Parts.com, Inc. (OTCBB:MIRM), a leading real-time business-to-business e-commerce parts exchange, today announced the success of its first E-commerce National Advisory Council.
As part of the Company’s on-going effort to form the largest independent e-commerce parts online exchange, parts.com hosted this first of several E-commerce Advisory Council Forums at its headquarters in Sanford, Florida on May 19th.
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Acting Moderator, Ted Rubin, Director of parts.com Dealer Operations, said, “We see that the ideas and information shared at this first Council will benefit the public and industry as a result of the caliber of professionals who made themselves available.”
“E-commerce is obviously slated to play a critical role in the future of the $600 billion auto parts sector,” stated Shawn Lucas, president and co-CEO of parts.com, Inc.
Lucas continued saying, “As the emerging business platform for the next century, I believe that the online auto parts sector could comprise up to 50% of all parts transactions within the next few years. Unless the industry is prepared to defend this opportunity, all that are concerned will risk losing a profit center to competing groups and entities. As an industry and as a business constituency, we must be able to design the current technology so that it reflects the true business transaction cycle.”
“Parts.com is serious about establishing a dialogue that produces technological integrity and commercial value. These parts professionals accepted the invitation to form what the Company expects to be the most powerful and knowledgeable auto parts think tank in the business today. These members were initially drawn from the parts.com dealer distribution network, which today represents over $1 billion in annual auto parts sales for 1999,” concluded Shawn Lucas.
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By GlobalData“We welcome all members of the first Council and already see the knowledge given to us as invaluable,” said Ted Rubin. “We also recognize we must move ahead with the kind of wisdom that only real field experience can offer.”
The E-Commerce National Advisory Council plans to meet about 3 times over the next 9 months, and will investigate new and emerging issues in the E-Commerce auto parts sector.
Each delegate was selected to the E-Commerce National Advisory Council to be representative of most manufacturer brands, sizes and locations in the US market. Parts.com’s objective is to address every issue from as many angles as possible, so that each step forward truly is necessary and beneficial.
The dealer representatives carry: Audi, BMW, Buick, Cadillac, Chevrolet, Ford, Honda, Hyundai, Isuzu, GMC, Jaguar, Kia, Lexus, Nissan, Oldsmobile, Pontiac, Porsche, Saab, Saturn, Toyota and VW franchises, and are located in California, Nebraska, North Carolina, Illinois, Maryland, New York, Texas and Virginia.
“It was a definite success,” noted Ted Rubin, Director of Dealer Operations. “We were able to present our direction and ideas to some of the most successful people selling OEM automotive parts, and instantly get the feedback and discussion needed to move forward effectively. Comments were insightful and constructive.”
Ben Manilla of AutoNation’s Libertyville Toyota said, “Parts.com has taken the parts business from the browser to the buyer, and has opened avenues of Internet sales to other current dealer partners. Parts.com has given us the ability to consolidate and direct resources to future business partners.”
Dan Gaul of Botnick Chevrolet stated, “The advisory board meeting was conducted in a very professional manner. I am very impressed with the officers of the company. Botnick Chevrolet is committed to the success of parts.com, and the entire parts.com dealer body has tremendous potential and value. It is evident that parts.com is making huge strides in the industry.” Mr. Gaul also stated that, “Aftermarket parts are a definite must.”
Rob Spiegel of Lustine Auto Group stated, “Dealers need to embrace an e-commerce initiative like parts.com because business will be done this way in the future. Parts.com can help dealers improve their parts business, but more importantly they can help dealers maintain the business they currently have.”
Ricky Gulledge of Hendrick Lexus said, “So far the parts sales for us are slow, but we knew going into this, it would be a year or two before the initiative paid for itself. I feel that parts.com will be the wave of the future for buying retail and wholesale parts over the Internet. As a dealer and part of the Hendrick Group we are happy to be business partners with parts.com.”
“Many improvements have been made to make the system work more effectively,” offered Tim Wilson of Folsom Lake Ford/Kia. “Aftermarket parts still seem to be a great opportunity for additional sales.”
And Joey Glover of Urban Nissan, Inc. believes, “Parts.com is one of the best Internet web sites for auto parts. Once everything is in place, I feel we will all have great success. Parts.com has been very receptive to the ideas that we have suggested, and their personnel are great people to work with. We look forward to having a long and rewarding relationship.”
Mr. Rubin concluded, “Much came out of this meeting. We will have our hands full over the next few weeks digesting the information that was gathered and adjusting our processes to meet the needs that were determined by the council. We still have things that need to be accomplished, but the progress that we have made is apparently evident to our dealers. Those on the Dealer Advisory Council truly see themselves as our partners, helping to steer us in the right direction. It is a tremendous advantage when you have the opportunity to let your customers tell you exactly what they want. Then all you have to do is deliver it to them. At parts.com we plan on doing just that.”
Each delegate was selected to the company’s Dealer Advisory Council to be representative of most manufacturer brands, sizes and locations in the US market. Parts.com’s objective is to address every issue from as many angles as possible, so that each step forward truly is necessary and beneficial.
The dealer representatives carry: Audi, BMW, Buick, Cadillac, Chevrolet, Ford, Honda, Hyundai, Isuzu, GMC, Jaguar, Kia, Lexus, Nissan, Oldsmobile, Pontiac, Porsche, Saab, Saturn, Toyota and VW franchises, and are located in California, Nebraska, North Carolina, Illinois, Maryland, New York, Texas and Virginia.
Now that parts.com has been fully operational for four months, the company and its dealerships are focusing their attention on increasing transactions through the site by web-enabling garages, collision repair facilities, fleets and recyclers. Parts.com will also begin addressing aftermarket parts which is targeted to begin in July to complete its just-in-time, OE and Aftermarket parts distribution.
About parts.com
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.
