Jump to content

  • Welcome to Auto Parts Forum

    Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn. 

     

Advance Auto Parts Reports Second Quarter Fiscal 2017 Results

APF

By APF
in Advance Auto Parts Forum

 Share

Recommended Posts

APF

APF

Posted
Posted
  • Q2 sales increased year over year to $2.26 Billion. Comparable store sales flat.
  • Year to date free cash flow more than doubled versus prior year. Year to date operating cash flow grew 28% versus prior year.

ROANOKE, Va.--(BUSINESS WIRE)--Aug. 15, 2017-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America, that serves both professional installer and do-it-yourself customers, today announced its financial results for the second quarter ended July 15, 2017. Second quarter GAAP earnings per diluted share (Diluted EPS) were $1.17. Second quarter Adjusted earnings per diluted share (Adjusted EPS) were $1.58, which excludes $0.41 of non-GAAP adjustments.

 
Second Quarter Performance Summary
                                         
        Twelve Weeks Ended       Twenty-Eight Weeks Ended        
        July 15,
2017 		      July 16,
2016 		      July 15,
2017 		      July 16,
2016 		     

Q2 BPS
Inc (Dec)

                                         
Sales (in millions)       $ 2,263.7         $ 2,256.2         $ 5,154.6         $ 5,235.9          
                                         
Comp Store Sales %       0.0 %       (4.1 %)       (1.5 %)       (2.8 %)        
                                         
Gross Profit (in millions)       $ 993.1         $ 1,010.3         $ 2,263.8         $ 2,360.1          
Gross Profit (% sales)       43.9 %       44.8 %       43.9 %       45.1 %       (91 )
                                         
SG&A (in millions)       $ 846.4         $ 793.6         $ 1,937.3         $ 1,872.5          
SG&A (% sales)       37.4 %       35.2 %       37.6 %       35.8 %       222  
                                         
Adjusted SG&A (in millions) (1)       $ 797.6         $ 767.1         $ 1,863.3         $ 1,802.0          
Adjusted SG&A (% sales)       35.2 %       34.0 %       36.1 %       34.4 %       123  
                                         
Operating Income (in millions)       $ 146.7         $ 216.7         $ 326.5         $ 487.7          
Operating Income (% sales)       6.5 %       9.6 %       6.3 %       9.3 %       (312 )
                                         
Adjusted Operating Income (in millions) (1)       $ 195.5         $ 243.1         $ 400.4         $ 558.2          
Adjusted Operating Income (% sales)       8.6 %       10.8 %       7.8 %       10.7 %       (214 )
                                         
Diluted EPS       $ 1.17         $ 1.68         $ 2.63         $ 3.82          
Adjusted EPS (1)       $ 1.58         $ 1.90         $ 3.18         $ 4.41          
                                         
Average Diluted Shares (in thousands)       74,093         73,835         74,093         73,842          
     

(1)

  

For a better understanding of the Company's adjusted results, refer to the reconciliation of non-GAAP adjustments in the accompanying financial tables in this press release.
     

“We delivered sales growth and continued to close the comp sales performance gap versus the industry in Q2 while more than doubling year to date Free Cash Flow. Our revised guidance for the year incorporates the impact of industry headwinds in the first half, which we expect to continue in the second half of the year and we are taking the appropriate actions to adapt to this environment. We’ve now assembled a world class leadership team that is executing our transformation plan to significantly drive growth and long term shareholder value,” said Tom Greco, President and Chief Executive Officer.

Second Quarter 2017 Highlights

Total sales for second quarter came in at $2.26 Billion, a 0.3% increase vs. the prior year period. Comparable store sales for the quarter were flat.

The Company's Gross Profit margin decreased 91 basis points year over year to 43.9%. The decline was primarily driven by the non-cash accounting impact of the planned inventory reduction as well as the increase in supply chain costs, unfavorable mix and commodity headwinds. These factors were partially offset by the Company’s efforts to drive favorable material cost performance. The non-cash accounting impact of the year over year inventory reduction was 26 basis points in Q2. Excluding the non-cash accounting impact of the inventory reduction, the Company’s Gross Profit margin decreased 65 basis points year over year.

The Company has purchased inventory at higher costs in the past, which are reflected in the balance sheet on a LIFO basis. In addition, under accounting rules certain supply chain costs associated with inventory have been capitalized. As the Company reduced the inventory, these costs moved from the balance sheet and generated a non-cash negative impact to gross margin. As we continue to reduce inventory, it will improve cash flow, but there will continue to be a non-cash negative impact to gross margin.

