Car-Part Interchange Plus Uncovers “Unharvested” Value
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Car-Part.com provides software solutions covering an end-to-end auto recycling workflow. We help recyclers buy and sell parts and manage their businesses. The Checkmate product suite includes inventory management, bidding, inventorying, and eBay capabilities. The Car-Part Gold package includes part images, mobile listings, and part listings on Car Part Pro, the premier parts procurement solution for shops and insurers.
One of our most powerful new features is Car-Part Interchange Plus (CPI+). CPI+ provides new and enhanced interchange for 100 parts including engine parts, interior parts, and body parts. It also includes new interchange coverage for Mitsubishi (2009 and up) and Mazda (2015 and up).
To create CPI+, we looked at marketplace data to determine which parts buyers were searching for. Many of the parts didn’t have interchange, which makes it difficult for people to source and buy parts. The buyer simply has to know too much about parts to ensure they are getting the correct part. That’s what drove us to create CPI+. We believe that it’s critical to the Recycled Original Equipment (ROE) industry.
We identified the most popular (and expensive) parts and wrote interchange for them, to make the biggest impact on your bottom line. For example, on a 2014 Ford F-150 (the most popular vehicle searched on Car-Part.com), CPI+ has 40% more parts with interchange than the industry standard. These parts are already in the vehicles you’re buying – they simply haven’t sold well in the past because there was no interchange for them. CPI+ provides the interchange to help you uncover this “unharvested” value. This leads to significant additional sales opportunities.
We launched CPI+ in 2019. In that first year, the Car-Part.com marketplace quoted over $200 million (US) of in-stock CPI+ parts. Currently, there is less competition for recyclers who inventory parts with CPI+. It’s so new that there aren’t yet enough parts inventoried using CPI+ to fill buyers’ requests.
When buyers searched for CPI+ parts, 40% of those requests resulted in a part “Not in Stock” (NIS) (in either US or Canadian inventories). These NIS requests represent an additional $100 million (US)/year opportunity for auto recyclers!