IRVINE, Calif. — AutoGravity announced that more than a quarter million users — more than half of whom are millennials — have downloaded the mobile technology provider’s iOS and Android apps for vehicle shopping and financing. The company also confirmed its network of partner car dealerships has grown to more than 1,000 rooftops, representing more than 1,400 franchise dealerships.
Since launching in 2016, AutoGravity has achieved significant growth across the U.S., securing partnerships with the nation’s top automotive lenders, as well as four of the top five national dealer groups, representing all new and used car brands available in the country, according to the company.
Additional data-driven findings from AutoGravity include:
- Economy cars continue to be a very popular choice. Economy brands rank in the top four most applied for vehicles across the U.S. and luxury car brands round out the top seven.
- Japanese brands perform in California, where Japanese economy and luxury car brands draw more searches than American brands.
- Millennials are cost-sensitive, seeking to borrow, on average, about 15% less and contribute a 25% smaller average down payment.
- New cars remain popular with boomers, two-thirds of whom pursue financing for new vehicles; only half of AutoGravity car shoppers ages 18 to 25 who pursue financing do so for new vehicles
AutoGravity is available for download on the Apple App Store and the Google Play Store. AutoGravity is also available as a mobile-responsive web app at AutoGravity.com.
Originally posted on F&I and Showroom