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    SEMA study reveals industry sales grew $550 million to $52.35 billion in 2023
    Specialty Equipment Market Association (SEMA), a US-based trade organization for the automotive aftermarket industry, announced the launch of its 2024 Market Report, revealing that overall industry sales grew $550 million to $52.35 billion in 2023, according to a press release dated Aug. 29. The study further revealed that the light-truck sector continues to drive the specialty-equipment market, accounting for 59% of accessory and performance parts sales. It said sales were strong in all...
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    Blink Charging reports slight revenue increase in Q2 2024
    Blink Charging Co., a US-based electric vehicle charging equipment and services provider, reported its financial outcomes for the second quarter and six-month period ended June 30, 2024, according to a press release dated Aug. 7. The company saw a slight increase in total revenue to $33.3 million from $32.8 million in the same period the previous year and a 30% growth in year-to-date total revenue to $70.8 million. While there was a minor decrease in product revenue from $24.6 million to $23....
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    Advance Auto Parts says Q2 2024 net sales at $2.7 billion, flat YOY
    Advance Auto Parts, Inc., an automotive aftermarket parts provider in North America, announced its financial results for the first quarter ended July 13, according to a press release dated Aug 22. Second-quarter 2024 net sales totaled $2.7 billion, which was flat compared with the second quarter of the prior year. Comparable store sales increased 0.4%. The company's operating income was $71.8 million, or 2.7% of net sales compared with 4.7% in the second quarter of 2023. However, there was...
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    Boyd Group reports mixed Q2 results amid industry challenges
    North America-based collision repair centers operator Boyd Group Services Inc. has announced its results for the second quarter ended June 30, 2024, saying that sales increased by 3.4% to $779.2 million from $753.2 million in the same period of 2023, with same-store sales declining 3.2%, according to a press release dated Aug. 8. Net earnings decreased to $10.8 million, compared with $26.3 million in the same period of 2023 and net earnings per share decreased to $0.50, compared with $...
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    Holley Performance Brands says Q2 2024 sales at $169.5 million, down 3.3% YOY
    Holley Performance Brands, a US-based company involved in automotive aftermarket performance solutions, has announced financial results for its second quarter ended June 30, 2024, reporting a net sales decrease by 3.3% year on year to $169.5 million, according to a press release dated Aug. 7. There was, however, an improvement in net income, which rose from $13.0 million, or $0.11 per diluted share, to $17.1 million, or $0.14 per diluted share. Despite the increase in net income, the compa...
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    XPEL says second-quarter 2024 sales at $109.9 million, up 7.5%
    XPEL, Inc., a global provider of protective films and coatings, announced its financial results for the second quarter of 2024, revealing a 7.5% increase in revenue to $109.9 million, according to a press release dated Aug. 8. The company reported a gross margin of 43.5%, with a net income of $15.0 million, or $0.54 per share, which denotes a slight decrease from the $15.7 million, or $0.57 per share, reported in the same quarter of the previous year. EBITDA (earnings before interest, taxes, ...
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    Motorcar Parts of America Q1 2024 sales at $169.9 million, up 6.4% YOY
    Motorcar Parts of America (MPA), a US-based remanufacturer, manufacturer and distributor of automotive aftermarket parts, has reported an increase in net sales by 6.4%, reaching $169.9 million, and a gross profit increase of 9.8% to $29.2 million for the fiscal 2025 first-quarter ended June 30, 2024, according to a press release dated Aug. 8. Despite this growth, the company faced an unfavorable noncash $11.1 million foreign exchange loss, affecting its operating results. However, through cos...
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    Dorman Products says Q2 2024 sales at $503.0 million, up 4.7% YOY
    Dorman Products (Dorman), a US-based aftermarket supplier of original equipment (OE) dealer-exclusive parts, has reported its financial results for the second quarter ended June 29, 2024, revealing an uplift in financial performance compared to the previous year, according to a press release dated Aug. 1. The company announced net sales of $503.0 million, marking a 4.7% increase from the $480.6 million recorded in the second quarter of 2023. This growth was primarily attributed to the Li...
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    CarParts.com reports downturn in Q2 financial performance
    CarParts.com Inc., a US-based eCommerce provider of automotive parts and accessories, has reported results for the second quarter ended June 29, 2024, in a press release dated July 30.  The company reported a decrease in net sales by 18% to $144.3 million. Its gross profit stood at $48.4 million against $60.4 million. Notably, the period saw a substantial net loss of $8.7 million, or $0.15 per share, a significant drop from the previous year's net loss of $0.7 million, or $0.01...
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    Genuine Parts Co. says Q2 sales up 0.8% YOY at $6.0 billion
    Genuine Parts Co. (GPC), a US-based distributor of automotive and industrial replacement parts, has announced its financial results for the second quarter of 2024, ending June 30, according to a press release dated July 23. The company reported sales of $6.0 billion, marking a slight increase of 0.8% compared to the same period in the previous year. This rise in sales is attributed to a 2.2% benefit from acquisitions, despite a 0.9% decline in comparable sales and a 0.5% adverse impact from f...
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    Motorcar Parts of America says FY 2024 sales at $717.7 million, up 5.1% YOY
    Motorcar Parts of America Inc. reported financial results for its fiscal 2024 fourth quarter and year ended March 31, 2024, revealing year-over-year increases in sales, operating income and cash flow from operating activities, according to a press release dated June 11. The company's net sales for fiscal 2024 increased 5.1% to $717.7 million, gross profit increased 16.3% to $132.6 million, and operating income increased 26.5% to $46.1 million. The company generated approximately $39.2 million...
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    Advance Auto Parts says Q1 2024 net sales at $3.4 billion, down 0.3% YOY
    Advance Auto Parts, Inc., an automotive aftermarket parts provider in North America, announced its financial results for the first quarter ended April 20, according to a press release dated May 29. First-quarter 2024 results showed a 0.3% decrease in net sales totaling $3.4 billion, compared to the same period in the previous year. Comparable store sales also decreased by 0.2%. Gross profit decreased by 2.2% to $1.4 billion, primarily due to increased costs that couldn't be entirely covered b...