Adjusted SG&A was 35.2% of sales, a 123 basis point increase year over year. The increase was primarily driven by investments in customer focused strategies. In addition, higher medical and insurance expenses and support center costs related to increased personnel costs also contributed to the increase. The Company's GAAP SG&A increased 222 basis points versus the prior year.

The Company's Adjusted Operating Income of $195.5M (8.6% margin) declined 214 basis points versus prior year, primarily driven by the declines in gross profit and SG&A factors described above. Excluding the non-cash impact of the inventory reduction the Adjusted Operating income would have been $207.3M (9.2% margin), a decline of 188 basis points on a year over year basis. On a GAAP basis, the Company's Operating Income declined 312 basis points.

Operating cash flow increased approximately 28.3% to $267.3 million through the second quarter of 2017 from $208.4 million through the second quarter of 2016. Free cash flow was $145.0 million through the second quarter of 2017 compared to $70.5 million through the second quarter of 2016 primarily driven by inventory reduction efforts.

2017 Annual Outlook

The Company provided the following update to its full fiscal year 2017 guidance:

         
New Stores       60-65 new stores
Comparable Store Sales       -3% to -1%
Adjusted Operating Income Rate       200 to 300 basis points year over year reduction
Income Tax Rate       37.5% to 38.0%
Integration & Transformation Expenses       Approximately $100 to $150 million
Capital Expenditures       Approximately $250 million
Free Cash Flow       Minimum $300 million
Diluted Share Count       Approximately 74 million shares
         

The Company expects to continue reducing inventory levels to improve cash flow, and therefore will experience the associated non-cash accounting gross margin headwinds. Excluding the non-cash impact of the year over year inventory reduction which is estimated to be 75 basis points, the year over year reduction on Adjusted Operating income rate is expected be 125 basis points to 225 basis points.

Dividend

On August 10, 2017, the Company's Board of Directors declared a regular quarterly cash dividend of $0.06 per share to be paid on October 6, 2017 to stockholders of record as of September 22, 2017.

Investor Conference Call

The Company will detail its results on a conference call scheduled to begin at 8 a.m. Eastern Time on Tuesday, August 15, 2017, which will be made available concurrently on the Company’s website, 

link hidden, please login to view
. The call is also available by dialing (877) 704-4453 or (201) 389-0920 if calling internationally. A replay of the conference call will be available on the Advance website for one year.

About Advance Auto Parts

Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. As of July 15, 2017, Advance operated 5,073 stores and 131 Worldpac branches and employed 73,000 Team Members in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. The Company also serves approximately 1,250 independently owned Carquest branded stores across these locations in addition to Mexico and the Bahamas, Turks and Caicos, British Virgin Islands and Pacific Islands. Additional information about the Company, employment opportunities, customer services, and on-line shopping for parts, accessories and other offerings can be found on the Company's website at 

link hidden, please login to view
.

Forward Looking Statements

Certain statements contained in this release are forward-looking statements, as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events or developments, and typically use words such as believe, anticipate, expect, intend, plan, forecast, outlook or estimate. These forward looking statements include, but are not limited to, key assumptions for 2017 financial performance including adjusted operating income; statements regarding expected growth and future performance of Advance Auto Parts, Inc. (AAP), including store growth, capital expenditures, comparable store sales, gross profit rate, SG&A, adjusted operating income, inventory levels, free cash flow, income tax rate, General Parts integration costs, transformation costs and adjusted operating income rate targets; expectations regarding leadership changes and their impact on the company’s strategies, opportunities and results; statements regarding enhancements to shareholder value; statements regarding strategic plans or initiatives, growth or profitability; statements regarding productivity targets; and all other statements that are not statements of historical facts. These forward-looking statements are subject to significant risks, uncertainties and assumptions, and actual future events or results may differ materially from such forward-looking statements. Such differences may result from, among other things, AAP’s ability to implement its business and growth strategy; ability to attract, develop and retain executives and other employees; changes in regulatory, social and political conditions, as well as general economic conditions; competitive pressures; demand for AAP’s products; the market for auto parts; the economy in general; inflation; consumer debt levels; the weather; business interruptions; information technology security; availability of suitable real estate; dependence on foreign suppliers; and other factors disclosed in AAP’s 10-K for the fiscal year ended December 31, 2016 and other filings made by AAP with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. AAP intends these forward-looking statements to speak only as of the time of this communication and does not undertake to update or revise them as more information becomes available.

