Volkswagen Selects Upstart Auto Retail as Preferred Digital Retail Provider | Messages
SAN MATEO, Calif.–(BUSINESS WIRE)–Aug. March 2022–
Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced that its product Upstart Auto Retail has been selected by Volkswagen as one of its preferred digital retail providers to modernize dealerships through an omni-channel car buying experience.
As one of the world’s leading car manufacturers and the largest car manufacturer in Europe, Volkswagen continues to lead the development of the automotive industry. Upstart Auto Retail’s unique combination of online and brick-and-mortar retail experience coupled with its AI lending capabilities will allow Volkswagen to stay at the forefront of innovation.
“Online shopping and buying behavior has redefined the consumer experience so much that it has now become an expectation in other industries, including the automotive industry,” said Michia Rohrssen, GM of Upstart Auto Retail. “The appetite is huge on both sides – consumers who want to browse, shop and bid online at their own pace, and manufacturers and retailers who are eager to embrace and expand their digital retail solutions. Volkswagen has always been at the forefront of innovation and we look forward to driving digital retail expansion and initiatives now and in the future.”
While there are a variety of digital retail solutions in the auto industry, most lack a seamless transition from online to in-store. Upstart Auto Retail helps bridge these worlds through a comprehensive platform that keeps the customer experience consistent from start to finish. This continuity gives salespeople more insight when car buyers enter the dealership and creates a much more satisfying customer experience – from the first contact through the offer structure to the presentation of financial and insurance products.
“When we first started working with Upstart Auto Retail, they were a burgeoning digital retail startup. We chose them because other platforms just didn’t meet our needs. After working with them for so long, it’s been nothing but a success story,” said Platinum Volkswagen’s Josh Lever. “They have worked with me at the dealer level and have taken into account the needs of our dealership. I cannot thank the team enough for developing such a robust product that meets the needs of today’s retailers.”
Upstart (NASDAQ: UPST) is a leading AI lending platform working with banks to expand access to affordable credit. Leveraging Upstart’s AI platform, Upstart-powered banks can achieve higher approval rates and lower loss rates for every race, ethnicity, age and gender while delivering the exceptional digital-first lending experience their customers demand. More than two-thirds of Upstart loans are approved instantly and are fully automated. Founded in 2012 by ex-Googlers, Upstart is based in San Mateo, California and Columbus, Ohio.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220310005360/en/
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEY WORD: AUTOMOTIVE DATA MANAGEMENT GENERAL AUTOMOTIVE TECHNOLOGY OTHER TECHNOLOGY SOFTWARE
SOURCE: Upstart Holdings, Inc.
Copyright Business Wire 2022.
RELEASE: 10/3/2022 9:00 AM / DISC: 10/3/2022 9:01 AM
Copyright Business Wire 2022.