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    UK-based GSF Car Parts reports 30% growth in exhaust system sales
    GSF Car Parts, a UK-based supplier of car parts to the independent aftermarket, announced a significant increase in its exhaust system sales, with a year-to-date sales increase of over 30% compared to 2023, according to a press release dated May 28 by the UK aftermarket industry body, the Independent Automotive Aftermarket Federation (IAAF). The company credits this growth to its A2A brand, which is manufactured exclusively by a leading original equipment manufacturer OES provider and is know...
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    US parts retailer AutoZone says Q3 2024 sales at $4.2 billion, up 3.5% YOY
    US-based retailer and distributor of aftermarket automotive parts and accessories, AutoZone, has reported net sales of $4.2 billion for its third quarter ended May 4, 2024, an increase of 3.5% from the third quarter of fiscal 2023, according to a press release dated May 21. For the quarter, net income stood at $651.7 million compared with $647.7 million in the same period last year, while diluted earnings per share increased 7.5% to $36.69. Commenting on the results, “I want to thank and...
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    Holley Performance Brands reports Q1 2024 sales at $158.6 million, down 7.9% YOY
    Holley Performance Brands, a US-based automotive aftermarket performance solutions company, has announced financial results for its first quarter ended March 31, 2024, according to a press release dated May 8. The company’s net sales decreased 7.9% to $158.6 million compared to $172.2 million last year. Its net income was $3.7 million. Adjusted EBITDA was $30.7 million compared to $33.9 million last year. "The organizational transformation at Holley is well underway. In the first few m...
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    Valvoline reports Q2 2024 financial results
    Valvoline Inc. declared its financial results for the second quarter of the 2024 fiscal year, ending March 31, 2024. Compared to the same period in the previous year, net revenue grew 13% to approximately $389 million while its adjusted EBITDA grew 21% year over year to approximately $105 million, with system-wide store sales growing 13% to $746 million. Its adjusted earnings per diluted share increased by 74% to $0.33 while 14 franchised and 24 company-operated new stores were added in ...
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    Dorman Products says Q1 2024 net sales at $468.7 million, up 0.4% YOY
    Dorman Products Inc., a US-based supplier in the motor vehicle aftermarket industry, has announced that in the first quarter ended March 30, 2024, net sales stood at $468.7 million, up slightly compared to net sales of $466.7 million in the first quarter of 2023, according to a press release dated May 7.  Gross profit was $181.4 million in the first quarter of 2024, or 38.7% of net sales, compared to $144.5 million, or 31.0% of net sales, for the same quarter last year. Commenting on ...
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    Automotive coatings firm Xpel says Q1 2024 revenue $90.1 million, up 5% YOY
    Xpel Inc., a US-based provider of protective films and coatings, announced its consolidated results for the first quarter and year ended March 31, 2024, according to a press release dated May 2. The company said its revenue increased 5.0% to $90.1 million compared to the first quarter of 2023. Net income decreased 41.7% to $6.7 million, or $0.24 per basic and diluted share, versus net income of $11.4 million, or $0.41 per basic and diluted share in the first quarter of 2023. These results inc...
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    Automotive retailer Lithia & Driveway says Q1 2024 revenue $8.6 billion, up 23% YOY
    Lithia & Driveway (LAD), an automotive retailer in North America that also provides a suite of financing, leasing, repair and maintenance options, announced that its first quarter 2024 revenue increased 23% to $8.6 billion from $7.0 billion in the first quarter of 2023, according to a press release dated April 24. The company’s net income for the first quarter was $165 million, a 28% decrease compared to net income of $230 million in the same period of 2023. In terms of quarter-over-...
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    Phinia reports Q1 2024 aftermarket sales at $336 million, up 3% YOY
    Phinia, the spin-off company of the Fuel Systems and Aftermarket segments of Michigan, US-based powertrain technologies supplier BorgWarner, has reported results for the first quarter ended March 31, 2024, according to a press release dated April 25. The company’s Aftermarket division sales stood at $336 million, up from $326 million in the first quarter of 2023. Combined with its Fuel Systems division, overall net sales stood at $863 million, an increase of 3.4% compared with the first qua...
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    O’Reilly Automotive Inc. says Q1 2024 sales at $3.98 billion, up 7% YOY
    O’Reilly Automotive, Inc., a US-based retailer in the automotive aftermarket industry, has announced record revenue and earnings for its first quarter ended March 31, 2024, according to a press release dated Apr. 24. Sales for the first quarter increased $268 million, or 7%, to $3.98 billion from $3.71 billion for the same period one year ago. Operating income increased 5% to $752 million (or 18.9% of sales) from $717 million (or 19.3% of sales) for the same period one year ago. Net income ...
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    Auto Parts 4 Less Group Inc. reports revenue growth in Q1 2024
    Auto Parts 4 Less Group Inc., a US-based e-commerce automotive parts firm, has announced that its revenue climbed from $48,573 in January 2024 to $102,409 in March 2024, up 111%, according to a press release dated Apr. 17. The company didn’t disclose further revenue details. Christopher Davenport, CEO and Founder of Auto Parts 4 Less Group Inc. stated, "This success is primarily driven through our LiftKits4Less.com platform, which we reactivated just five months ago. Additionally, while our...
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    LKQ Corp. says Q1 2024 revenue $3.7 billion, up 11% YOY
    LKQ Corporation has reported first quarter 2024 financial results. In a press release dated Apr. 23, the company announced that its revenue for the first quarter of 2024 was $3.7 billion, up 10.6% compared to $3.3 billion for the first quarter of 2023. Its total parts and services revenue increased by 12.1%. Other revenue for the first quarter of 2024 fell 14.6% primarily due to weaker precious metals prices relative to the same period in 2023. Net income for the first quarter of 2024 was $15...
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    CarParts.com says its 2023 sales of $676 million, up 2% YOY, is its highest ever
    CarParts.com, a US-based e-commerce provider of automotive parts and accessories, has announced results for the fourth quarter and fiscal year ended Dec. 30, 2023. In a press release dated March 7, 2024, the company reported net sales in fiscal year at $675.7 million, up 2% from $661.6 million in fiscal year 2022. Net loss in fiscal year 2023 was $8.2 million compared to a net loss of $1.0 million in the previous year, the release added. Net sales in the fourth quarter of 2023 was $156.4...