 
Advance Auto Parts, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
                 
        July 15,
2017 		      December 31,
2016
                 

Assets

               
                 
Current assets:                
Cash and cash equivalents       $ 257,230         $ 135,178
Receivables, net       680,503         641,252
Inventories       4,293,367         4,325,868
Other current assets       95,115         70,466
Total current assets       5,326,215         5,172,764
                 
Property and equipment, net       1,431,294         1,446,340
Goodwill       993,916         990,877
Intangible assets, net       618,879         640,903
Other assets, net       67,109         64,149
        $ 8,437,413         $ 8,315,033
                 

Liabilities and Stockholders' Equity

               
                 
Current liabilities:                
Accounts payable       $ 2,937,096         $ 3,086,177
Accrued expenses       629,088         554,397
Other current liabilities       32,143         35,472
Total current liabilities       3,598,327         3,676,046
                 
Long-term debt       1,043,690         1,042,949
Deferred income taxes       438,782         454,282
Other long-term liabilities       228,337         225,564
Total stockholders' equity       3,128,277         2,916,192
        $ 8,437,413         $ 8,315,033
                       

NOTE: These preliminary condensed consolidated balance sheets have been prepared on a basis consistent with our previously prepared balance sheets filed with the Securities and Exchange Commission, but do not include the footnotes required by generally accepted accounting principles, or GAAP, for complete financial statements.

 
Advance Auto Parts, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
Twelve and Twenty-Eight Week Periods Ended
July 15, 2017 and July 16, 2016
(in thousands, except per share data)
(unaudited)
                                 
        Q2 2017       Q2 2016       YTD 2017       YTD 2016
                                 
Net sales       $ 2,263,727         $ 2,256,155         $ 5,154,565         $ 5,235,933  
Cost of sales       1,270,639         1,245,898         2,890,793         2,875,787  
Gross profit       993,088         1,010,257         2,263,772         2,360,146  
Selling, general and administrative expenses       846,377         793,573         1,937,281         1,872,463  
Operating income       146,711         216,684         326,491         487,683  
Other, net:                                
Interest expense       (13,921 )       (14,021 )       (32,351 )       (32,964 )
Other income, net       3,169         6,244         7,982         9,367  
Total other, net       (10,752 )       (7,777 )       (24,369 )       (23,597 )
Income before provision for income taxes       135,959         208,907         302,122         464,086  
Provision for income taxes       48,910         84,307         107,113         180,673  
Net income       $ 87,049         $ 124,600         $ 195,009         $ 283,413  
                                 
Basic earnings per share (a)       $ 1.18         $ 1.69         $ 2.64         $ 3.84  
Average shares outstanding (a)       73,848         73,576         73,810         73,476  
                                 
Diluted earnings per share (a)       $ 1.17         $ 1.68         $ 2.63         $ 3.82  
Average diluted shares outstanding (a)       74,093         73,835         74,093         73,842  
     

(a)

  

Average shares outstanding is calculated based on the weighted average number of shares outstanding during the quarter or year-to-date period, as applicable. At July 15, 2017 and July 16, 2016, we had 73,862 and 73,613 shares outstanding, respectively.
     

NOTE: These preliminary condensed consolidated statements of operations have been prepared on a basis consistent with our previously prepared statements of operations filed with the Securities and Exchange Commission, but do not include the footnotes required by GAAP for complete financial statements.

 
Advance Auto Parts, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
Twenty-Eight Week Periods Ended
July 15, 2017 and July 16, 2016
(in thousands)
(unaudited)
                 
        July 15,
2017 		      July 16,
2016
                 
Cash flows from operating activities:                
Net income       $ 195,009         $ 283,413  
Depreciation and amortization       135,200         139,265  
Share-based compensation       19,938         9,142  
(Benefit) provision for deferred income taxes       (16,006 )       11,454  
Other non-cash adjustments to net income       6,212         1,012  
Net change in:                
Receivables, net       (37,012 )       (57,241 )
Inventories       41,923         (236,403 )
Accounts payable       (153,750 )       11,611  
Accrued expenses       91,333         51,488  
Other assets and liabilities       (15,498 )       (5,301 )
Net cash provided by operating activities       267,349         208,440  
                 
