STOCK TITAN

CarParts.com Expands Assortment in Automotive Market with SimpleTire Partnership

Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership

CarParts.com (NASDAQ: PRTS) announces a strategic partnership with SimpleTire to expand into the tire market. The collaboration adds over 300 tire brands and access to 55 million tires from major manufacturers like Pirelli, Yokohama, Continental, Hankook, and Nexen. The partnership leverages SimpleTire's network of 10,000 installers and includes features like fast, free shipping on most orders and a 30-day return policy for unmounted tires. This expansion aims to enhance CarParts.com's one-stop-shop experience for vehicle owners across North America.

CarParts.com (NASDAQ: PRTS) annuncia una partnership strategica con SimpleTire per espandersi nel mercato degli pneumatici. Questa collaborazione aggiunge oltre 300 marche di pneumatici e l'accesso a 55 milioni di pneumatici dei grandi produttori come Pirelli, Yokohama, Continental, Hankook e Nexen. La partnership sfrutta la rete di 10.000 installatori di SimpleTire e include vantaggi come la spedizione veloce e gratuita sulla maggior parte degli ordini e una politica di reso di 30 giorni per gli pneumatici non montati. Questa espansione mira a migliorare l'esperienza di acquisto completa di CarParts.com per i proprietari di veicoli in Nord America.

CarParts.com (NASDAQ: PRTS) anuncia una asociación estratégica con SimpleTire para expandirse en el mercado de neumáticos. La colaboración agrega más de 300 marcas de neumáticos y acceso a 55 millones de neumáticos de fabricantes como Pirelli, Yokohama, Continental, Hankook y Nexen. La asociación aprovecha la red de 10,000 instaladores de SimpleTire e incluye características como envío rápido y gratuito en la mayoría de los pedidos y una política de devolución de 30 días para neumáticos no montados. Esta expansión tiene como objetivo mejorar la experiencia de compra integral de CarParts.com para los propietarios de vehículos en América del Norte.

CarParts.com (NASDAQ: PRTS)SimpleTire와의 전략적 파트너십을 발표하여 타이어 시장으로 확장합니다. 이 협력은 300개 이상의 타이어 브랜드와 Pirelli, Yokohama, Continental, Hankook, Nexen과 같은 주요 제조업체의 5천5백만 개 타이어에 대한 접근을 추가합니다. 파트너십은 SimpleTire의 10,000명의 설치자 네트워크를 활용하며, 대부분의 주문에 대해 빠르고 무료 배송과 미장착 타이어를 위한 30일 반품 정책과 같은 기능을 포함합니다. 이번 확장은 북미의 차량 소유자를 위한 CarParts.com의 원스톱 샵 경험을 향상시키는 것을 목표로 하고 있습니다.

CarParts.com (NASDAQ: PRTS) annonce un partenariat stratégique avec SimpleTire pour s'étendre sur le marché des pneus. Cette collaboration ajoute plus de 300 marques de pneus et donne accès à 55 millions de pneus de grands fabricants tels que Pirelli, Yokohama, Continental, Hankook et Nexen. Le partenariat exploite le réseau de 10 000 installateurs de SimpleTire et inclut des caractéristiques telles que la livraison rapide et gratuite sur la plupart des commandes ainsi qu'une politique de retour de 30 jours pour les pneus non montés. Cette expansion vise à améliorer l'expérience d'achat unique de CarParts.com pour les propriétaires de véhicules en Amérique du Nord.

CarParts.com (NASDAQ: PRTS) gibt eine strategische Partnerschaft mit SimpleTire bekannt, um in den Reifenmarkt zu expandieren. Die Zusammenarbeit fügt über 300 Reifenmarken hinzu und bietet Zugriff auf 55 Millionen Reifen von großen Herstellern wie Pirelli, Yokohama, Continental, Hankook und Nexen. Die Partnerschaft nutzt das Netzwerk von 10.000 Installateuren von SimpleTire und beinhaltet Vorteile wie schnellen, kostenlosen Versand für die meisten Bestellungen sowie eine 30-tägige Rückgaberechtsregelung für unmontierte Reifen. Diese Expansion zielt darauf ab, das Einkaufserlebnis von CarParts.com für Fahrzeugbesitzer in Nordamerika zu verbessern.

Positive
  • Major expansion into tire market with access to 55 million tires
  • Partnership with SimpleTire adds 300+ tire brands to product offering
  • Access to network of 10,000 tire installers
  • Free shipping offered on most orders
Negative
  • None.

Insights

The partnership with SimpleTire marks a significant strategic expansion for CarParts.com into the lucrative $45 billion U.S. tire market. Adding 55 million tires across 300 brands through SimpleTire's established distribution network of 10,000 installers provides immediate scale without significant capital investment. This asset-light approach to market expansion is particularly shrewd given PRTS's current market cap of $54.7 million.

