Business
Upstart Launches New Mobile-First Auto Retail Online Platform
SAN MATEO, Calif.--(BUSINESS WIRE)-- Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced its new mobile-first
About this update from Upstart Holdings, Inc.
[{"type":"text","content":" SAN MATEO, Calif.--(BUSINESS WIRE)--\nUpstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, today announced its new mobile-first Upstart Auto Retail online platform, delivering an improved user experience alongside new features. Upstart will be showcasing its new platform and announcing new OEM support and certification at the National Automobile Dealers Association Show (NADA) in Las Vegas, NV on March 11, 2022.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220309005465/en/Upstart Launches New Mobile-First Auto Retail Online Platform (Graphic: Business Wire)\nUpstart Auto Retail adoption among car dealers grew nearly 4X1 in 2021 thanks to its unique combination of in-store customization for dealers and online access for customers. In addition, VW is the latest OEM to announce support for Upstart Auto Retail. Upstart introduced AI-powered financing in 2021, so dealerships could offer affordable financing to more of their customers.\n\n“Dealers on our online platform see 66 percent of their traffic2 come from mobile devices. If you want to deliver the modern buying experience that today's car buyers expect, you absolutely need a world class mobile experience,” said Michia Rohrssen, GM of Upstart Auto Retail, “Buying a new car is not always a linear process, so we designed the new, mobile-first, online platform not only to adapt to the mobile usage of customers, but also to give the dealer more options to customize for each type of shopper and the pace of purchase.”\n\nThe new online experience release will introduce innovative design and features, such as:\n\n\nMobile First\nTo better serve the nearly two-thirds of customers coming to Upstart Auto Retail dealer websites from mobile devices, this mobile-first approach provides them with access to dealer inventory in the way they like to shop—on their mobile phone, tablet, or desktop browser.2 This online-to-in store experience gives a salesperson instant insights into customers interests and purchasing behavior, so they’re better prepared to structure deals when shoppers walk into the dealership.\n\n\nBrowse mode\nMany car buyers have a general idea of the car they’d like, but are also open to similar models. Browse mode enables filtering to search, sort, find, and compare vehicles of inter...