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    Dorman Products reports 2023 sales at $1,929.8 million, up 11% YOY
    Dorman Products Inc., a US-based supplier in the motor vehicle aftermarket industry, has announced its financial results for the fourth quarter and full year ended Dec. 31, 2023, according to a press release dated Feb. 26, 2024. The company reported fourth-quarter 2023 net sales of $494.3 million, down 1% compared to net sales of $501.3 million in the fourth quarter of 2022. Gross profit was $194.2 million, or 39.3% of net sales, compared to $157.8 million, or 31.5% of net sales, for the same...
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    Italian automotive body ANFIA says 2023 spare parts turnover up 11.58% YOY
    Italy-based National Association of the Automotive Industry Supply Chain (ANFIA) has announced that its Aftermarket Barometer, a statistical survey within the ANFIA Components Group, has revealed that the aftermarket turnover of the association’s group companies grew 11.58% in 2023 compared to 2022, according to a press release dated Feb. 16, 2024. In 2022, the aftermarket turnover was up by 7.8% compared to 2021. The aftermarket turnover is considered as the turnover of component manufacturer...
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    O’Reilly Automotive reports Q4 2023 sales at $3.83 billion, up 5% YOY
    O’Reilly Automotive, a US-based automotive aftermarket parts retailer, has announced record revenue and earnings for its fourth quarter and full year (ended Dec. 31, 2023), according to a press release dated Feb. 7. The results represent 31 consecutive years of comparable store sales growth and record revenue and operating income for O’Reilly since becoming a public company in April 1993, the release added.  Sales for the fourth quarter (ended Dec. 31, 2023), increased $188 million, ...
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    Motorcar Parts of America reported Q3 FY 2024 net sales at $171.9 million up 13.2% YOY
    Motorcar Parts of America, a remanufacturer, manufacturer and distributor of automotive aftermarket parts, announced that it has reported results for the third quarter of fiscal year 2024 and nine-months ended Dec. 31, 2023. The performance represented a strong increase in net sales, operating income and cash flow from operating activities, according to a press release dated Feb. 9.  Net sales for the third quarter increased 13.2% to $171.9 million from $151.8 million in the prior year. ...
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    CarParts.com announces extension of $30 million repurchase plan
    CarParts.com Inc., a leading online retailer of automotive parts and accessories, announced that its board of directors has approved the extension of the company's current $30 million stock repurchase plan to July 26, 2026, according to a press release dated Jan. 22, 2024. The Repurchase Plan was originally set to expire on July 26, 2024. The company believes this extension supports planned approaches to capital deployment to create long-term value for stockholders through...
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    US-based Holley announces additional $25 million debt paydown
    Holley Inc. (Holley), a US-based manufacturer of high-performance aftermarket products for car and truck enthusiasts, announced that it paid down an additional $25 million in principal against its first lien term loan facility, according to a press release dated Dec. 19. This debt reduction against Holley’s first lien term loan facility was completed through opportunistic repurchases at a discount to par in November and December, and were completed using cash on hand, the company said. Comb...
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    Motorcar Parts of America launches vendor supply chain financing program
    Motorcar Parts of America, a remanufacturer, manufacturer and distributor of automotive aftermarket parts, announced that it has launched a vendor supply chain financing program designed to enhance payment terms and improve cash flow for both valued vendors and the company, according to a press release dated Nov. 28. The platform will be administered by a leading FinTech company, which services suppliers in more than 80 countries in multiple currencies. Motorcar Parts of America is engag...
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    Motorcar Parts of America says Q2 2024 sales at $196.6M, up 14% YOY
    US-based manufacturer and distributor of automotive aftermarket parts, Motorcar Parts of America, has reported record sales for its fiscal 2024 second quarter and six-month period ended Sept. 30, 2023, with record gross profit and strong cash flow from operating activities, according to a press release dated Nov. 9. The company’s net sales for the second quarter increased 14.0% to a record $196.6 million from $172.5 million in the prior year. Net loss for the quarter improved to $2.0 millio...
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    Advance Auto Parts reports Q3 net sales at $2.7 billion, up 2.9%
    Advance Auto Parts, an automotive aftermarket parts distributor in North America, has announced its third-quarter financial results on Nov. 15, 2023, highlighting a 2.9% increase in net sales to $2.7 billion compared to the same period last year. The company's gross profit decreased by 16.3% to $1.0 billion, primarily due to a change in inventory reserve estimates and higher product costs that were not fully covered by pricing actions. Selling, General & Administrative (SG&A) expenses...
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    ITT Inc reports Q3 2023 revenue at $822.1 million, up 9% YOY
    US-based ITT Inc, a manufacturer of critical components for the transportation, industrial, and energy markets, has reported financial results for the third-quarter ending on September 30, registering a 9% year-over-year revenue increase to $822.1 million primarily driven by 13% growth in both Industrial Process and Connect & Control Technologies, according to a press release dated November 2. The company's operating cash flow and free cash flow for the quarter and year-to-date increased ...
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    BorgWarner spinoff, Phinia, says Q3 2023 sales up 4.3% YOY to $896 million
    Phinia, the spin-off company of the Fuel Systems and Aftermarket segments of Michigan-based powertrain technologies supplier BorgWarner, has reported its third quarter 2023 results, according to a press release dated November 6. The company reported US GAAP (Generally accepted accounting principles) net sales of $896 million, an increase of 4.3% compared to Q3 2022. Growth in light vehicle original equipment (OE) sales was partially offset by lower commercial vehicle OE sales in China, the co...
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    US retailer O’Reilly Automotive says Q3 2023 sales at $4.20 billion, up 11% YOY
    O’Reilly Automotive, a US-based automotive aftermarket parts retailer, has announced record revenue and earnings for its third quarter ended Sept. 30, according to a press release dated Oct. 25. Sales increased $405 million, or 11%, to $4.20 billion from $3.80 billion for the same period one year ago. The company’s net income for the quarter rose $64 million, or 11%, to $650 million from $585 million for the same period one year ago. Sales for the first nine months of 2023 increased $1.21...