Cash flows from investing activities:                
Purchases of property and equipment       (122,364 )       (137,920 )
Proceeds from sales of property and equipment       1,311         1,293  
Other, net       20         (2,430 )
Net cash used in investing activities       (121,033 )       (139,057 )
                 
Cash flows from financing activities:                
(Decrease) increase in bank overdrafts       (4,202 )       13,656  
Net borrowings (payments) on credit facilities       —         (34,500 )
Dividends paid       (13,363 )       (13,291 )
Proceeds from the issuance of common stock       2,281         2,222  
Tax withholdings related to the exercise of stock appreciation rights       (6,230 )       (12,489 )
Repurchase of common stock       (3,303 )       (12,179 )
Other, net       (2,027 )       (224 )
Net cash used in financing activities       (26,844 )       (56,805 )
                 
Effect of exchange rate changes on cash       2,580         1,467  
                 
Net increase in cash and cash equivalents       122,052         14,045  
Cash and cash equivalents, beginning of period       135,178         90,782  
Cash and cash equivalents, end of period       $ 257,230         $ 104,827  
                         

NOTE: These preliminary condensed consolidated statements of cash flows have been prepared on a consistent basis with previously prepared statements of cash flows filed with the Securities and Exchange Commission, but do not include the footnotes required by GAAP for complete financial statements. The Company retrospectively adopted ASU 2016-09 in the first quarter of 2017, which resulted in a reclassification of $15,535 of excess tax benefits related to share-based compensation from financing activities to operating activities in the comparable period of last year.

Reconciliation of Non-GAAP Financial Measures

The Company's financial results include certain financial measures not derived in accordance with generally accepted accounting principles (“GAAP”). Non-GAAP financial measures should not be used as a substitute for GAAP financial measures, or considered in isolation, for the purpose of analyzing our operating performance, financial position or cash flows. However, the Company has presented these non-GAAP financial measures as management believes that the presentation of its financial results that exclude non-cash charges related to the acquired General Parts intangibles and non-operational expenses associated with i) the integration of General Parts, ii) store closure and consolidation costs and iii) transformation expenses under our strategic business plan is useful and indicative of its base operations because the expenses vary from period to period in terms of size, nature and significance and relate to the integration of General Parts and store closure activity in excess of historical levels. These measures assist in comparing the Company's current operating results with past periods and with the operational performance of other peer companies in its industry. The disclosure of these measures allows investors to evaluate the Company’s performance using the same measures management uses in developing internal budgets and forecasts and in evaluating management’s compensation. Included below is a description of the expenses the Company has determined are not normal, recurring cash operating expenses necessary to operate the Company’s business and the rationale for why providing these measures is useful to investors as a supplement to the GAAP measures.

General Parts Integration Expenses - As disclosed in the Company’s filings with the Securities and Exchange Commission, the Company acquired General Parts International, Inc. (“General Parts”) for $2.08 billion on January 2, 2014 and is in the midst of a multi-year integration plan to integrate the operations of General Parts with Advance Auto Parts. This includes the integration of product brands and assortments, supply chain and information technology. The integration is being completed in phases and the nature and timing of expenses will vary from quarter to quarter over several years. The integration of product brands and assortments was primarily completed in 2015 and the focus shifted to integrating the supply chain and information technology systems. Due to the size of the acquisition, the Company considers these expenses to be outside of its base business. Therefore, the Company believes providing additional information in the form of non-GAAP measures that exclude these costs is beneficial to the users of its financial statements in evaluating the operating performance of the base business and its sustainability once the integration is completed.

Store Closure and Consolidation Expenses - Store closure and consolidation expenses consist of expenses associated with the Company’s plans to convert and consolidate the Carquest stores acquired from General Parts. The conversion and consolidation of the Carquest stores is a multi-year process that began in 2014. As of July 15, 2017, 719 Carquest stores acquired from General Parts had been consolidated into existing Advance Auto Parts stores format. While periodic store closures are common, these closures represent a major program outside of the Company’s typical market evaluation process. The Company believes it is useful to provide additional non-GAAP measures that exclude these costs to provide investors greater comparability of its base business and core operating performance. The Company also continues to have store closures that occur as part of its normal market evaluation process and has not excluded the expenses associated with these store closures in computing the Company’s non-GAAP measures.

