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Audi of America and Sunbit Announce Record 300% Increase in Revenue Among Participating Dealerships

Audi of America and Sunbit, the preferred Buy Now, Pay Later (BNPL)
technology for everyday needs and services, announced today the results of
their one-year partnership with Audi, as well as their cooperative plans for
participating Audi dealerships moving forward. A growing number of Audi of
America dealerships currently offer Sunbit technology to their parts and
services customers. Those dealerships have collectively realized a 300%
increase in parts and services financing revenue from early 2021 to early
2022. Moving forward, Audi of America and Sunbit will further cement their
relationship through dealer sign-up bonuses, service consultant incentives,
co-branded marketing materials, and event collaboration.

Sunbit, the preferred Buy Now, Pay Later option in one of three dealerships
in the United States, is widely recognized for its ability to improve
outcomes for both dealerships and their customers. Participating dealerships
see an uptick in services accepted, and customers are able to get necessary
services completed and get back on the road.

“Sunbit has proven to be a winning financial solution for our Audi customers
and dealers. Sunbit allows our Service Consultants to provide tremendous
customer satisfaction for all parts and service needs. Not only is the
process quick and easy, it approves over 96% of Audi customers and
contributes significantly to parts and service revenue,” said Kriston Noble,
Service Operations Lead, Audi of America. Noble continued, “We are excited
to work more closely with the Sunbit team to provide even better customer
awareness and service in the future. We are confident that this partnership
will continue to increase customer loyalty by ensuring every Audi customer
has the option to service now, pay over time.”

Since its rollout in early 2021, Sunbit’s technology has generated more than
$4 million in revenue for participating Audi of America dealership parts and
services centers. More than 2,000 customers have used Sunbit technology to
finance everything from new tires to body work to serious mechanical issues.
Today, hundreds of Audi associates are trained in Sunbit, offering Buy Now,
Pay Later technology to thousands of customers.

“Since launching in automotive in 2016, we’ve long known that financing
technology must be fast and easy to use and must be available to all
customers, not just some,” said Chad Beasley, Sunbit’s Head of Automotive
OEM.

Sunbit’s technology offers lightning fast access to personalized financing
options with minimal data entry. Approved consumers are given fair,
transparent, and fee-free choices with just a few clicks, and there are
never any hidden costs or origination fees.

“From how customers are treated on the service drive to concierge offerings
and types of financing choices they are offered, Audi of America dealerships
are setting a high bar for consumer satisfaction,” added Beasley.

About Audi of America
At Audi of America, we believe the Future is Electric. By 2025, our US model
lineup will be 30 percent electrified, including fully electric and plug-in
hybrid vehicles. Globally, we are committed to net CO2 neutrality by 2050.
In 2021, Audi sold 196,038 vehicles in the United States and more fully
electric models than ever before, with electric vehicle deliveries up by
more than 50% over 2020. Learn more about who we are and how we’re working
to create a more sustainable, innovative, and inclusive future at
audiusa.com or media.audiusa.com.

About Sunbit
Sunbit is the preferred buy now, pay later technology for everyday needs and
services. Sunbit eases the stress of buying everyday things by offering
access to fast, fair and transparent payment options to people everywhere.
Our technology is offered in-store and online at more than 11,000 locations,
including one in three auto dealership service centers, optical practices,
dentist offices, veterinary clinics, and specialty healthcare services. All
loans are made by Transportation Alliance Bank, Inc., dba TAB Bank, which
determines qualifications for and terms of credit.

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