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    Sweden’s SKF reports Q3 2023 net sales at $2.3 billion, relatively flat YOY
    Sweden-based SKF, a supplier of rolling bearings, seals, mechatronics and lubrication systems, announced its third-quarter financial results on Oct. 27, 2023. The company reported a slowdown in demand due to weakening economic sentiment and customers reducing their inventories, but maintained its profitability and cash flow. SKF stated that despite the challenging market environment, its net sales increased to 25.8 billion Swedish kronor (about $2.3 billion) with organic growth relatively f...
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    Dorman Products says Q3 2023 sales at $488.2 million, up 18% YOY
    Dorman Products (Dorman), a US-based aftermarket supplier of original equipment (OE) dealer-exclusive parts, has announced its financial results for the third quarter ending Sept. 30, 2023, according to a press release dated Oct. 31. The company reported an 18% increase in net sales to $488.2 million compared to the same period last year, attributing the growth to the acquisition of SuperATV, price increases to offset inflation and the introduction of new products to the market. The company...
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    Genuine Parts Co. reports Q3 2023 sales at $5.8 billion, up 2.6% YOY
    US-based automotive parts distributor Genuine Parts Co. reported its third-quarter 2023 results, with sales of $5.8 billion, up 2.6% year over year, according to a press release dated October 19. Net income was $351 million, an increase of 12.4%, and the company generated cash flow from operations of $1.1 billion for the first nine months of 2023. The company ended the quarter with $2.2 billion in total liquidity. In terms of segment performance, global Automotive sales were $3.6 billion, up ...
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    LKQ says Q3 2023 revenue at $3.6 billion, up 15% YOY
    US-based distributor of replacement parts, components and systems LKQ Corp. has announced that its revenue for the third quarter ending on Sept. 30, 2023, stood at $3.6 billion, up 15.0% compared to $3.1 billion for the third quarter of 2022, according to a press release dated October 26. Total parts and services revenue rose 17.1% year over year. Net income for the third quarter of 2023 was $207 million as compared to $261 million for the same period in 2022, according to the release. ...
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    Hella Lifecycle Solutions January–September 2023 sales at €0.8 billion, up 9.7% YOY
    German automotive supplier Hella, which operates under the umbrella brand Forvia, announced that in the first nine months of the fiscal year 2023 (Jan. 1 to Sept. 30, 2023), the Lifecycle Solutions business group sales grew by 9.7% to €0.8 billion (nine months calendar year 2022: €0.7 billion), according to a press release dated October 18. The main drivers were the strong spare parts business in Poland, Mexico and Brazil. This included a further increase in demand for a newly launched pa...
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    Meko announces capital gain of €4 million through Denmark property sale
    Meko (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that it has divested a warehouse and office property in Denmark to the property manager Hanssen Stagnum A/S, according to a press release dated October 9. The transaction values the premises at approximately €6 million and results in a capital gain of about €4 million, the company said, adding that the deal further strengthens Meko's financial position. The property being sold is located in...
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    SunCar reports H1 2023 after-sales revenue at $98.8M, up 10% YOY
    SunCar Technology Group Inc. (SunCar), a provider of digitalized enterprise automotive aftersales services and an online auto insurance intermediation service in China, has announced that its revenue from automotive after-sales service in the six months ended June 2023 increased by 10% to $98.8 million from $89.9 million in the same period ended June 30, 2022, according to a press release dated September 28. The announcement was part of its financial results reported for the six months ended Jun...
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    US parts retailer AutoZone says Q4 2023 sales at $5.7 billion, up 6.4% YOY
    US-based retailer of aftermarket automotive parts and accessories AutoZone has reported net sales of $5.7 billion for its fourth quarter ended Aug. 26, 2023, an increase of 6.4% from the fourth quarter of fiscal 2022, according to a press release dated September 19. Net income for the quarter increased 6.8% over the same period last year to $864.8 million, while diluted earnings per share increased 14.7% to $46.46 from $40.51 in the year-ago quarter. For the fiscal year ended Aug. 26, 2023, s...
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    Advance Auto Parts says Q2 2023 sales $2.7 billion, up 0.8% YOY
    Advance Auto Parts, an automotive aftermarket parts distributor in North America, announced that for the second quarter ended July 15, 2023, its net sales stood at $2.7 billion, up 0.8% compared with the second quarter of the prior year, primarily driven by new store openings, according to a press release dated August 23. The growth was partially offset by a decline of comparable store sales of 0.6%. The company's operating income was $134.4 million, or 5.0% of net sales, compared with 7.6% i...
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    US wheel supplier Superior Industries says its German arm to undergo reorganization
    Superior Industries International (Superior), a US-based aluminum wheel supplier, has announced that its subsidiary, Superior Industries Production Germany (SPG), has entered into Protective Shield Proceedings, a court-administered reorganization, according to a press release dated August 31. These proceedings are strictly limited to SPG and its German-based manufacturing facility, operating at the production site in Werdohl, Germany. The company’s operations in the US, Mexico and Poland ar...
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    Valvoline says Q3 FY 2023 sales at $376.2 million, up 19% YOY
    Valvoline, a US-based supplier of lubricants and automotive services, has announced that in the third quarter of the fiscal year ended June 30, 2023, its sales from continuing operations stood at $376.2 million, up 19% over the same period last year, according to a press release dated August 9. The company’s operating income was $86.5 million, up 42% year over year, and income from continuing operations was $64.5 million, up 62%. Valvoline’s net store additions stood at 23 (22 company-ope...
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    Blink Charging says Q2 2023 revenue at $32.8 million, up 186% YOY
    Blink Charging Co., a global manufacturer, owner, operator and provider of electric vehicle charging equipment and services, has announced its financial results for the second quarter ended June 30, 2023, according to a press release dated August 8. Second-quarter 2023 total revenues increased 186% to $32.8 million, compared to $11.5 million in the second quarter of 2022, the release added. The company registered a 211% increase in service revenues to $7.0 million in the second quarter, compa...
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    Automotive coatings firm Xpel says Q2 2023 revenue at $102.2 million, up 21.9% YOY
    Xpel Inc., a US-based provider of aftermarket automotive products, including automotive surface and paint protection, ceramic coatings, headlight protection and automotive window films, has announced that for the quarter ended June 30, 2023, the company’s revenues increased 21.9% year over year to $102.2 million, according to a press release dated August 9. Its gross margin percentage improved to 43.0% in the second quarter, a new high for the company, and net income grew 32.3% to $15....
