Consolidation cuts down number of software players
Summary
As the large dealership software companies continue to gobble up smaller players, independent vendors are taking note of a changing playing field. Kevin Singerman, CEO of AutoFi, a digital shopping and finance platform, told Automotive News last week that his companys continued sovereignty gives it an edge to pull forward in a market with few players of "any significant size." And remaining independent has allowed AutoFi to land partnerships with major players, without divided loyalties, he said. AutoFi works with more than 2,000 dealerships nationwide and already has close ties to Ford Motor Credit Co. and Chase Auto. Most recently, the company landed a deal to create a shopping and finance platform for Santander Consumer USA, one of the countrys largest subprime auto lenders and the private-label lending partner for Stellantis.