Transformation Expenses - The Company expects to incur a significant amount of expenses over the next several years as it transitions from its integration plan to a transformation plan that involves a complete transformation and integration of the entire company. During the second quarter, the Company completed a significant restructuring of its field structure and streamlined other support center functions to better position the Company to deliver on its growth and profitability priorities. The Company recognized severance and other costs in the second quarter related to these actions. In addition, the Company incurred professional services for assistance in its strategic business plan efforts, including its productivity agenda that the Company expects to start producing significant savings in the second half of 2017.

The Company has included a reconciliation of this information to the most comparable GAAP measures in the following tables.

                       

Reconciliation of Adjusted Net Income and Adjusted EPS:

                       
        Twelve Week Periods Ended

(in thousands, except per share data)

      Twenty-Eight Week Periods Ended

(in thousands, except per share data)

        July 15,
2017 		    July 16,
2016 		      July 15,
2017 		    July 16,
2016
Net income (GAAP)       $ 87,049       $ 124,600         $ 195,009       $ 283,413  
SG&A adjustments:                            
GPI integration and store consolidation costs       6,919       17,002           19,783         48,355  
GPI amortization of acquired intangible assets       9,124       9,459           21,403         22,121  
Transformation expenses       32,753       —           32,753         —  
Other income adjustment (a)       (502 )     —           (8,878 )       —  
Provision for income taxes on adjustments (b)       (18,351 )     (10,055 )         (24,723 )       (26,781 )
Adjusted net income (Non-GAAP)       $ 116,992       $ 141,006         $ 235,347       $ 327,108  
                             
Diluted earnings per share (GAAP)       $ 1.17       $ 1.68         $ 2.63       $ 3.82  
Adjustments, net of tax       0.41       0.22           0.55         0.59  
Adjusted EPS (Non-GAAP)       $ 1.58       $ 1.90         $ 3.18       $ 4.41  
                       

Reconciliation of Adjusted Selling, General and Administrative Expenses:

                       
        Twelve Week Periods Ended

(in thousands)

      Twenty-Eight Week Periods Ended

(in thousands)

        July 15,
2017 		    July 16,
2016 		      July 15,
2017 		    July 16,
2016
SG&A (GAAP)       $ 846,377       $ 793,573         $ 1,937,281       $ 1,872,463  
SG&A adjustments       (48,795 )     (26,461 )         (73,939 )       (70,476 )
Adjusted SG&A (Non-GAAP)       $ 797,582       $ 767,112         $ 1,863,342       $ 1,801,987  
                       

Reconciliation of Adjusted Operating Income:

                       
        Twelve Week Periods Ended

(in thousands)

      Twenty-Eight Week Periods Ended

(in thousands)

        July 15,
2017 		    July 16,
2016 		      July 15,
2017 		    July 16,
2016
Operating income (GAAP)       $ 146,711       $ 216,684         $ 326,491       $ 487,683  
SG&A adjustments       48,795       26,461           73,939         70,476  
Adjusted operating income (Non-GAAP)       $ 195,506       $ 243,145         $ 400,430       $ 558,159  
     

(a)

  

The adjustment to Other income for the twelve and twenty-eight weeks ended July 15, 2017 relates to income recognized from an indemnification agreement associated with the acquisition of General Parts.

(b)

  

The income tax impact of non-GAAP adjustments is calculated using the estimated tax rate in effect for the respective non-GAAP adjustments.
               

Reconciliation of Free Cash Flow:

             
        Twenty-Eight Week Periods Ended
        July 15,
2017 		    July 16,
2016
Cash flows from operating activities       $ 267,349       $ 208,440  
Purchases of property and equipment       (122,364 )     (137,920 )
Free cash flow       $ 144,985       $ 70,520  
                       

NOTE: Management uses free cash flow as a measure of our liquidity and believes it is a useful indicator to stockholders of our ability to implement our growth strategies and service our debt. Free cash flow is a non-GAAP measure and should be considered in addition to, but not as a substitute for, information contained in our condensed consolidated statement of cash flows.

                 

Adjusted Debt to Adjusted EBITDAR:

               
(In thousands, except adjusted debt to adjusted EBITDAR ratio)       Four Quarters Ended
        July 15,
2017 		      December 31,
2016
Total debt       $ 1,044,108         $ 1,043,255
Add: Capitalized lease obligation (Rent expense * 6)       3,246,204         3,221,202
Adjusted debt       4,290,312         4,264,457
                 
Operating income       626,406         787,598
Add: Adjustments (a)       77,009         72,828
Depreciation and amortization       254,332         258,387
Adjusted EBITDA       957,747         1,118,813
Rent expense (less favorable lease amortization of $2,732 and $3,498, respectively)       541,034         536,867
Adjusted EBITDAR       $ 1,498,781         $ 1,655,680
                 
Adjusted Debt to Adjusted EBITDAR       2.9         2.6
     
(a)   The adjustments to the four quarters ended July 15, 2017 include General Parts integration, store consolidation costs and transformation expenses of $77.0 million. The adjustments to Fiscal 2016 include General Parts integration and store consolidation costs of $72.8 million.
     

