Used Car Dealer Tricolor Expands Leadership Team
Former Capital One executive Josh Tseng named Vice President of Strategy
DALLAS, May 16, 2018; Tricolor, the nation’s largest used vehicle retailer focusing on the integrated sale and financing of vehicles to Hispanic consumers, today announced the addition of veteran Capital One finance executive Josh Tseng as its Vice President of Strategy. The addition of Tseng will help the company further scale its proven direct lending model and propriety credit scoring system to help more deserving customers access affordable financing.
“Historically, the separation between sales and financing in the used car industry meant inferior quality vehicles and predatory lending rates for consumers with little or no credit history,” said Tricolor CEO Daniel Chu. “Our proven direct lending model aligns risk and marketing to provide customers with high quality vehicles, transparent pricing and affordable lending terms. Josh is a proven financial services leader whose experience in data analytics and technology will help us further refine that model and expand it to reach even more people.”
For the past eleven years, Tseng has served at Capital One Financial Corporation in various roles leading product strategy, customer acquisition and loyalty, digital marketing, and advanced analytics. Most recently, Tseng led Capital One’s Prime Consumer Segment where he was responsible for improving credit risk performance and overall return on investment for the company.
“Tricolor is a pioneer in applying technology across its infrastructure, retail delivery and financial services teams to advance efficiency, lower costs, and improve the overall customer experience,” said Tseng. “I’m thrilled to be a part of a technology-enabled, mission-driven team that is proving it’s possible to responsibly and affordably serve car buyers with little or no credit history.”
Tseng earned his MBA from Washington University in St. Louis and holds a BBA from National Cheng Kung University in Taiwan, graduating as the class valedictorian.
Founded in 2007, Tricolor is a mission-driven company that sells and finances high quality, certified used motor vehicles through its premium brands, Tricolor Auto Group in Texas and Ganas Auto Group in California. It utilizes advanced data analytics and technology to advance financial inclusion to a highly underserved market and offer responsible, affordable, credit-building auto loans to individuals with no or limited credit history.
Headquartered in Dallas, Tricolor, together with its affiliate, Ganas Auto Group, operate thirty retail dealerships across twelve markets in Texas and California, as well as a shared services center in Guadalajara, Mexico. On a combined basis, Tricolor and Ganas have served more than 44,000 customers and disbursed nearly $800 million in affordable auto loans by using its proprietary model to segment risk.