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Genuine Parts Company Declares Regular Quarterly Dividend
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By markbenn
In the hustle and bustle of our daily lives, it’s easy to overlook the care that our vehicles need to perform at their best. However, beneath the hood lies a complex machinery that requires regular attention and maintenance. Welcome to a journey where we unveil the myriad benefits that come with making regular visits to your trusted car workshop. From performance enhancements to ensuring safety on the road, the advantages of routine professional care are both extensive and impactful.
1. Performance Optimization: The Tuning Touch
One of the most noticeable benefits of regular car workshop visits is the optimized performance of your vehicle. Expert mechanics have the know-how to fine-tune your engine, ensuring it operates at its peak efficiency. From adjusting the fuel injection system to optimizing the ignition timing, these tweaks contribute to a smoother and more powerful driving experience. Your car becomes a well-oiled machine, responding to your commands with precision and grace.
2. Preventive Maintenance: Nipping Issues in the Bud
Prevention is often better than cure, and this holds true in the world of automotive care. Regular workshop visits involve thorough inspections and diagnostics, allowing mechanics to identify potential issues before they escalate into major problems. From checking fluid levels to inspecting the braking system, these preventive measures can save you from costly repairs down the road. It’s a proactive approach to car care that keeps you ahead of the curve.
3. Fuel Efficiency Unleashed: The Economic Advantage
In a world where fuel prices can fluctuate, every drop counts. Regular car servicing plays a crucial role in maintaining optimal fuel efficiency. Mechanics ensure that your engine is running at its most efficient, preventing fuel wastage. Simple adjustments and replacements, such as changing air filters and spark plugs, can have a significant impact on your car’s mileage. The result? More miles per gallon and less strain on your wallet at the pump.
4. Safety First: Ensuring Roadworthiness
Safety should always be a top priority on the road, and regular car workshop visits contribute significantly to this aspect. Mechanics conduct comprehensive safety checks, examining crucial components like brakes, lights, and tires. Identifying and addressing potential safety hazards ensures that you and your passengers are protected while driving. It’s not just about keeping your car in good shape; it’s about safeguarding lives on the road.
5. Resale Value Resilience: Investing in the Future
Beyond immediate benefits, regular workshop visits contribute to the long-term value of your vehicle. A well-maintained car with a comprehensive service history is more attractive to potential buyers. When the time comes to upgrade or sell, having a record of regular professional care can significantly boost your car’s resale value. It’s an investment in the future that pays off when you decide to part ways with your trusted vehicle.
6. Technology Triumphs: Staying Current in the Automotive World
The automotive industry is constantly evolving, with new technologies emerging to enhance the driving experience. Regular workshop visits keep your car abreast of these innovations. Whether it’s updating software systems, integrating new safety features, or addressing recalls, staying connected to your workshop ensures that your vehicle remains technologically competitive. Embracing these advancements not only improves your driving experience but also enhances the overall safety and efficiency of your car.
7. Peace of Mind Driving: The Emotional Benefits
Last but certainly not least, there’s a unique peace of mind that comes with knowing your vehicle is in expert hands. Regular car workshop visits mean that your car is receiving the care it deserves. You can drive with confidence, knowing that potential issues are being addressed, and your vehicle is well-prepared for the challenges of the road. It’s an emotional benefit that extends beyond the mechanical aspects, fostering a worry-free and enjoyable driving experience.
How Service My Car Assists You?
Have you reached a point where you’re questioning, “Where can I find the top car workshop for my Car?” Look no further. At Service My Car, we provide premium car servicing, repair, and link hidden, please login to view services, always within your reach. With specialized service offerings for your car and comprehensive service packages, we ensure the collection and drop-off of your vehicle following its maintenance.
In conclusion, the benefits of regular car workshop visits extend far beyond the basic idea of maintenance. It’s about unlocking the full potential of your vehicle, ensuring safety, optimizing performance, and making a wise investment in its longevity. So, the next time you hear the call for routine maintenance, embrace it as an opportunity to unveil the hidden advantages that come with caring for your car. After all, it’s not just a vehicle; it’s a companion on the journey of life.
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By Counterman
New Advance Auto Parts CEO Shane O’Kelly served as a U.S. Army captain in the 1990s after graduating from the U.S. Military Academy at West Point.
Early in Advance’s third-quarter conference call on Nov. 15 – during which the company reported an operating loss of $43.7 million – O’Kelly said his time in the military taught him the importance of aligning an organization “around fewer measurable goals while ensuring while ensuring discipline and accountability in the process to achieve those goals.”
O’Kelly, who replaced Tom Greco as CEO on Sept. 11, then outlined five “decisive actions” that Advance is taking “to help stabilize the company and return to profitable growth.”
