Motorcar Parts Stock Price, News & Analysis

Motorcar Parts of America (Nasdaq: MPAA) has appointed Patricia (Tribby) W. Warfield to its board of directors, enhancing board diversity and corporate governance. With 11 directors, 10 are now independent. Warfield brings vast experience from her roles at APC Automotive Technologies and Kaman Corporation, along with significant international exposure during her time at Gates Corporation. Her insight is expected to support the company's growth in automotive aftermarket products amid favorable market conditions.

Motorcar Parts of America (NASDAQ: MPAA) announced a realignment in its sales approach for the Canadian market. Niall Davidson, vice president of sales for Dixie Electric, will now oversee all automotive product lines in Canada. This strategic move aims to improve customer service and support growth initiatives, bolstered by a broader range of non-discretionary products launched since Davidson joined the company in 2019. The company specializes in remanufacturing and distributing aftermarket automotive parts across North America, with a global presence.

Motorcar Parts of America (Nasdaq: MPAA) reported record net sales for the fiscal 2022 second quarter, increasing 13.5% to $175.5 million, with a six-month increase of 29.8% to $324.6 million. However, net income for the first half decreased to $4.5 million from $12.2 million year-over-year, largely due to non-cash foreign exchange impacts. Gross margins fell to 20.5% versus 25.7% last year, impacted by higher COVID-related costs. The company continues to see strong demand for aftermarket parts despite ongoing supply chain challenges.

Motorcar Parts of America (MPAA) announced that its subsidiary, D&V Electronics, will provide a power hardware-in-the-loop inverter test system for NASA’s Dragonfly mission, which plans to explore Saturn’s moon Titan. The Dragonfly mission, part of NASA’s New Frontiers Program, aims to study Titan's environment by obtaining material samples. This partnership with NASA highlights D&V's capabilities in electric vehicle testing and its collaboration with Opal-RT and NI. The Dragonfly mission is scheduled for launch in 2027.

Motorcar Parts of America (MPAA) announced its fiscal 2022 second-quarter results will be revealed on November 9, 2021. CEO Selwyn Joffe and CFO David Lee will hold an investor conference call at 10:00 a.m. Pacific time to discuss financial outcomes and operations. Interested investors can access the call via www.motorcarparts.com or by phone. A playback will be available until November 16, 2021. MPAA specializes in automotive aftermarket parts and has facilities across the US, Canada, Mexico, Malaysia, China, and India.

NI (NASDAQ: NATI) has launched an Inverter Test System and formed a collaboration with D&V Electronics to enhance electric vehicle (EV) testing environments. The new system allows engineers to simulate EV powertrains and conduct hardware-in-the-loop (HIL) tests for traction inverter electronic control units (ECUs), improving testing scenarios. This partnership aims to streamline the testing process, enabling durability and thermal testing at full power safely and effectively, thereby accelerating EV innovation.

Motorcar Parts of America (Nasdaq:MPAA) is set to participate in a fireside chat at the Gabelli Funds 45th Annual Automotive Aftermarket Symposium, scheduled for November 2, 2021, at 10:30 a.m. PT in Las Vegas.

This event coincides with the company’s presence at the Automotive Aftermarket Products Expo that same week. Investors can access the chat via the company’s investor relations section on their website at www.motorcarparts.com.

Motorcar Parts of America (MPAA) was honored with the Vendor of the Year Award for Professional Excellence by Advance Auto Parts at their 2021 Partner Growth Summit. This recognition highlights MPAA's commitment to quality and excellent service across various automotive product categories, including brake-related products. CEO Selwyn Joffe expressed enthusiasm for the company's future and ongoing collaboration with Advance Auto Parts. MPAA operates across the U.S., Canada, and Mexico, manufacturing and distributing a wide range of automotive aftermarket parts.

Motorcar Parts of America (Nasdaq:MPAA) announced a strategic distribution partnership between its subsidiary D&V Electronics and TECTRA a.s., aiming to strengthen its presence in the Czech Republic's testing solutions market. This partnership is expected to leverage D&V's advanced testing equipment for electric vehicles, aligning with the automotive industry's shift towards electrification. Both companies anticipate significant growth opportunities stemming from this collaboration, particularly in the rapidly evolving electric and autonomous vehicle sector.