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    Holley says Q2 2023 sales at $175.3 million, down 2.3% YOY
    Holley Inc. (Holley), a US-based manufacturer of high-performance aftermarket products for car and truck enthusiasts, announced that in its second quarter ended July 2, 2023, net sales decreased 2.3% to $175.3 million compared to $179.4 million last year, according to a press release dated August 10. Its net income was $13.0 million, or $0.11 per diluted share, compared to $40.6 million, or $0.35 per diluted share, last year. The company’s free cash flow was $29.0 million compared to $1.3 m...
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    Standard Motor Products reports Q2 2023 sales at $353.1 million, down 1.7% YOY
    Standard Motor Products, an automotive parts manufacturer and distributor, has announced its consolidated financial results for the three and six months ended June 30, 2023, according to a press release dated August 2. The company’s net sales for the second quarter of 2023 were $353.1 million, compared to consolidated net sales of $359.4 million during the comparable quarter in 2022. Consolidated net sales for the six months ended June 30, 2023, were $681.1 million, compared to $682.2 million ...
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    Recreational vehicle component supplier LCI Industries reports Q2 2023 results
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    Recreational vehicle component supplier LCI Industries reports Q2 2023 results
    LCI Industries has reported second-quarter 2023 results, according to a press release dated August 8. A US-based company, LCI Industries, through its wholly-owned subsidiary Lippert Components, supplies components for leading original equipment manufacturers in the recreation, transportation products and housing markets, and the related aftermarkets of those industries. The company reported aftermarket net sales at $255.6 million, down 2% year over year, due to inflat...
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    Indian aftermarket industry FY 2023 turnover at $10.6 billion, up 6% YOY
    The Automotive Component Manufacturers Association of India (ACMA) has reported the turnover of India’s aftermarket at $10.6 billion for the period of April 2022 to March 2023, registering a growth of 6% year over year, according to a press release dated August 7. An increase in the movement of vehicles post-pandemic and surge in demand for used vehicles led to buoyancy in the aftermarket across all segments, ACMA noted. The country’s apex automotive component industry body said the overa...
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    Hella Lifecycle Solutions January–June 2023 sales at €551 million, up 10% YOY
    German automotive supplier Hella, which operates under the umbrella brand Forvia, announced that in the first half of the fiscal year 2023 (January 1 to June 30), in the Lifecycle Solutions business group, sales grew by 10% to €551 million (first half of calendar year 2022: €501 million), according to a press release dated July 24. The company said growth drivers for the division were a strong spare parts business in Poland, Mexico and Brazil, new product launches of Hella Gutmann Solutio...
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    BorgWarner’s spinoff Phinia says Q2 2023 sales up 11.4% YOY to $887 million
    Phinia, the spin-off company of the Fuel Systems and Aftermarket segments of Michigan-based powertrain technologies supplier BorgWarner, has reported its second quarter 2023 results, according to a press release dated August 7. Phinia operated as part of BorgWarner Inc. for the entire second quarter of 2023 prior to the spin-off July 3, and the historical financial measures presented in this release were derived from BorgWarner Inc.’s accounting records and are presented on a carve-out basis. ...
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    US-based Advance Auto Parts comments on TRC Capital’s mini-tender offer
    Advance Auto Parts, an automotive aftermarket parts distributor in North America that serves both professional installer and do-it-yourself customers, announced that it was notified that TRC Capital Investment Corp. (TRC) has made an unsolicited “mini-tender” offer to purchase up to 1,000,000 shares of Advance Auto Parts stock, according to a press release dated July 17. The company said the offer was made at $65.75 per share, or 4.43% below the closing price of the company’s stock on J...
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    Dorman Products says Q2 2023 sales at $480.6 million, up 15% YOY
    Dorman Products (Dorman), a US-based aftermarket supplier of original equipment (OE) dealer-exclusive parts, has announced its financial results for the second quarter ended July 1, 2023, according to a press release dated August 1. The company registered net sales of $480.6 million, up 15% compared to net sales of $417.4 million in the second quarter of 2022. The sales growth was primarily driven by the addition of SuperATV, along with price increases to offset inflation and the introduction of...
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    LKQ Corp. says Q2 FY 2023 revenue at $3.4 billion, up 3.2% YOY
    US-based distributor of replacement parts, components and systems, LKQ Corp., has reported revenue of $3.4 billion in the second quarter of 2023, up 3.2% as compared to $3.3 billion in the second quarter of 2022, according to a press release dated July 27. Total parts and services revenue rose 5.4%, the release added. Net income for the second quarter stood at $281 million as compared to $420 million for the same period in 2022. The company completed the sale of PGW Auto Glass on Apr. 18, 202...
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    Genuine Parts Co. reports Q2 2023 sales at $5.9 billion, up 5.6% YOY
    US-based automotive parts distributor Genuine Parts Co. has announced its results for the second quarter ending June 30, 2023, according to a press release dated July 20. The company registered sales of $5.9 billion, up 5.6% compared to $5.6 billion in the same period of the prior year. Net income was $344 million, or a diluted earnings per share of $2.44. This compares to net income of $373 million, or $2.62 per diluted share in the prior year period. The company said its Global Automot...
    News
    US-based Parts iD announces new financing
    Parts iD, a US-based e-commerce company for automotive parts, accessories and the aftermarket, announced two new funding agreements that deliver $7 million in immediate proceeds to the company, according to a press release dated July 17. The company is the owner and operator of, among other verticals, “CARiD.com,” a leading digital commerce platform for the automotive aftermarket. The first funding agreement is a $3.75 million investment by Lind Global Partners II LP, an investm...
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    Lordstown Motors files for bankruptcy, files litigation against Foxconn
    Ohio-based electric-vehicle maker Lordstown Motors Corp. has filed for bankruptcy and said that it would put all assets up for sale amid an ongoing dispute with Taiwan-based electronics company Foxconn in the US, the company announced June 27. In parallel, Lordstown, the maker of the Endurance electric pickup, has also sued Foxconn. “As part of the process, Lordstown today filed litigation against global technology company Hon Hai Technology Group and certain of its affiliates, includi...
