QualityStocks would like to highlight
Car Monkeys Group (
OTC: CKMY). The company, via CarMonkeys.com, is one of the largest and fastest growing online cars, vans and SUV parts distributors in the United States. Founded in 2010, the Wyckoff, New Jersey-based company formerly was known as Delaine Corporation and changed its name to Car Monkeys Group in February 2015.
In the company’s news:
Since the launch of their online store under the Car Monkeys brand name in 2013, Car Monkeys Group has subsequently leveraged their proprietary search and procurement technology (to which the company has sole and exclusive license) to become a leading U.S. supplier of quality used car, van, and SUV parts. The ability to exploit a just-in-time inventory system that reaches out across a network of distributors and auto dismantling centers, to make available to customers a menu consisting of hundreds of thousands of parts, has given the company a significant advantage over traditional retailers who must incur the costs of maintaining a comparable inventory. The trend towards shopping online is a key growth driver for CKMY as well, because it makes acquiring parts a breeze, whether the customer is a mechanic or an individual consumer, and consumers in particular, who are often new to the practice of acquiring auto parts or who are automotive novices, tend to really enjoy the no pressure environment of interacting with a website.
Furthermore, this virtualized online architecture allows Car Monkeys to coordinate a recycled automotive parts business, sourcing ready-to-ship low-mileage parts that have been run and tested, which can entice consumers into the model via benefits like zero shipping cost, a generous 30-day no hassle return policy, and a 5-year unlimited mileage warranty on all used parts that is unheard of in the industry today. Car Monkeys’ approach is quite shrewd, taking advantage of an underserved market by supporting the ever-growing volume of used cars on the road today, which have not really been targeted by any major players as a growth market, including dealerships. The majority of the company’s business thus far has been focused squarely on used engines, transmissions and rear axle assemblies, where CKMY has spent the majority of keyword advertising dollars and where the company can most effectively grow their business model.
By purchasing keyword advertising in this core niche of parts, while also continually growing their supplier network, Car Monkeys is quickly becoming a profitable conduit, servicing a largely underdeveloped market full of eager customers. Given that NADA (National Automobile Dealers Association) data from 2014 indicates that sales of used vehicles were nearly triple that of new vehicles, at over 42 million sold in the aggregate, the size of this market is considerable. Consumers can also feel good about their purchase and how they are getting more life out of older vehicles through reusing parts, helping to reduce the overall environmental impact, making CKMY’s venue a solid alternative for pollution conscious consumers who cannot afford to step into an expensive new hybrid or EV.
With competitively low prices on parts and the capacity to offer parts across a wide range of vehicle makes and models, Car Monkeys is quickly becoming the Amazon.com of high-quality used auto parts, providing consumers and auto mechanics with a hassle-free shopping experience and an easy-to-use website interface that allows them to find the exact part that they need. By inputting the vehicle’s engine type, make, model and the year that it was produced, customers can instantly access a listing of parts and accessories that correspond to their specific vehicle. And because the Car Monkeys website also offers the option to shop by year and part category, it’s also very easy to simply browse through the entire array of available parts for a given type.
With tidy revenues of just under $350k for the six months ended December 31, 2014, up 17.3% from the same period in 2013, on gross transactions of just over $1.2 million, CKMY is moving along at a good clip, weighed down from a growth standpoint only by advertising expenditures, supplier payments, and increasingly affordable shipping costs. Over this same period, CKMY managed to grow gross transactions by 58%, clearly indicating the health of their business model and the company has redoubled their efforts by increasing their keyword search engine advertising budget proportionally.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
