CARSON, Calif. – AutoMD Inc., previously a wholly owned subsidiary of U.S. Auto Parts Network, has announced that Federal-Mogul Motorparts, a division of Federal-Mogul Holdings Corp., Cox Automotive Inc. and existing investors in U.S. Auto Parts have purchased a minority stake in AutoMD. In connection with the investment, Federal-Mogul also will provide strategic support in accelerating the growth of AutoMD.com.
AutoMD.com was created to serve as an unbiased free online automotive repair resource designed to empower vehicle owners with the best way to repair their vehicles. The website helps to drive growth at participating repair shops by allowing car owners to get instant comparative quotes and information on repair jobs from local repair shops through AutoMD Insta-Quotes.
"AutoMD.com provides transparency for consumers in need of vehicle repair and visibility to the over 1,000 and growing participating repair providers," said Shane Evangelist, CEO of AutoMD and majority owner of U.S. Auto Parts. "This investment and the significant industry expertise of Federal-Mogul Motorparts and Cox Automotive will help further establish AutoMD as the preferred source of vehicle repair information for millions of consumers."
"Cox Automotive’s investment in AutoMD recognizes the importance of healthy and profitable service operations to the retail automotive community," said Dale Pollak, founder of vAuto and executive vice president of Cox Automotive. "This is another step toward helping dealers succeed in every area of their businesses. We’re very impressed with the commitment and leadership of AutoMD."
The Cox Automotive business unit includes more than 20 leading wholesale and retail automotive brands, including AutoTrader.com and Kelley Blue Book.
In addition to AutoMD.com allowing car owners to get instant comparative quotes on repair jobs from local repair shops through AutoMD Insta-Quotes!, the site also allows both car owners and do-it-yourselfers to: 1. Find the right local auto repair shop at the right price for their issue; 2. Know how much auto repairs should cost; 3. Troubleshoot car problems; 4. Have auto repair questions answered by the AutoMD.com community; and 5. Understand the steps needed and the time required for repairs through How-to Auto Repair guides.
AutoMD.com was named Best Automotive Website in the eighth annual American Business Awards, also known as the Stevie Awards.
