Auto Care Week Names CarParts.com the Top Company For Year-Over-Year Net Sales Growth in Q3 2020

Rhea-AI Summary

CarParts.com (NASDAQ: PRTS) has been recognized by Auto Care Week as the Top Company for Year-over-Year Net Sales Growth in Q3 2020. The company achieved a remarkable 69.5% increase in net sales compared to Q3 2019, outperforming competitors like O’Reilly Auto Parts and AutoZone. This achievement follows an earlier recognition from SimilarWeb as the Fastest-Growing Auto Parts Site of 2020. CarParts.com attributes its success to a customer-centric approach, technological investments, and supply chain enhancements.

Positive

• 69.5% YoY net sales growth in Q3 2020.
• Outperformed major competitors in the automotive parts sector.
• Recognized as the Fastest-Growing Auto Parts Site of 2020.

Negative

• None.

Auto Care Week, a leading independent news source covering the automotive aftermarket, has named CarParts.com, Inc. (NASDAQ: PRTS) ("CarParts.com") the Top Company for YoY Net Sales Growth in Q3 2020, further demonstrating the company’s success in quickly becoming drivers’ top choice for finding and buying the right parts needed to get their vehicles back on the road.

(Photo: Business Wire)

CarParts.com’s Q3 2020 Net Sales increased 69.5% compared to Q3 2019, according to Auto Care Week, also long-known through the industry as The Greensheet. This growth rate was more than 16% higher than its closest competitor. Outperforming both pure play ecommerce companies and brick-and-mortar retailers with online shopping platforms, CarParts.com’s YoY net sales growth topped consumer brands including O’Reilly Auto Parts (NASDAQ: ORLY), AutoZone (NYSE: AZO), Advance Auto Parts (NYSE: AAP), and NAPA owner Genuine Parts Company (NYSE: GPC).

Read more about Auto Care Week’s findings here: https://www.autocareweek.com/wp-content/uploads/2021/01/Greensheet_Q3_2020_Chart.pdf

This success follows the recent announcement from website analytics firm SimilarWeb, naming CarParts.com the Fastest-Growing Auto Parts Site of 2020. Combined, these distinctions demonstrate the success of CarParts.com’s customer-first approach to business operations and marketing, significant investments in technology, and supply chain improvements that transformed the way consumers shop for auto parts.

“The ultimate achievement is when you not only increase website traffic, but also see those improvements translate to real sales volume,” said Houman Akhavan, Chief Marketing Officer of CarParts.com. “It is evidence that our transformative approach is working. We are committed to listening to drivers, understanding their needs and desires, and doing everything we can to help them find the right parts, at the right price, and deliver them right away. When we do that effectively, we’re winning over and will continue to win over a fiercely loyal customer base.”

For more information about CarParts.com, visit CarParts.com.

About CarParts.com

With over 25 years of experience, and more than 50 million parts delivered, we’ve streamlined our website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, we’ve created an easy-to-use, mobile-friendly shopping experience that, alongside our own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.

CarParts.com is headquartered in Torrance, California.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005629/en/

FAQ

What was CarParts.com's YoY net sales growth in Q3 2020?

CarParts.com achieved a 69.5% YoY net sales growth in Q3 2020.

Which company was named the top for net sales growth in Q3 2020?

CarParts.com was named the Top Company for YoY Net Sales Growth by Auto Care Week in Q3 2020.

How did CarParts.com perform compared to its competitors?

CarParts.com outperformed competitors like O’Reilly Auto Parts and AutoZone in net sales growth.

What recognition did CarParts.com receive from SimilarWeb?

CarParts.com was recognized as the Fastest-Growing Auto Parts Site of 2020 by SimilarWeb.

What factors contributed to CarParts.com's sales growth?

Sales growth was attributed to a customer-first approach, technology investments, and supply chain improvements.