Motorcar Parts of America has announced the resignation of Timothy Vargo from the company’s board of directors due to required time commitments and responsibilities related to his position as chief executive of Exide Technologies.
Net sales for the fiscal 2019 third quarter increased 20.6 percent to $124.1 million from $102.9 million for the same period a year earlier, predominantly as a result of increases in the company’s rotating electrical business.
Motorcar Parts of America has announced the appointments of automotive aftermarket industry veterans Ron Aparicio as a director – retail sales, and Melonie Pickett as senior account manager.
Net sales for the fiscal 2019 second quarter increased 16 percent to $127.9 million from $110.3 million for the same period a year earlier, predominantly as a result of increases in the company’s rotating electrical business.
The company says record sales are expected for the balance of the fiscal year.
William Hardy succeeds Scott Matrenec, head of business and corporate development for Motorcar Parts of America, who served on an interim basis in this capacity following the acquisition of D&V Electronics in July 2017.
The position of vice president of new products will be dedicated to the company’s braking-related product line expansion.
“We believe our company has reached its next inflection point, and we are excited by the opportunities and our leadership position within the $125 billion automotive aftermarket – including the unique opportunities for both our diagnostics and hard parts product lines,” said CEO Selwyn Joffe.
Motorcar Parts of America now believes revenues for its fiscal 2018 ending March 31 should be between $434 million and $440 million, with sales momentum improving in the current fiscal fourth quarter.
“We are gratified to be recognized for our dedication to excellent service, commitment to quality, successful marketing campaigns and unparalleled partnership – all of which are fundamental commitments throughout our company and distinguish MPAA as an industry leader,” said Selwyn Joffe, chairman, president and CEO.
The 2017 Vendor of the Year award recognizes a dedication to excellent service, commitment to quality, highly successful marketing campaigns and unparalleled partnership with Advance.
“We look forward to supporting D&V Electronics to enhance its significant research and development capabilities and expand its market position and product portfolio to capitalize on future growth opportunities,” said Selwyn Joffe, chairman, president and CEO of Motorcar Parts of America Inc.