Parts.com, Inc. (stock symbol:MIRM), a leading real-time business-to-business e-commerce parts exchange, today announced that it has signed 125 new silver/distributor agreements, with an additional 35 pending.
The new distributors/suppliers collectively reported over $150 million in 1999 auto parts sales, putting the combined auto parts sales of all dealerships in excess of $1 billion.
The company’s continued marketing successes further strengthens parts.com’s distribution points allowing parts inventories of hundreds and soon thousands of dealerships nationwide to be accessible with the mere touch of a few key strokes.
“Parts.com continues to sign many of North America’s most prestigious parts dealer/distributors, including Sonic Automotive, Massey Auto Group, Feduke Motor Company, Gillman, Jay Marks Investment Group, Swope Motors and Marcus Allen Ford,” stated Jeff Odato, Vice President of National Sales. “These industry leaders will now have access to the OCTANE Systems full features and more importantly will become part of the parts.com OE (original equipment) and Aftermarket just-in-time strategy,” concluded Mr. Odato.
“Dealerships across the country continue to join parts.com at a rapid pace,” stated Shawn D. Lucas, Chairman, President and Co-CEO. “The most exciting expansion coming this summer is that of Aftermarket parts through our distribution network. Parts.com offers our dealerships the ability to purchase and/or distribute Aftermarket parts. This expanded product offering allows a greater probability of dealerships maintaining their valued customers after the manufacturers warranty has expired. Customer retention has been and will continue to be an important factor for both dealerships and car manufacturers,” concluded Mr. Lucas.
Parts.com believes its unique business model will continue to gain dealer support as profit margins decline in new car sales as well as in finance and insurance ancillary products. The parts and service department is becoming a central focus for customer retention and profits.
Parts.com provides a business-to-business e-commerce solution for the $600 billion auto parts industry. The site creates value for participants throughout the supply chain, including manufacturers, distributors, dealerships, collision repair shops, garages, recyclers and insurance companies, as a result of its unique, direct business model which eliminates a number of inefficient links in the supply chain inherent in the auto parts business. Parts.com’s OCTANE System and logistics plan enables parts distributors to deliver their product more quickly and cost-effectively than through traditional distribution channels. Parts.com was officially launched on January 23, 2000 and presently has 385 dealer/distributors whose combined auto parts sales, prior to joining parts.com, were in excess of $1 billion in 1999.
(This news release includes statements that may constitute forward-looking statements pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Although parts.com, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be met. Factors that could cause actual results to differ materially from parts.com’s expectations include the operational performance of parts.com, the Company’s success in entering into strategic alliances, parts.com’s and ReallyKnow.com’s operational and financial performance, industry conditions, demand for its products, as well as other risks.)