PARTS iD, Inc. Achieves 350% Growth in Original Equipment Parts Segment

The company has onboarded products from nearly 34 major manufacturer brands, including Ram, Ford, Honda and Toyota

CRANBURY, N.J., Sept. 08, 2021 (GLOBE NEWSWIRE) — PARTS iD, Inc. (NYSE American: ID) (“PARTS iD” or “Company”), owner and operator of, among other things, “CARiD. com,” a leading digital commerce platform for the automotive aftermarket, today provided an update on its growth within the original equipment (OE) parts segment. OE parts, which are the same parts used to assemble the vehicle at the factory, continue to be a high growth area for PARTS iD, with the company seeing 350% growth in OE business in the first half of 2021 compared to the first half of 2021. first half of 2020.

In 2020, the company invested heavily in cultivating OE products, integrating nearly 34 major manufacturer brands, including Dodge, Jeep, Hyundai and Lexus. Following this successful expansion, PARTS iD now lists approximately two million OE SKUs, significantly expanding its product selection to provide customers with a diverse range of spare parts and OE parts, all on one e-commerce platform. .

Original equipment parts remain the dominant segment of the aftermarket auto parts industry, with Grandview Reports OE Parts Claim 72.9% Market Share in 2020. These factory-identical parts provide customers with quality assurance and a greater range of options. As it seeks to increase its market share with a wide range of customers, including enthusiasts, do-it-yourselfers and those looking for an alternative to dealership repair facilities, PARTS iD is focused on growing and investment in genuine parts, leveraging its proprietary product datasets, execution algorithms and customer service features to provide more convenient ways to browse and purchase manufacturer parts.

“Historically, the OE segment was only accessible to buyers through certified dealerships and retailers. By investing in these parts and offering competitive pricing and fast turnaround, we are solidifying our position as a one-stop-shop for replacement parts and now OE parts,” said Nino Ciappina, CEO of PARTS iD, Inc. “ This is a key milestone as we continue to build an all-inclusive e-commerce store for all automotive customers. By strengthening this category now, we believe we are positioning the company and its shareholders for long-term growth and momentum across the entire automotive aftermarket.

PARTS iD is a one stop shop for custom parts, accessories and now, OE offerings. By increasing its OE inventory and strengthening existing flagship aftermarket categories such as custom exterior accessories and performance parts, the company is well positioned to meet the needs of all automotive buyers.

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 frameworks and unique user experiences in niche markets. Founded in 2008 with a vision to create a one-stop e-commerce destination for the automotive parts and accessories market, PARTS iD has since grown into a proven market leader and brand builder, fueled by its commitment to delivering a great shopping experience. revolutionary ; complete, precise and varied product offerings; and the continued innovation of digital commerce.

Caution Regarding Forward-Looking Statements

All statements made in this press release regarding future financial or business performance, conditions, plans, prospects, trends or strategies and other similar matters, including, without limitation, expected future performance, consumer adoption, anticipated success of our business model, or potential for long-term profitable growth, are forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Additionally, when used in this press release, the words “may”, “could”, “should”, “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “predict” , “potential”, “confident”, “looking forward” and similar expressions and variations thereof, 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 foresee all the risks that could affect us, in particular those associated with the COVID-19 pandemic, which has had widespread effects. and constantly evolving. . We caution that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time, often rapidly and unexpectedly.

Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include risks and uncertainties, including, without limitation: costs of operating as a public company ; difficulties in managing our international business operations, particularly in Ukraine, including enforcing the terms of our agreements with our contractors and managing increased operating costs; the impact of health outbreaks, including the COVID-19 pandemic, on our business and the actions we may take in response; changes in our strategy, future operations, financial condition, estimated revenues and losses, product prices, projected costs, prospects and plans; the outcome of any actual or potential litigation, complaints, product liability claims or regulatory proceedings, and potential negative publicity related thereto; the implementation, market acceptance and success of our business model, expansion plans, opportunities and initiatives, including market acceptance of our planned products and services; competition and our ability to compete, including changes to algorithms from Google and other search engines; developments and projections regarding our competitors and our industry; our expectations regarding our ability to obtain and maintain intellectual property protection and not to infringe the rights of others; ability to maintain and enforce intellectual property rights and ability to maintain technology leadership; our future capital requirements, ability to raise capital and utilize sources of liquidity; our ability to obtain financing for our operations; changes in applicable laws or regulations; the effects of current and future US and foreign trade policy and tariff actions; market disruptions for online purchases of replacement auto parts; supply chain disruptions; and the possibility that we will be affected by other economic, business and/or competitive factors.

Further information about the factors and risks that could cause actual results to differ from forward-looking statements is contained in our filings with the United States Securities and Exchange Commission (SEC), which are available at ‘address https://www.sec.gov (or at https://www.partsidinc.com). Forward-looking statements represent our estimates as of the date hereof only, and we specifically disclaim any duty or obligation to update any forward-looking statements.

Investors:
Brendon Frey
RIC
ir@partsidinc.com

Media
Erin Hadden
PR FishTank
partsid@fischtankpr.com