The headliner was the company’s decision to divest its most prized asset: Worldpac.
Advance acquired Worldpac and Carquest in 2014 through its acquisition of General Parts International Inc. At the time, Advance boasted that the transaction created the largest provider of aftermarket parts in North America.
Centerview Partners, an investment-banking and advisory firm, will assist with the sale process, according to the company.
“Worldpac is a high-performing business and as you know, is very different than our core blended-box model,” O’Kelly said during the conference call. “As we get back to the fundamentals of servicing our professional and DIY customers, we view now as the right time to simplify our model. The Worldpac business still operates relatively independently from Advance, and we believe that the sale process will not create a distraction.”
In a separate sales process, Advance plans to divest its business in Canada. Advance’s Canadian business – which goes to market under the Carquest banner – predominantly serves DIFM customers.
As part of its operational review launched in August, Advance also announced a cost-cutting program that the company expects to generate at least $150 million in annualized savings. While Advance’s Q3 net sales were up 3% to $2.7 billion, the company reported negative cash flow through the first three quarters of 2023 – an outflow of $156.8 million.
The cost-reduction program “will be primarily driven by simplifying our organizational structure, minimizing duplicative efforts and eliminating investments that are not core to supporting our frontline team members and customers,” O’Kelly said.
O’Kelly noted that Advance plans to reinvest approximately $50 million from the cost-cutting program “to improve the retention of our frontline teams and ensure we have experienced team members to serve our customers.”
“In fact, we began making changes to our frontline compensation structure in Q3 and are already seeing a reduction in turnover in targeted frontline roles,” he added.
Advance Appoints New CFO
Coinciding with its third-quarter earnings announcement, Advance announced the appointment of Ryan Grimsland as executive vice president and chief financial officer, effective Nov. 27.
Tony Iskander, who has served as interim chief financial officer since August, will continue in his role as senior vice president, finance and treasurer.
Grimsland, 46, brings more than 20 years of experience in corporate finance, treasury, financial planning and retail strategy and transformation.
Most recently, Grimsland served as senior vice president, strategy and transformation at Lowe’s Companies. During his 17-year tenure at Lowe’s, he held leadership roles across all aspects of the finance organization, including senior vice president, corporate finance and treasurer; vice president, corporate financial planning and analysis; and vice president, stores finance.
During Advance’s Nov. 15 conference call, O’Kelly said Grimsland “has a strong track record of driving organizational improvements while implementing best practices to resolve complex issues.”
“In addition to our CFO announcement, we’ve taken action to streamline our management structure,” O’Kelly added. “We have reorganized parts of my leadership team and transitioned responsibilities for our marketing, merchandising and e-commerce functions to the appropriate leaders in our organization who will drive enhanced collaboration and accountability.”
As part of that reorganization, Advance announced that it is eliminating the position of executive vice president, merchandising, marketing and e-commerce, currently held by Jason McDonell. McDonell will depart from the company effective Dec. 1.
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By partsman
Advance Auto Parts announced today, as part of their Q3 earnings release, that they are initiatiating the sale of their Worldpac and Canadian businesses (operates under Carquest).
Strategic Review Update
The company has initiated separate sale processes for the potential divestiture of Worldpac and the company’s Canada business. Worldpac, a leading automotive wholesale distributor of original equipment and aftermarket parts for all makes/all models, is highly recognized for its world class technology, catalog, product brand assortment and training. The company's Canadian business, which predominantly serves commercial customers, goes to market under the Carquest banner.
The company has engaged Centerview Partners to assist in the sale processes. The company has not set a timetable for the conclusion of the sale processes and does not intend to comment on or provide updates regarding these matters unless and until the processes are concluded or it determines that further disclosure is appropriate or required.
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By NAPA
ATLANTA, Nov. 14, 2023 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, announced today its Board of Directors declared a regular quarterly cash dividend of ninety-five cents ($0.95) per share on the company's common stock. The dividend is payable January 2, 2024 to shareholders of record on December 1, 2023.
About Genuine Parts Company
Founded in 1928, Genuine Parts Company is a global service organization engaged in the distribution of automotive and industrial replacement parts. The company's Automotive Parts Group distributes automotive replacement parts in the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal. The company's Industrial Parts Group distributes industrial replacement parts in the U.S., Canada, Mexico and Australasia. In total, the company serves its global customers from an extensive network of more than 10,000 locations in 17 countries and has approximately 58,000 employees. Further information is available at
link hidden, please login to view link hidden, please login to view SOURCE Genuine Parts Company
For further information: Investor, Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations; Media, Heather Ross, (678) 934-5220, Vice President - Strategic Communications
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