CAMBRIDGE, Massachusetts – Openbay announced that it has partnered with eBay Motors to enable repair shops to browse a selection of millions of automotive parts and accessories in its online marketplace.
Powered by eBay Motors, repair shops can research, source and acquire automotive parts directly through the Openbay dashboard.
Openbay’s selection includes genuine OEM parts, white-label parts, national brand aftermarket parts, remanufactured and used parts as well as hard-to-find parts that are no longer manufactured, according to the company.
“By collaborating with Openbay, we are making it extremely easy for automotive repair businesses to get their hands on the parts they need, when they need them,” said Jordan Hettinga, director of category management at eBay Motors. “With millions of items available on eBay – everything from OEM to hard-to-find parts – we’re arming the Openbay community with the access to this inventory. With our wide spectrum of value, we’re hoping to save customers time [and]money, all while improving their profitability.”
The Openbay marketplace “aims to exceed the modern consumer’s expectations when servicing their vehicle,” the company noted.
The majority of Openbay registered users operate out-of-warranty vehicles or vehicles that are beyond the 11-plus-year average age vehicle on U.S. roads, according to the company.
“There are several large trends impacting the automotive aftermarket industry and companies that serve the automotive parts supply chain,” said Rob Infantino, founder and CEO of Openbay. “The largest population in U.S. history is now of driving age [millennials]and buying older vehicles as their first car. Acquisition of online services is at an all-time high. More than 60 million vehicles older than 16 years in age are in operation on U.S. roads that will require more repair and service when compared to later model vehicles.
“These trends translate to a large and growing opportunity to service a unique customer segment. Openbay and eBay Motors are helping improve the customer experience when getting a vehicle serviced and helping increase efficiency and profitability for automotive care businesses.”
In an Openbay survey of more than 180 independent automotive care businesses, participants showed a willingness to change parts suppliers to increase profitability through competitive parts pricing and to improve operational efficiency, according to Openbay.
More than 77 percent of respondents with service revenue exceeding $1 million said they’re “moderately to extremely likely” to switch away from their current auto parts supplier, according to Openbay. The percentage of businesses willing to switch suppliers increased to 89 percent for those businesses with service revenue under $1 million.
“The survey results provide valuable insight and opportunity for Internet retailers with a broad parts catalog to expand its sales beyond the DIY market and into the DIFM market, which is currently valued at more than $380 billion,” the company said, citing data from the Auto Care Association.