554 New Dealerships Join Parts.com Supplier Network In Four Days; 51% Increase Puts Total Dealerships At 1638; Part Sales Increase 218% From October to November.Business Editors SANFORD, Fla.--(BUSINESS WIRE)--Dec. 18, 2000 Parts.com, Inc. (Stock Symbol: MIRM MIRM McGowan Institute for Regenerative Medicine (University of Pittsburgh) MIRM Member, Institute of Residential Marketing ), a marketplace and software solutions provider for the automotive parts industry, announced the addition of 554 new dealerships raising the total dealership distribution to more than 1,600 and making parts.com the fastest growing just-in-time distribution of automotive parts in the country. The additional dealership lines added last week total 193 Chevrolet, Pontiac, GMC GMC See: Guaranteed Mortgage Certificate , Buick, Oldsmobile and Cadillac dealerships; 138 Chrysler, Plymouth, Dodge and Jeep dealerships; 124 Ford, Lincoln, Mercury dealerships; 87 European and Japanese Imports and 12 Saturn dealerships. "Parts.com continues to sign up dealerships in response to our free 12-month trial of TradeMotion Storefront," stated Shawn Lucas, President of parts.com. "We experienced a 218% increase in part sales in November and expect this trend to continue as the economy cools and consumers keep their cars longer," stated Mr. Lucas. "The automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. is experiencing a significant slowdown in new car sales. Dealerships blame the cause of the slowdown on the Presidential election, incentive cutbacks by automakers and lenders more stringent credit policies. Also, dealers have informed us that they are distressed with Ford over the Firestone fire·stone n. 1. A flint or pyrite used to strike a fire. 2. A fire-resistant stone, such as certain sandstones. Noun 1. situation, with GM phasing out its Oldsmobile division and with the major executive changes at Daimler Chrysler, all of which should fuel our rapid growth," stated Lucas. Dealership principals and general managers are focusing their attention on parts and service, which typically carries dealerships through difficult economic times. As revenue from new car sales declines, dealerships are turning to parts.com to improve order flow, maintain a higher level of customer service and reduce cost. "I believe Daimler Chrysler's insistence that its suppliers provide a five percent cost cut by January 1st, will only accelerate these tier-one suppliers searching for alternate means to grow revenue and profitability," stated Jon Palazzo, Vice President of Aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. Operations. "Suppliers are already working with low single-digit profits and parts.com could help them increase revenue and profitability," stated Mr.Palazzo. "Since the GM, Daimler Chrysler, Ford and Bell & Howell announcement, we have added 1012 new dealerships to our network of suppliers," stated Mr. Lucas. Once again, dealers have expressed interest in parts.com due to our neutral position, free product offering and built-in order flow. Our dealers seem hardly interested in an OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and portal, but desire a marketplace that brings aftermarket and recycled parts as well," continued Mr. Lucas. "Parts.com's accelerated development schedule has allowed for significant future cost savings and has enabled the company to streamline operations while reducing its future burn rate to less than $200,000 per month. Recent downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing will save an estimated $1 million on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis and will have no measurable effect on the company's product offering," concluded Shawn Lucas. About Parts.com Parts.com, based in Sanford, Florida Sanford is a city in and the county seatGR6 of Seminole County, Florida, United States. The population was 38,291 at the 2000 census. As of 2006, the population recorded by the U.S. Census Bureau is 49,124. , provides business-to-business e-commerce software solutions for the auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
This announcement contains "forward looking statements." Words "anticipate," "believe," "estimate," "expect," and other similar expressions as they relate to the Company and its management are intended to identify such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Although the Company and its management believe that the statements contained in this announcement are reasonable, it can give no assurances that such statements will prove correct. Factors that could affect the occurrence of events or results discussed herein are included with those mentioned in the Company's filings with the Securities and Exchange Commission. Reynolds & Reynolds and Bell & Howell are registered Trademarks. |
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