The deal addresses a critical gap in CarParts.com's product offering while leveraging existing customer relationships and digital infrastructure. The tire segment typically generates higher average order values and repeat purchase rates compared to traditional auto parts. Integration with SimpleTire's logistics network should enable rapid market penetration while maintaining healthy margins through a marketplace model.

This partnership represents a textbook example of platform expansion through strategic collaboration. The integration adds substantial value to CarParts.com's digital ecosystem by introducing a high-demand category without the overhead of inventory management. The addition of SimpleTire's installer network creates a complete digital-to-physical fulfillment solution that enhances customer stickiness and lifetime value.

The seamless integration of tire shopping tools and installer scheduling addresses key friction points in the traditional tire buying process. This positions CarParts.com to capture market share from both traditional tire retailers and other online competitors, potentially driving significant growth in transaction volume and customer acquisition.

New Collaboration Adds Over 300 Tire Brands, Broadening Customer Options

TORRANCE, Calif., Nov. 20, 2024 /PRNewswire/ -- CarParts.com, Inc. (NASDAQ: PRTS) ("CarParts.com"), a leading eCommerce provider of automotive parts and accessories, is excited to announce its expansion into the tire market through a new partnership with SimpleTire. This launch introduces a robust selection of tire brands to CarParts.com, further enhancing its one-stop-shop experience for vehicle owners across North America.

SimpleTire, one of the largest tire distributors in the country, offers a large catalog of 55 million tires from over 300 top brands, including trusted names like Pirelli, Yokohama, Continental, Hankook and Nexen. This diverse range ensures customers can find the right tires for a wide selection of vehicles, sizes, and performance needs, all at competitive prices.

CarParts.com's platform, combined with SimpleTire's network of 10,000 installers, makes tire shopping simple and efficient. Customers can search by vehicle type, tire size, or performance category to quickly find the perfect fit. Additionally, SimpleTire's fast, free shipping on most orders (excluding oversized models) and a 30-day return policy for unmounted tires ensure a seamless experience from purchase to potential return.

"This partnership with SimpleTire represents a milestone in our ongoing mission to provide customers with a comprehensive, hassle-free automotive shopping experience," said David Meniane, Chief Executive Officer of CarParts.com. "With SimpleTire's vast selection and trusted reputation, we're empowering our customers to confidently maintain their vehicles with the right tires, all while reinforcing our role as the ultimate resource for all things auto care."

Rich Zapf, SVP of Product Experience of SimpleTire, shared his excitement about the partnership saying, "CarParts.com has long been a trusted name in the automotive industry, and we're thrilled to bring our extensive tire selection to their customers. By teaming up, we can now offer even greater convenience and a broader range of high-quality tires to a nationwide audience."

The expansion into the tire market underscores CarParts.com's commitment to evolving alongside its customers' diverse needs. By partnering with SimpleTire, the company is reinforcing its commitment to delivering convenience, quality, and value to its customers – further positioning itself as a leader in the automotive space.

About CarParts.com, Inc.
CarParts.com, Inc. is a technology-driven eCommerce company offering over 1 million high-quality automotive parts and accessories. Operating for over 25 years, CarParts.com has established itself as a premier destination for drivers seeking repair and maintenance solutions. Our commitment lies in placing the customer at the forefront of our operations, evident in our easy-to-use, mobile-friendly website and app. With a commitment to affordability and customer satisfaction, CarParts.com simplifies the automotive repair process, aiming to eliminate the uncertainty and stress often associated with vehicle maintenance. Backed by a robust company-operated fulfillment network, we ensure swift delivery of top-quality parts from leading brands to customers across the nation. At CarParts.com, our global team is united by a shared vision: Empowering Drivers Along Their Journey.

CarParts.com is headquartered in Torrance, California.

Investor Relations:
Ryan Lockwood
IR@carparts.com 

Media Relations:
Tina Mirfarsi
tina@carparts.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/carpartscom-expands-assortment-in-automotive-market-with-simpletire-partnership-302310581.html

SOURCE CarParts.com, Inc.

FAQ

What brands are available through CarParts.com's (PRTS) SimpleTire partnership?

The partnership includes over 300 top tire brands, including Pirelli, Yokohama, Continental, Hankook, and Nexen.

How many tire installers does CarParts.com (PRTS) have access to through SimpleTire?

Through the SimpleTire partnership, CarParts.com has access to a network of 10,000 installers.

What is CarParts.com's (PRTS) return policy for tires?

CarParts.com offers a 30-day return policy for unmounted tires through its SimpleTire partnership.

How many tires are available through CarParts.com's (PRTS) new SimpleTire partnership?

The partnership provides access to 55 million tires from over 300 brands.

CarParts.com, Inc.

NASDAQ:PRTS

PRTS Rankings

PRTS Latest News

PRTS Stock Data

49.32M
53.84M
6.13%
41.63%
1.42%
Auto Parts
Retail-auto & Home Supply Stores
Link
United States of America
TORRANCE