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Motorcar Parts of America Expands Brake-Related Product Offerings with Introduction of Pads and Rotors
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Motorcar Parts of America (Nasdaq: MPAA) has launched a new line of brake pads and rotors under its Quality-Built brand, targeting the professional installer market. This launch is supported by multi-year business commitments exceeding $100 million from various partners and initial inventory for production. The environmentally friendly brake pads feature an exclusive formula and the rotors provide OE-style coverage for passenger vehicles and light trucks. The CEO, Selwyn Joffe, expressed optimism for future growth across the company’s aftermarket product categories.
Positive
Introduction of a new line of brake pads and rotors, targeting a significant professional installer market.
Multi-year commitments exceeding $100 million from various channel partners.
Exclusive distribution rights for the North American market enhance competitive advantage.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
Motorcar Parts of America Inc.(Nasdaq: MPAA) today announcedthe introduction of a comprehensive line of brake pads and rotors, serving the professional installer market under the company’s Quality-Built brand.
The launch of these products coincides with multi-year business commitments and opportunities of more than $100 million from various channel partners, primarily across multiple brake-related products, and initial inventory to support the ramp-up.
The company’s new copper free and environmentally friendly brake-pad line utilizes an industry-leading formulation. Its launch is under an exclusive distribution rights agreement for the North American market. Applications include complete hardware coverage or no hardware for the economy lines.
The company’s brake rotor line offers full-line coverage for passenger vehicles and light trucks, with OE-style and fully coated corrosion protection based on extensive corrosion resistance testing.
“The introduction of brake pads and rotors complements our newly completed brake caliper operations and expansion program in Mexico, as well as our industry reputation for quality, innovation, and customer-centric service. We are encouraged by the initial response to our new product offerings and look forward to further opportunities across the company’s entire line of aftermarket categories,” said Selwyn Joffe, chairman, president and chief executive officer for Motorcar Parts of America.
About Motorcar Parts of America, Inc.
Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.
Forward-Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2021 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.
