Motorcar Parts of America Receives 2005 Customer Value Enhancement Award From Frost & Sullivan
LOS ANGELES, July 25 -- Motorcar Parts of America, Inc. ("MPA") , a leading provider of remanufactured alternators and starters for the automotive aftermarket, announced today that Frost & Sullivan presented the company with the 2005 Customer Value Enhancement Award for its customer-first approach in the North American starters and alternators market at the at third annual Customer Value Enhancement Awards Banquet on July 20, 2005.
Selwyn Joffe, MPA's Chief Executive Officer, commented, "We are honored to be recognized with the Customer Value Enhancement Award. We continually strive to increase customer value by implementing a service program that enhances the overall customer ownership experience. We continually launch new programs to improve the usage rates for our products and create innovative services to assist customers in achieving their goals."
Frost & Sullivan presents this Award to companies that have demonstrated the ability to expand their customer base, while maintaining their existing installed base, and utilizing innovative value creation and enhancement strategies. This Award recognizes successful sales entry, customer acquisition and service strategies, and the degree to which these strategies have met customers' stated needs and requirements.
Frost & Sullivan cited the following best practices in its decision to recognize MPA with this award:
* Market intelligence programs such as quarterly scorecards that measure the key metrics of fill rates, lead times, warranty rates and order history. Such scorecards allow MPA to pinpoint customer issues and allow customers to track their progress. * Detailed instructions and illustrations that guide users through the installation process. This improves the end-user experience in addition to lowering the customer's processing costs. * A technical support web site and a toll-free technical help line staffed by ASE Master Technicians that provides a convenient one-stop resource for installation and diagnostic issues. * MPA's internal sales intelligence agency (SIA) that works directly with the customers and conducts field and competitive pricing studies.
"MPA provides dedicated support to customers by offering resources and information that they need to install MPA's starters and alternators safely, correctly, and efficiently," says Frost & Sullivan Research Manager Jasmine Sachdeva. "Moreover, the company has field representatives who work with customers to uncover and report potential opportunities to improve customer value and satisfaction. These initiatives have translated into greater market share from an expanding vehicle population."
According to Joffe, "MPA continues to be successful in attracting new clients and increasing business with our existing clients. Our ability to gather market intelligence and apply it to the customer experience has allowed us to gain market share in an already saturated market."
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com/.
About MPA
Motorcar Parts of America, Inc. (MPA) is a leading manufacturer of replacement alternators and starters for imported and domestic cars and light trucks in the United States and Canada. MPA has facilities in the United States in Torrance, California, Nashville, Tennessee, and Charlotte, North Carolina, as well as in Mexico, Singapore and Malaysia. The company websites are located at www.motorcarparts.com and www.quality-built.com.
Disclosure Regarding Private Securities Litigation Reform Act of 1995:
This press release contains certain forward-looking statements with respect to our future performance that involve risks and uncertainties. Various factors could cause actual results to differ materially from those projected in such statements. These factors include, but are not limited to: concentration of sales to certain customers, changes in our relationship with any of our customers, including the increasing customer pressure for lower prices and more favorable payment and other terms, potential future changes in our accounting policies that may be made as the SEC's review of our previously filed public reports proceeds, our failure to meet the financial covenants or the other obligations set forth in our bank credit agreement and the bank's refusal to waive any such defaults, increases in interest rates, changes in the financial condition of any of our major customers, the potential for changes in consumer spending, consumer preferences and general economic conditions, increased competition in the automotive parts industry, unforeseen increases in operating costs and other factors discussed herein and in our filings with the Securities and Exchange Commission.