Tricolor hires former Dealertrack and DealerSocket exec as chief product and strategy officer

Tricolor chose an executive who has past experience with companies such as Dealertrack and DealerSocket to be its chief product and strategy officer.

On Monday, the used-vehicle retailer focused on the sale and financing to Hispanic consumers announced Jennifer Lee has been named to this position with an eye toward becoming more digitally enhanced.

“Now more than ever, companies must provide solutions for their customers which responsibly meet their needs,” Tricolor chief executive officer Daniel Chu said in a news release. “Jennifer shares our vision for remaking our industry as a digitally-driven experience that empowers and enables customers.

“Her incredible passion for innovation and entrepreneurial drive, combined with her deep and relevant industry experience, brings tremendous value to our team,” Chu continued.

With a career spanning more than two decades in the automotive and technology industries, Lee has served in senior leadership capacities for leading brands such as Dealertrack, Cox Automotive and DealerSocket. In these roles, Tricolor highlighted that Lee earned a reputation for catalyzing innovative solutions, crafting transformational product strategies, and delivering attractive growth in an industry traditionally slow to embrace change.

At Tricolor, Lee will be part of the core leadership team tasked with rapidly scaling its platform and retail network while expanding availability for its high quality, used vehicles and access to responsible auto financing options in new markets.

“Tricolor has built a compelling track record delivering inclusive, affordable vehicle and financing solutions that can both scale and fulfill on demanding customer expectations,” Lee said. “I am excited to apply all that I’ve learned to accelerate Tricolor’s powerful direct-to-consumer model with a game-changing combined digital and in-person customer experience.”

Since its founding in 2007, Tricolor has served over 60,000 customers and originated more than $1 billion in financing by using its proprietary model to segment risk.