Company 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”), the owner and operator of, among other verticals, “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 reporting 350% OE business growth in H1 2021 compared to H1 2020.
In 2020, the Company invested heavily into OE product cultivation, onboarding nearly 34 major manufacturer brands including Dodge, Jeep, Hyundai and Lexus. Following this successful expansion, PARTS iD now lists approximately two million OE SKUs, greatly broadening its product selection to provide customers with a diverse range of both aftermarket and OE parts all in one e-commerce platform.
Original equipment parts remain the dominant segment of the aftermarket auto parts industry, with Grandview reporting OE parts claiming a 72.9% market share in 2020. These factory-identical parts offer customers quality assurance and greater breadth of options. As it looks to increase its market share across a broad range of customers including enthusiasts, DIY owners, and those seeking an alternative to dealer repair facilities, PARTS iD is focusing on growth and investment into OE parts, leveraging its proprietary product data sets, fulfilment algorithms and customer service features to offer more convenient ways to browse and purchase manufacturer parts.
“Historically, the OE segment has only been accessible to shoppers through dealerships and certified retailers. By investing in these parts and offering competitive pricing and quick fulfillment, we’re cementing our position as a one-stop-shop for both aftermarket and now OE Parts,” said Nino Ciappina, Chief Executive Officer 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 bolstering this category now, we believe we’re positioning the Company and its shareholders for long-term growth and momentum across the entire vehicle aftermarket business.”
PARTS iD is a one-stop-shop for custom parts, accessories and now, OE offerings. By growing its OE inventory and bolstering existing flagship aftermarket categories such as custom exterior accessories and performance parts, the Company is well-positioned to meet the needs of all automotive shoppers.
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 eCommerce destination for the automotive parts and accessories market, PARTS iD has since become 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.
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