently rolling out AI-powered lending to a limited number of dealers. It will be available in early 2022 to all dealers using the platform.
This press release contains forward-looking statements, including but not limited to, statements regarding access to Upstart-powered or AI-powered auto loans through Upstart Auto Retail, DGDG and other dealer offerings of instant approvals of affordable financing, DGDG approving more borrowers by adding Upstart-powered financing, Upstart Auto Retail allowing dealers to provide the shopping experience that consumers demand, and the availability of Upstart-powered auto loans to all dealers. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "estimate", "expect", "project", "plan", “project”, "intend", “target”, “aim”, "believe", "may", "will", "should", “could”, "can have", "likely" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward-looking statements give our current expectations and projections relating to our plans; objectives; assumptions; risks; future performance; and business. Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The forward-looking statements included in this press release relate only to events as of the date hereof. Upstart undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected. More information about factors that could affect our results of operations and risks and uncertainties are provided in our public filings with the
1 - In 2019, total light-vehicle dealership sales exceeded