Platinum Auto Finance recently made a series of strategic moves, including an expansion in markets near its base in Florida while closing one of its facilities in North Carolina.

The expansion portion of the subprime auto finance company’s strategy involves increasing its sales presence in key markets in Florida and expanding its customer service team significantly.

As part of the strategic initiative, Platinum Auto Finance shared that it is evaluating its dealer relationships outside the state of Florida, too. The company added that it expects changes to its dealer partners based on the historical success of the relationship and the prospects for continued success going forward.

At this point in the credit cycle, Platinum’s ownership group and senior management said it recognizes the impressive accomplishments of other companies in subprime auto finance space, especially with regard to expense ratio improvements and technology implementation.

“The company believes that becoming increasingly efficient through technology and scale combined with increased utilization of data analytics will further boost Platinum’s profitability and attractiveness for the long-term,” officials said.

The company went on to mention Platinum’s ownership group is actively increasing its financial commitment to the business, and its strategic plan will continue to drive balance sheet strength.

“In turn, this strengthens our position going forward as well as further solidifies our relationship with our senior lender, First Tennessee Bank,” officials added.

Meanwhile, Platinum Auto Finance said part of the expansion in Florida involves the closing of the company’s regional center in Charlotte, N.C.

“We wish our dedicated and hard-working staff in Charlotte the best in the future and thank them for all of their efforts on the Company’s behalf,” Platinum senior vice president David Knightly said.

“It is imperative that we consolidate our structure both from a cost and efficiency perspective,” Knightly continued. “It also gives us the opportunity to improve our culture and message to our team members here in our main office.”