parts.com Signs 62 New Dealerships
11 April 2000
parts.com Signs 62 New Dealerships
SANFORD, FL--April 11, 2000--Only Four Days Into New Marketing Campaign
Dealerships Span More than 30 Vehicle Lines in 15 States
parts.com, Inc. (stock symbol: MIRM), a leading real-time business-to-business e-commerce parts exchange, today announced that it has signed 62 new Silver distributor/supplier agreements, with an additional 50+ agreements pending. The new distributors/suppliers collectively reported over $100 million in 1999 auto parts sales.
This early success bodes well for the company's current marketing campaign and further enables parts.com to strategically expand its distribution points, a critical step in the execution of its patent-pending business model. As parts.com continues to sign distributors/suppliers, parts inventories of hundreds, if not thousands, of dealerships nationwide will become accessible in the mere touch of a few keystrokes to the individual consumer and - more importantly - to business-to-business end-users, such as collision/body shops and repair garages.
"Dealers' parts inventories inevitably age - and consequently, their value depreciates. We believe that the expansion of the parts.com exchange will accelerate sales for our members by widening their parts visibility to reach a global audience," explained Shawn Lucas, Chairman and co-CEO of parts.com, Inc. "We are working hard to place every automotive dealer's parts inventory online through our network, in order to achieve a preeminent position in online business-to-business auto parts sales and distribution."
"The parts.com network includes many of North America's most prestigious parts dealer/distributors, including AutoNation USA , Hendrick Automotive Group, and Koons," stated Jeff Odato, Vice President of National Sales. "These industry leaders have already aligned themselves with parts.com's Web-enabled technology and business model because, unlike its predecessors, parts.com utilizes real-time technology as its foundation. Batch downloads and the jockeying of antiquated parts information are rendered obsolete, as distributors enjoy direct links with other parts departments via unlimited access to our exclusive online operating system, OCTANE (Order Control Tracking And Networking Environment)," concluded Odato.
parts.com's business model calls for Platinum Suppliers, Gold Suppliers and Silver Suppliers to build the infrastructure needed for "just-in-time" auto parts. This platform is expected to enable the parts.com parts exchange to deliver parts within hours - or even minutes - of order placement.
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 and parts buyers, 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 technology and logistics plan enables parts suppliers to deliver their product more quickly and cost-effectively than through traditional distribution channels. parts.com was officially launched on January 23, 2000 at the National Automobile Dealers Association's (NADA) annual conference in Orlando, Fla.
(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.)