Car Monkeys Group (CKMY) Continues Growth as one of the Country’s Largest Online Automobile Parts Distributors

Car Monkeys Group owns and operates one of the country’s largest and fastest growing online automobile parts distributors. With a complete selection of used parts for a wide range of vehicle makes and models, the company, through CarMonkeys.com, prides itself on offering the best prices and warranties in the business. Car Monkeys has an inventory in the hundreds of thousands including parts for nearly all commercial vehicles.

Headquartered in Wyckoff, New Jersey, Car Monkeys has an extensive network of warehouses and auto dismantling centers around the country, which allows the company to ship parts directly to customers faster than its competitors.

According to reports from the Automotive Recyclers Association, automotive recyclers, such as Car Monkeys, can normally locate necessary parts much more quickly than new parts dealers, while simultaneously helping keep insurance rates lower and roads clear of abandoned and disabled vehicles. In addition to the environmental benefits of advantaging used parts, the company is also able to provide customers with steep discounts when compared to the costs of equivalent new parts.

Car Monkeys ensures consistent customer satisfaction by providing extensive warranties and customer service to its growing consumer base. With over 800,000 parts and accessories available for different vehicles, the company’s approach has led to impressive growth since its founding in 2010. As an online retailer, Car Monkeys leverages a significant competitive advantage over traditional parts retailers through reduced inventory costs. The company’s website primarily targets sales in categories including engine assemblies, transmissions, rear ends and transfer cases.

The National Highway Traffic Safety Administration reported that U.S. motor vehicle crashes for a single year could cost as much as $1 trillion in loss of productivity and property damage, and, on average, private insurers pay approximately 50 percent of all costs associated with vehicle accidents. Ultimately, nearly three-quarters of all crash costs are paid for by individuals not directly involved in the accident through increased insurance premiums, taxes and travel delays.

Totaled vehicles, in particular, account for massive costs to insurance companies and, therefore, drivers. Car Monkeys, by purchasing damaged cars and recycling salvageable parts, helps insurance companies minimize expenditures and keep premiums at lower levels.

In 2014, Car Monkeys increased advertising efforts by 125% and increased gross transaction totals by 58% from the previous year. The company expects continued growth in the coming years as increased brand awareness and advertising efforts come to fruition. The company plans to use its net income and future investment capital in order to increase search engine key word advertising and drive revenue growth for the foreseeable future.

As consumers increasingly look for more affordable, convenient solutions to automobile repair and online purchasing numbers continue to skyrocket, Car Monkeys appears to be primed for big growth in the years to come.

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