AutoGravity Adds Real-Time Inventory Amid Financing Milestone
On the heels of reaching a milestone $1 billion of requested financing on AutoGravity, the startup is introducing real-time inventory on new and used cars for partnered dealership groups, the company announced in a press release this morning.
Prior to the integration, consumers were only able to browse through catalog models of the brands, rather than photos of the actual vehicles on the lot, a company spokesman confirmed to Auto Finance News. Now, when dealers refresh their existing automated inventory system the app will automatically update — no additional action is required on the part of the dealer.
In June, AutoGravity introduced real-time inventory on its FJ Drive app, which brings the company’s proprietary technology to Fletcher Jones Auto Group’s Mercedes-Benz dealerships and the brand loyal customers it serves. The startup is working to create a similar branded app experience for VW Credit Inc. customers after the lender made an equity investment in AutoGravity over the summer.
Additionally, the company said it has serviced requests for $1 billion in financing through its app. More than 750,000 people have downloaded the app to request financing from AutoGravity’s lender partners, including First Investors Financial Services, Mercedes-Benz Financial Services, VW Credit, Westlake Financial Services, and the newest entrant that was announced last week Hyundai Capital America.
“With over $1 billion in finance amount requested, AutoGravity is gaining momentum toward digitizing the car-buying journey, and real-time inventory brings our award-winning technology to the next level,” said Andy Hinrichs, founder and chief executive of AutoGravity. “We worked closely with our dealer partners, including some of America’s largest dealer groups, to give car buyers access to the showroom right from their smartphones.”
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