    News
    Specialty Equipment Market Association says specialty-equipment industry sales at $51 billion in 2022, up 2% YOY
    The Specialty Equipment Market Association (SEMA), a US-based trade organization for the automotive aftermarket industry, has announced that the specialty-equipment market recorded a growth of 2% in 2022 reaching $51.8 billion in sales, according to a press release dated June 19, quoting the new 2023 SEMA Market Report. While the growth percentage was slightly down from the industry’s typical annual rate of 4% to 5%, the slowing was expected given current economic challenges, SEMA obse...
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    US automotive aftermarket grew at 9.7% in 2022
    The US automotive aftermarket grew by 9.7% in 2022 to $360.4 billion — surpassing the previous year’s projections of 8.8% despite looming recession concerns and supply chain challenges, according to a press release dated June 14 by the Auto Care Association, a US-based industry body representing independent manufacturers, distributors and repair shops. The findings are part of the 2023 Joint Channel Forecast Model report published by the Auto Care Association and Motor &...
    News
    Motorcar Parts of America says Q4'23 net sales at a record $194.7 million, up 18.8% YOY
    US-based manufacturer and distributor of automotive aftermarket parts, Motorcar Parts of America has reported results for its fiscal 2023 fourth quarter and year ended March 31, 2023, with the results reflecting record sales. In a release dated June 13, the company said net sales for the fourth quarter increased 18.8% year over year to a record $194.7 million from $163.9 million in the prior year. Net income for the fourth quarter was $1.5 million, compared with a net loss of $322,000 a yea...
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    Advance Auto Parts says Q1 2023 sales $3.4 billion, up 1.3% YOY
    Advance Auto Parts, an automotive aftermarket parts distributor in North America, announced that for the first quarter ended April 22, 2023, its net sales stood at $3.4 billion, up 1.3% compared with the first quarter of the prior year, primarily driven by new store openings, according to a press release dated May 31. The company's operating income was $90.0 million or 2.6% of net sales, compared with 6.0% in the first quarter of 2022, the release added. Significance: Commenting on the res...
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    AutoZone reports Q3 sales at $4.1 billion, up 5.8% YOY
    US-based retailer of aftermarket automotive parts and accessories AutoZone has reported net sales of $4.1 billion for its third quarter ended May 6, 2023, an increase of 5.8% from the third quarter of fiscal 2022, according to a press release dated May 23. Domestic same-store sales, or sales for stores open at least one year, increased 1.9% for the quarter, the company said. Net income for the quarter increased 9.3% over the same period last year to $647.7 million, the company said. Signif...
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    Automotive coatings firm XPEL reports Q1 2023 revenue $85.8 million, up 19.5% YOY
    XPEL, a US-based provider of aftermarket automotive products, including automotive surface and paint protection, ceramic coatings, headlight protection and automotive window films, has announced that for the quarter ended March 2023, the company’s revenues increased 19.5% to $85.8 million, according to a press release dated May 9. Net income grew 46.5% to $11.4 million, or $0.41 per share, compared to $7.8 million, or $0.28 per share, in the same quarter of 2022, the release added...
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    Aftermarket supplier Holley says Q1 2023 sales down 13.9% YOY to $172.2 million
    Holley Inc. (Holley), a US-based manufacturer of high-performance aftermarket products for car and truck enthusiasts, announced results for the first quarter ended April 2, 2023, according to a press release dated May 11. The company said its net sales decreased 13.9% year over year to $172.2 million and gross profit decreased 18.1% year over year to $67.7 million compared to the prior year's first quarter. The company’s net income stood at $4.3 million, or $0.04 per diluted share...
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    Vitesco Technologies says Q1 2023 sales €2.31 billion, up 2.5% YOY
    Global automotive supplier of electric mobility and powertrain components Vitesco Technologies announced that sales for the first quarter of 2023 came in at €2.31 billion, up 2.5% over €2.26 billion in the same quarter last year, according to a press release dated May 12. The company said its focus on the electrification business was again strengthened in January when it reorganized its four business units into two new divisions: Powertrain Solutions and Electrification Solutions. Th...
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    Valvoline reports second-quarter results
    Valvoline Inc. (Valvoline), specializing in preventive automotive maintenance, reported financial results for its second fiscal quarter ended March 31, 2023, as per a press release May 10. Sales from continuing operations of $344.5 million grew 16% and 19% on an adjusted basis, while system-wide same store sales (SSS) increased 13.5%. Reported income from continuing operations of $32.9 million grew 43% and adjusted EBITDA of $87.1 million increased 26%. Valvoline completed the sale of it...
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    Continental starts 2023 with solid results
    Continental AG (Continental) started 2023 with solid results, in line with its expectations, with consolidated sales of $11.3 billion (first quarter of 2022: $10.2 billion, up 11.1%), the company announced in a press release May 10. The technology company anticipates a further improvement in earnings over the course of the year, in particular due to rising production figures for passenger cars and light commercial vehicles, inflation-related price adjustments and cost discipl...
    News
    AAM reports first quarter 2023 financial results
    American Axle & Manufacturing Holdings Inc. (AAM), has reported a loss in its financial results for the first quarter of 2023, as reported in a press release May 5. "AAM's financial performance in the first quarter reflects customer production shutdowns and continued supply chain volatility. That stated, we are managing what we can control,” said AAM’s Chairman and CEO, David C. Dauch. “Our cutting-edge electric propulsion technology and our heritage in beam axles continue to p...
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    Schaeffler Group starts fiscal year 2023 with a good quarter
    Global automotive and industrial supplier Schaeffler AG (Schaeffler Group) has published its figures for the first three months of 2023, as reported in a press release dated May 9. In the reporting period, sales amounted to $4,549 million (previous year: $4,118 million). This corresponds to an increase in sales of 10.4%, to which all divisions and regions contributed. The Automotive Technologies, Automotive Aftermarket and Industrial divisions increased their sales by 6%, 25.7% and 13.4% resp...
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    Apollo Tyres' FY'23 revenue up 17%
    The board of directors of Apollo Tyres Ltd. (Apollo Tyres) approved the company’s audited financial results for the fourth quarter (January to March) and the financial year 2022–23. Consolidated revenues from operations across geographies for the fourth quarter grew 12% to close at $761 million, whereas for the full year of financial year 2023, it grew more than 17% to close at $2,992 million. Both Indian Operations' and European Operations’ revenue grew 9% each, in the f...
