Honda Selects Upstart Auto Retail as a Digital Retailing Partner

Rhea-AI Summary

Upstart (NASDAQ: UPST) announces its Auto Retail platform has been certified as a Honda Digital Solutions partner, enhancing car purchasing for Honda dealers and customers nationwide. With the platform, Upstart Auto Retail optimizes the buying journey, allowing seamless transitions between online and in-store experiences. This partnership aims to boost sales and profitability for Honda through improved customer relations and experience. Upstart's platform, recognized as the fastest growing digital retail software, continues to add significant OEM certifications.

Positive

• Certified as a Honda Digital Solutions partner, expanding market reach.
• Enhances customer experience with seamless online to in-store transitions.
• Recognized as the fastest growing digital retail software for dealerships.

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• None.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending marketplace, today announced Upstart Auto Retail’s certification as a Honda Digital Solutions (HDS) partner. As an HDS Digital Retailing solution, Upstart Auto Retail’s modern car buying software is now available to Honda dealers and customers nationwide.

Millennial and Gen Z consumers purchase the majority of new and used cars in the U.S. Upstart Auto Retail helps Honda dealers provide the fast, transparent, and convenient car buying experience that most consumers now expect. From building and pricing, all the way through to F&I and signatures, Upstart Auto Retail’s easy integrated workflow gives Honda customers a consistent omnichannel purchasing journey that serves them when, where, and how they want to interact.

“Today’s customers do a lot of the car-buying process online before heading to the dealership, so Upstart Auto Retail gives them an intuitive mobile and web experience and seamless transitions to the showroom floor,” said Michia Rohrssen, GM of Upstart Auto Retail. “Honda has always had some of the most loyal customers, and our digital retail platform will enable Honda dealers to provide a best-in-class purchasing experience and boost sales.”

Honda offers a full line of clean, safe, fun, and connected vehicles sold through more than 1,000 independent U.S. Honda dealers. Upstart Auto Retail supports Honda’s commitment to helping Honda retailers improve relationships with customers and enrich the overall customer experience, while increasing sales and profitability.

“What I love most about Upstart Auto Retail is that it’s a combination of a high-quality digital retail tool with an in-store app that streamlines the process for both customers and sales—making it a game changer,” says Scott Thomas, General Manager of Buckeye Honda. “It’s a customer experience tool, a retention tool, and a profit generator all wrapped up into one.”

With today’s news, Upstart Auto Retail, the fastest growing digital retail software for dealerships (Automotive Market Data, Q2 2022), adds Honda to its growing roster of OEM certifications including Kia, Lexus, Mitsubishi, Subaru of America, Toyota, and Volkswagen.

About Upstart
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 San Mateo, California and Columbus, Ohio.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005089/en/

Press

Press@upstart.com

Sales

HondaInfo@upstart.com

Source: Upstart

FAQ

What is Upstart's new partnership with Honda?

Upstart's Auto Retail platform is now certified as a Honda Digital Solutions partner, streamlining the car purchasing process.

How does Upstart Auto Retail benefit Honda dealers?

The platform improves customer interactions and aims to boost sales and profitability for Honda dealers.

What distinguishes Upstart Auto Retail in the market?

Upstart Auto Retail is recognized as the fastest growing digital retail software, enhancing the car buying experience.

When was Upstart's announcement regarding the Honda partnership made?

The announcement was made recently, as detailed in their press release.

What stock symbol is associated with Upstart?

Upstart is traded under the stock symbol 'UPST' on NASDAQ.