Motorcar Parts of America’s Brake-Related Program Continues to Gain Traction; Appoints Industry Veteran to Brakes Team

Rhea-AI Summary

Motorcar Parts of America (Nasdaq:MPAA) announced significant progress in its brake-related product offerings, highlighting its strategic growth initiatives. The company has appointed industry veteran Dan Lelchuk as director of business development for brake products. Lelchuk, who has served as president and CEO of Centric Parts, brings extensive experience in brake-related executive roles. Selwyn Joffe, CEO of MPAA, emphasized the company's strong reputation as a supplier of non-discretionary aftermarket parts and its capacity to meet increasing customer demand. Lelchuk expressed enthusiasm about joining the team and praised the state-of-the-art facilities in Mexico.

Positive

• Motorcar Parts of America is strengthening its strategic growth initiatives for brake-related products.
• Appointment of Dan Lelchuk, an industry veteran, as director of business development for brake products.
• Lelchuk's extensive experience includes roles such as president and CEO of Centric Parts.
• MPAA has a solid reputation as a high-quality supplier of non-discretionary aftermarket parts.
• The company can meet increasing customer demand through its advanced facilities.
• Lelchuk praised the capabilities and scope of the company’s state-of-the-art caliper operation and distribution facility in Mexico.

Negative

• The press release lacks concrete financial data, making it hard to assess the immediate financial impact.
• No specific figures on the growth or market share gains of the brake-related products.
• Does not address any potential risks or challenges in the company's strategic growth initiatives.

LOS ANGELES--(BUSINESS WIRE)-- Motorcar Parts of America, Inc. (Nasdaq:MPAA) today announced continued success in the strategic evolution of the company’s emerging brake-related product offerings.

To further enhance its strategic growth initiatives, the company announced the appointment of Dan Lelchuk as a director of business development for brake products. He will be focused on supporting and enhancing the company’s brake caliper, brake pad and brake rotor product offerings. An industry veteran, Lelchuk’s career includes serving as president, chief executive officer and co-founder of Centric Parts. Earlier in his career, he held a variety of brake-related executive sales and marketing positions for leading global automotive organizations.

“Dan Lelchuk’s background complements the company’s focus and commitment to further accelerating its brake-related product sales momentum. We look forward to benefiting from Dan’s industry knowledge and experience, and to achieving continued success,” said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.

“Our reputation as a high-quality supplier of non-discretionary aftermarket parts, coupled with capacity to meet increasing customer demand, distinguishes our company. We expect to further leverage our industry position and our customer relationships to gain share across multiple product offerings, supported by an industry-leading team and exceptional value-added service,” Joffe added.

“I recently had the opportunity to tour the company’s state-of-the art caliper operation and distribution facility in Mexico. The facilities are amazing in scope and capabilities. Our Quality-Built brake offerings provide a compelling differentiation for customers to provide top-quality brake maintenance and repair parts. I am thrilled to join this exceptional team of professionals,” Lelchuk said.

About Motorcar Parts of America

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.

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 2023 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240606447189/en/

Gary S. Maier

Vice President, Corporate Communications & IR

310-972-5124

Source: Motorcar Parts of America, Inc.

FAQ

What strategic growth initiatives has Motorcar Parts of America announced?

Motorcar Parts of America has announced progress in its brake-related product offerings and the appointment of Dan Lelchuk to enhance its strategic growth initiatives.

Who is Dan Lelchuk, and what role has he taken at Motorcar Parts of America?

Dan Lelchuk, an industry veteran and former president and CEO of Centric Parts, has been appointed as the director of business development for brake products at Motorcar Parts of America.

What is Motorcar Parts of America's reputation in the industry?

Motorcar Parts of America is known as a high-quality supplier of non-discretionary aftermarket parts and has the capacity to meet increasing customer demand.

What specific products will Dan Lelchuk focus on at Motorcar Parts of America?

Dan Lelchuk will focus on the company’s brake caliper, brake pad, and brake rotor product offerings.

What did Dan Lelchuk say about Motorcar Parts of America's facilities?

Dan Lelchuk praised the state-of-the-art caliper operation and distribution facility in Mexico, highlighting their scope and capabilities.