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    BorgWarner reports first quarter of 2023 results
    Net sales were $4,180 million for the first quarter of 2023, an increase of 8% compared with $3,874 million for the first quarter of 2022, as reported in a company press release May 4. Net earnings for the first quarter of 2023 were $217 million, or $0.93 per diluted share, compared with net earnings of $200 million, or $0.84 per diluted share, for the first quarter of 2022. Adjusted net earnings per diluted share for the first quarter of 2023 were $1.09, up from adjusted net earnings per ...
    News
    DENSO announced global financial results for its fiscal year
    DENSO, a leading mobility supplier, announced global financial results for its fiscal year ending March 31, 2023, according to a company press release on April 27. Revenue for the fiscal year ending March 21, 2023, totaled $59.5 billion. In Japan, revenue increased to ¥3,705.8 billion (about $27.8 billion), up 5.4% from the previous year, and operating profit was ¥215.6 billion, a 14.1% rise from the previous year. In North America, revenue increased to ¥1,504.1 billio...
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    Driven Brands Holdings Inc. reports strong first-quarter results
    Driven Brands Holdings Inc. reported financial results for the first quarter ended April 1, 2023, according to a press release on May 3. For the first quarter, Driven Brands delivered revenue of $562.5 million, up 20% versus the prior year. System-wide sales were $1.5 billion, up 19% versus the prior year driven by 9% same-store sales growth and 7% net store growth. Net income decreased 14% versus the prior year to $29.7 million or $0.17 per diluted share. Adj...
    News
    O’Reilly Automotive reports Q1 2023 sales at $3.71 billion, up 12% YOY
    O’Reilly Automotive, a US-based automotive aftermarket-parts retailer, has announced record revenue and earnings for its first quarter ended March 31, 2023. In a press release dated April 26, it said sales for the first quarter increased $412 million, or 12%, to $3.71 billion from $3.30 billion for the same period one year ago. The company’s operating income for the first quarter increased 7% to $717 million from $670 million for the same period one year ago. Net income for the first quar...
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    MAHLE reports 2022 sales at €12 billion, up 14% YOY
    MAHLE, a Stuttgart-based global supplier of powertrain and thermal components in Germany, announced in a press release dated April 25 that in the 2022 financial year, its sales grew by 14% to €12.4 billion. The company said it is reorienting itself in the light of the transformation in the automotive industry, and electrification and thermal management are the core of the corporate strategy MAHLE 2030+. The company believes its sales potential in connection with electric cars to be three ...
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    Dorman Products says Q1 2023 net sales at $466.7 million, up 16% YOY
    Dorman Products, a US-based aftermarket supplier of original equipment (OE) dealer exclusive parts, has announced its financial results for the first quarter ended April 1, 2023, according to a press release dated May 2. The company reported first quarter 2023 net sales of $466.7 million, up 16% compared to net sales of $401.6 million in the first quarter of 2022. The sales results reflect the addition of SuperATV, an independent supplier to the powersports aftermarket as well as replacement ...
    News
    Valeo posts 15% YOY increase in Q1 2023 net sales to $5.5 billion
    Valeo has reported a 15% year-over-year increase in first-quarter net sales at €5.48 billion, according to a filing by the company on April 25. Original equipment sales were up 13% like for like on an adjusted basis. Valeo secured new orders for around €4 billion, including for Valeo 800V Silicon Carbide (SiC) inverter technology. Christophe Périllat, Valeo’s CEO, said, “Our first-quarter sales, up 15% to 5.5 billion euros, reflect a solid start to 2023 for Valeo. "This ...
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    Group 1 Automotive says Q1 2023 revenue $4.1 billion, up 7.4% YOY
    Group 1 Automotive, Inc., an automotive retailer with dealerships located in the US and UK, has reported financial results for the first quarter of 2023 with total revenues at $4.1 billion, up 7.4% increase compared to $3.8 billion for the first quarter of 2022, according to a press release dated April 26. Net income from continuing operations for the current quarter was $158.8 million, a 21.1% decrease compared to $201.1 million for the prior year quarter, the release added. The firs...
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    Genuine Parts Company reports Q1 2023 sales at $5.8 billion, up 8.9% YOY
    US-based automotive parts distributor Genuine Parts Company has announced its results for the first quarter ending on March 31, 2023, according to a press release dated April 20. The company reported sales at $5.8 billion, an 8.9% increase compared to $5.3 billion in the same period of the prior year. The growth in sales is attributable to an increase in comparable sales and a benefit from acquisitions, partially offset by a net unfavorable impact of foreign currency, the release added. ...
    News
    ZF Aftermarket Division posts sales of €3.2 billion in 2022, up 6% YOY
    Technology supplier ZF has announced that in 2022, its aftermarket and electric drives areas developed successfully. On the back of more digital solutions and services, the ZF Aftermarket Division increased its sales by 6% to €3.2 billion in 2022, according to a press release dated March 16. In e-mobility, the order backlog for electrified drives for passenger cars and commercial vehicles now amounts to more than €30 billion, the company said, adding that this enables ZF to make the trans...
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    Hella Lifecycle Solutions June–December 2022 sales at €0.6 billion
    German automotive supplier HELLA, which operates under the umbrella brand FORVIA, announced that in the short fiscal year 2022 (June 1 to December 31, 2022), in the Lifecycle Solutions business group, sales amounted to €0.6 billion, according to a press release dated March 21. It said one factor here was the success of the spare parts business in key country markets, such as Mexico and the US. In the commercial vehicle business, all relevant customer segments recorded high demand,...
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    Hengst Filtration says 2022 sales at €655 million, up 13% YOY
    Hengst Filtration, a Germany-based specialist in liquid and air filtration, has announced that it booked worldwide sales of €655 million in 2022 and that further investments in transformation and internationalization are on the agenda for 2023, according to a press release dated March 31. The sales figure constitutes an increase of 13% over the previous year and has almost doubled in the last five years, the company said. This growth was primarily based on business in the independent a...
