Motorcar Parts of America Recognized for Outstanding Service by Parts Warehouse and Associate Stores; Receives Recognition as one of the Most Trustworthy Companies in Recently Published National Survey

--Sets Date for Fiscal 2023 Year-End Results--

LOS ANGELES--(BUSINESS WIRE)--Motorcar Parts of America Inc. (Nasdaq: MPAA) today announced it has received the 2022 award for Outstanding Corporate Logistics Support from Parts Warehouse, a member of The Aftermarket Auto Parts Alliance, Inc., and Associate Stores at the organization’s 2023 Sales Conference & Vendor Expo recently held in Birmingham, Alabama.

Separately, the company highlighted the recognition it received as one of the Most Trustworthy Companies in America based on a PwC consulting firm survey and evaluations submitted by U.S. customers, employees, and investors from a pool of 3,100 U.S. companies – resulting in the publication by Newsweek of the top-ranking seven hundred companies in twenty-three industries. Motorcar Parts of America achieved a ranking of ten out of twenty-one companies in the Automotive & Components category.

“These prestigious awards highlight the company’s industry leadership and our team’s fundamental commitment to excellence, integrity and customer service,” said Selwyn Joffe, chairman, president, and chief executive officer.

“Customer support is a daily point of focus throughout our company, and we are gratified to be recognized by this leading warehouse distributor for our team’s commitment and contributions. We look forward to continued success and additional opportunities to support PWI,” said Rick Mochulsky, senior vice president sales and marketing for Motorcar Parts of America.

The company also said it expects to report its 2023 fiscal year-end results on June 13, 2023, with a formal announcement, including conference call details, expected to be issued the prior week.

About Motorcar Parts of America, Inc.

Motorcar Parts of America, Inc. is a remanufacturer, manufacturer, and distributor of automotive aftermarket parts -- including alternators, starters, wheel bearings and hub assemblies, brake calipers, brake pads, brake rotors, brake master cylinders, brake power boosters, turbochargers, and diagnostic testing equipment utilized in imported and domestic passenger vehicles, light trucks, and heavy-duty applications. Its products are sold to automotive retail outlets and the professional repair market throughout the United States, Canada, and Mexico, with facilities located in California, New York, Mexico, Malaysia, China and India, and administrative offices located in California, Tennessee, Mexico, Singapore, Malaysia, and Canada. In addition, the company’s electrical vehicle subsidiary designs and manufactures testing solutions for performance, endurance, and production of multiple components in the electric power train – providing simulation, emulation, and production applications for the electrification of both automotive and aerospace industries, including electric vehicle charging systems. Additional information is available at www.motorcarparts.com.

Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained in this press release that are not historical facts are forward-looking statements based on the company’s current expectations and beliefs concerning future developments and their potential effects on the company. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the control of the company) and are subject to change based upon various factors. Reference is also made to the Risk Factors set forth in the company’s Form 10-K Annual Report filed with the Securities and Exchange Commission (SEC) in June 2022 and in its Forms 10-Q filed with the SEC for additional risks and uncertainties facing the company. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.