PARTS iD, Inc. (NYSE American: ID) (“PARTS iD” or “Company”), the
owner and operator of, among other verticals, “CARiD.com,” a
leading digital commerce platform for the automotive aftermarket,
today announced that it added over 5,000 new locations to its tire
installation network during the first quarter of 2022, bringing the
total number of participating installers to 7,270.
When browsing CARiD.com’s broad inventory of tires, customers
across the 48 contiguous U.S. states and Washington, DC now have
direct access to more local installation partners who can complete
the job. With this expansion, PARTS iD reports an increase in
installer density and service coverage in highly populous states
and metropolitan areas including Texas, metro New York, Southern
California, Florida and Chicago. Similarly, new installation
locations are now available in less populated states and regions
that previously saw low or no coverage through the tire
installation network including Iowa, West Virginia, Vermont,
Montana and North Dakota.
PARTS iD’s tire installation network is navigable from the
CARiD.com homepage. Customers can easily browse an estimated
15,000+ SKUs of tires available to find the right size and fit for
their specific vehicle by inputting its year, make and model.
Search results can be further refined by brand, price and tire type
(e.g. all-season, winter, or performance). At checkout, the
customer is prompted to explore local installation options by
entering their ZIP code. From there, they can scan a list of
participating installers, select their preferred store location
from available options and choose an installation date and time.
They also have the option of either direct delivery to the
installer or home delivery.
PARTS iD’s tire installation network relies on the company’s
proprietary fitment data and search functionality to offer
customers a reliable and convenient way to browse tire options by
style and price. By providing seamless access to installation
professionals directly within the purchasing journey, this service
offers a unique value proposition for “do-it-for-me” (DIFM)
customers who prioritize breadth of options and price points but do
not wish to complete the installation themselves.
“Expanding our tire installation network on CARiD.com is a key
strategic goal for PARTS iD and we’re thrilled to be well on our
way to reaching it with the addition of more than 5,000 new
locations,” said Nino Ciappina, CEO of PARTS iD, Inc. “Furthermore,
we believe our growing network of tire installers positions us well
to increase sales and awareness among the do-it-for-me segment of
automotive aftermarket customers.”
According to a report from Smithers, business-to-consumer (B2C)
e-commerce is the fastest-growing segment of the global tire
industry, accounting for roughly 6.5% of the total market as of
2018. Customers are gaining confidence in using online channels for
major purchases, like car parts. As this trend continues, PARTS iD
is well-positioned to increase sales and market share among DIY and
DIFM customers by offering a seamless tire shopping experience that
merges convenience and breadth of options with easy access to local
service providers who can help complete the job.
For more information, please visit www.partsidinc.com.
About PARTS iD, Inc.
PARTS iD is a technology-driven, digital commerce company
focused on creating custom infrastructure and unique user
experiences within niche markets. Founded in 2008 with a vision of
creating a one-stop e-commerce destination for the automotive parts
and accessories market, management believes that the Company is a
market leader and proven brand-builder, fueled by its commitment to
delivering a revolutionary shopping experience; comprehensive,
accurate and varied product offerings; and continued digital
commerce innovation.
Cautionary Note Regarding Forward-Looking
Statements
All statements made in this press release relating to future
financial or business performance, conditions, plans, prospects,
trends, or strategies and other such matters, including without
limitation, expected future performance, consumer adoption,
anticipated success of our business model or the potential for long
term profitable growth, are forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. In addition, when or if used in this press release, the words
“may,” “could,” “should,” “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “plan,” “predict,” “potential,” “confident,”
“look forward” and similar expressions and their variants, as they
relate to us may identify forward-looking statements. We operate in
a changing environment where new risks emerge from time to time and
it is not possible for us to predict all risks that may affect us,
particularly those associated with the COVID-19 pandemic, which has
had wide-ranging and continually evolving effects. We caution that
these forward-looking statements are subject to numerous
assumptions, risks, and uncertainties, which change over time,
often quickly and in unanticipated ways.
Important factors that may cause actual results to differ
materially from the results discussed in the forward-looking
statements include risks and uncertainties, including without
limitation: costs related to operating as a public company;
difficulties in managing our international business operations,
particularly in the Ukraine, including with respect to enforcing
the terms of our agreements with our contractors and managing
increasing costs of operations; the impact of health epidemics,
including the COVID-19 pandemic, on our business and the actions we
may take in response thereto; changes in our strategy, future
operations, financial position, estimated revenues and losses,
product pricing, projected costs, prospects and plans; the outcome
of actual or potential litigation, complaints, product liability
claims, or regulatory proceedings, and the potential adverse
publicity related thereto; the implementation, market acceptance
and success of our business model, expansion plans, opportunities
and initiatives, including the market acceptance of our planned
products and services; competition and our ability to counter
competition, including changes to the algorithms of Google and
other search engines; developments and projections relating to our
competitors and industry; our expectations regarding our ability to
obtain and maintain intellectual property protection and not
infringe on the rights of others; ability to maintain and enforce
intellectual property rights and ability to maintain technology
leadership; our future capital requirements, our ability to raise
capital and utilize sources of cash; our ability to obtain funding
for our operations; changes in applicable laws or regulations; the
effects of current and future U.S. and foreign trade policy and
tariff actions; disruptions in the marketplace for online purchases
of aftermarket auto parts; disruptions in the supply chain; and the
possibility that we may be adversely affected by other economic,
business, and/or competitive factors.
Further information on the factors and risks that could cause
actual results to differ from any forward-looking statements are
contained in our filings with the United States Securities and
Exchange Commission (SEC), which are available at
https://www.sec.gov (or at https://www.partsidinc.com). The
forward-looking statements represent our estimates as of the date
hereof only, and we specifically disclaim any duty or obligation to
update forward-looking statements.
Investors:Brendon
FreyICRir@partsidinc.com
Media:Erin HaddenFischTank
PRpartsid@fischtankpr.com
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