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    UK online used car retailer Cazoo provides business performance update
    Cazoo Group Ltd., a UK-based online car retailer, has provided an update on its business performance since the start of the year 2023 and its progress with the business restructuring announced in January, according to a press release dated March 7. The company’s January and February retail sales volumes and revenues were in line with expectations as it focused on unit economics. It said it continues to improve its retail GPU or Gross Profit per Unit which is tracking at aroun...
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    MEKO outlines financial targets and priorities to strengthen its position
    MEKO (previously Mekonomen Group), an automotive spare-parts distributor based in Sweden, announced that its company management has presented adjusted financial targets, and explained in more detail how it plans to strengthen its position as a market leader in the independent vehicle aftermarket in northern Europe, according to a press release dated March 21. The updated financial targets indicate that a net sales corresponding to approximately 19 billion Swedish kronor (around US$1...
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    Myers Industries reports net sales of USD900 million in FY 22, up 18% y/y
    Myers Industries, Inc., a manufacturer of a wide range of polymer and metal products, and distributor for the tire, wheel, and under-vehicle service industry, announced results for the the fourth quarter and full year ended 31 December 2022, via a press release dated 1 March.  The key highlights of the financial results were: Net sales were USD213 million, up 7% versus prior year period in the fourth quarter of 2022 and net sales stood at USD900 million, up 18% ...
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    Schaeffler reports 2022 aftermarket division revenue at EUR2.0 billion, up 7% y/y
    German automotive and industrial component supplier Schaeffler AG announced that its automotive aftermarket division’s revenue rose to more than EUR2.038 billion (around USD2.19 billion) in 2022, up from EUR1.848 billion (around USD1.98 billion) in 2021, according to a press release dated 7 March. At constant currency, the revenue growth stood at 7%. The rise was mainly driven by favorable price realization and a significant part of the considerable increase in procurement costs was pa...
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    Garrett Motion reports Q4 2022 net sales of USD898 million, up 4% y/y
    Garrett Motion, a Switzerland-based autoparts maker and provider of turbocharging, electric boosting, and automotive software solutions, has announced its financial results for the quarter and year ending on 31 December 2022, according to a press release dated 14 February. The company’s net sales for the fourth quarter of 2022 were USD898 million, up 4% compared with USD862 million in the fourth quarter of 2021. The increase in net sales was driven by successful recoveries on inflation...
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    CarParts.com says FY 2022 sales at USD661.6 million, up 14% y/y
    CarParts.com, a US-based e-commerce provider of automotive parts and accessories, has reported its results for the fourth quarter and fiscal year ending on 31 December 2022, according to a press release dated 7 March. Net sales in fiscal year 2022 were USD661.6 million, up 14% from USD582.4 million in fiscal year 2021.  Net loss during the year stood at USD1 million, compared to a net loss of USD10.3 million in fiscal year 2021, the release added. For the fourth quarter of 2022, ...
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    Dorman Products posts 25.9% y/y jump in net sales in Q4 2022
    Dorman Products, a US-based aftermarket supplier of OE dealer exclusive parts, has announced its financial results for the fourth quarter and full year ending on 31 December 2022, according to a press release dated 28 February. The company reported fourth quarter net sales of USD501.3 million, up 25.9% compared to net sales of USD398.2 million in the fourth quarter of 2021. Dorman said the results reflected a continuation of favorable underlying industry dynamics across all customer...
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    Advance Auto Parts reports net sales of USD11.2 billion in FY 2022, up 1.4% y/y
    Advance Auto Parts, an automotive aftermarket parts distributor in North America, has announced its financial results for the fourth quarter and full year ended 31 December 2022, according to a press release dated 28 February.  For the full year 2022, the company's net sales stood at USD11.2 billion, an increase of 1.4% compared to 2021. The company's full year gross profit was USD5 billion, or 44.5% of net sales, which decreased 33 basis points compared with the prio...
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    Standard Motor Products records revenue of USD1.37 billion in fiscal 2022, up 5.6% y/y
    US-based independent manufacturer and distributor of automotive replacement parts, Standard Motor Products (SMP), has reported its consolidated financial results for the three and 12 months ended 31 December 2022, a press release dated 22 February read. Consolidated net sales for the 12 months ended 31 December 2022 were USD1.37 billion, compared to consolidated net sales of USD1.30 billion during the comparable period in 2021. Earnings from continuing operations ...
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    Fras-le records revenue of BRL3.1 billion in fiscal 2022, up 18% y/y
    Brazilian parts manufacturer, Fras-le, has announced that it has achieved a new record result with increasing, balanced, and positive performance in all operations in Brazil and worldwide, according to a press release dated 27 February. The company's consolidated net revenue for fiscal 2022 was BRL3.1 billion (USD586 million), an increase of 18% compared to 2021. EBITDA reached BRL453 million in the year 2022, an increase of 17%, while the recorded EBITDA margin was 14.8%.  Reven...
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    Driven Brands reports revenue of USD2 billion, up 39% y/y
    Driven Brands, a US-based automotive aftermarket repairing and servicing company, has reported its financial results for the fourth quarter and fiscal year ended 31 December 2022, via a press release dated 22 February.  For the fiscal year, Driven Brands reported revenue of USD2 billion, up 39% versus the prior year. Systemwide sales of the company stood at USD5.6 billion, up 24% versus the prior year with 14% same-store sales growth and 9% net store growth.  ...
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    LKQ Corporation Q4 FY 2022 revenue USD3.0 billion, down 5.8% y/y
    US-based distributor of replacement parts, components, and systems, LKQ Corporation, has reported fourth quarter 2022 financial results in which its revenue stood at USD3 billion, a decrease of 5.8% as compared to USD3.2 billion in the fourth quarter of 2021, according to a press release dated 23 February. The company’s total parts and services revenue decreased 4.8% and its other revenue fell 20.1% in the fourth quarter, primarily due to weaker commodity prices relative to the same period ...
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    Genuine Parts Company says Q4 2022 sales at USD5.5 billion, up 15%
    US-based automotive parts distributor Genuine Parts Company has announced its results for the fourth quarter and twelve months ending on 31 December 2022, according to a press release dated 23 February. The company reported sales of USD5.5 billion, a 15% increase compared to USD4.8 billion in the same period of the prior year. Net income was USD252 million as against USD256 million in the prior year period. Within its Automotive Parts Group, global automotive sales were USD3.4 billion in the ...
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