NOTE: Management believes its Adjusted Debt to Adjusted EBITDAR ratio (“leverage ratio”) is a key financial metric for debt securities, as reviewed by rating agencies, and believes its debt levels are best analyzed using this measure. The Company’s goal is to maintain a 2.5 times leverage ratio and investment grade rating. The Company's credit rating directly impacts the interest rates on borrowings under its existing credit facility and could impact the Company's ability to obtain additional funding. If the Company was unable to maintain its investment grade rating this could negatively impact future performance and limit growth opportunities. Similar measures are utilized in the calculation of the financial covenants and ratios contained in the Company's financing arrangements. The leverage ratio calculated by the Company is a non-GAAP measure and should not be considered a substitute for debt to net earnings, net earnings or debt as determined in accordance with GAAP. The Company adjusts the calculation to remove rent expense and capitalize the Company’s existing operating leases to provide a more meaningful comparison with the Company’s peers and to account for differences in debt structures and leasing arrangements. The use of a multiple of rent expense to calculate the adjustment for capitalized operating lease obligations is a commonly used method of estimating the debt the Company would record for its leases that are classified as operating if they had met the criteria for a capital lease or the Company had purchased the property. The Company’s calculation of its leverage ratio might not be calculated in the same manner as, and thus might not be comparable to, similarly titled measures by other companies.

Store Information:

As of July 15, 2017, the Company operated 5,073 stores and 131 Worldpac branches and served approximately 1,250 independently owned Carquest stores. The below table summarizes the changes in the number of the company-operated stores and branches during the twelve and twenty-eight weeks ended July 15, 2017.

                                         
        AAP       AI       CARQUEST       WORLDPAC       Total
                                                             
April 22, 2017           4,312                 182             565         130           5,189    
New           13                 4             3         1           21    
Closed           (1 )               —             (2 )       —           (3 )  
Consolidated           —                 —             (3 )       —           (3 )  
Converted           57                 —             (57 )       —           —    
July 15, 2017           4,381                 186             506         131           5,204    
                                                             
December 31, 2016           4,273                 181             608         127           5,189    
New           21                 5             6         4           36    
Closed           (5 )               —             (4 )       —           (9 )  
Consolidated           (3 )               —             (9 )       —           (12 )  
Converted           95                 —             (95 )       —           —    
July 15, 2017           4,381                 186             506         131           5,204    

 

CT?id=bwnews&sty=20170815005367r1&sid=ac

View source version on businesswire.com: 

link hidden, please login to view

Source: Advance Auto Parts, Inc.

Advance Auto Parts, Inc.
Media Contact
Laurie Stacy, 540-561-1206
[email protected]
or
Investor Relations Contact
Prabhakar Vaidyanathan, 919-227-5466
[email protected]

Source: 

link hidden, please login to view

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing

  • Similar Topics

    • Counterman
      Auto Value and Bumper to Bumper Award $25,000 in Scholarships 
      By Counterman
      link hidden, please login to view and  link hidden, please login to view, in collaboration with the link hidden, please login to view, announced a new round of 25 scholarship winners for the 2024 scholarship season. Recipients are selected from a competitive pool of student applicants from across North America with goals of completing their secondary education.  This year’s scholarship recipients, and their respective warehouse distributor include: 
      Sarah Crecelius, Rio Vista, Texas: 4M Parts Warehouse Madison Gray-Pirsak, Regina, Saskatchewan; Auto Electric Carter Thomas, Tisdale, Saskatchewan; Auto Electric Zachary Burg, Saint Cloud, Minnesota; Automotive Parts Headquarters Ryan Hiebner, Henderson, Nebraska; Automotive Parts Headquarters Cohen Palmer, Bison, South Dakota; Automotive Parts Headquarters Joshua Tangen, Roseau, Minnesota, Automotive Parts Headquarters Yiannis Logothetis, Lake Mills, Wisconsin; Auto-Wares Group of Companies Oscar Reyes, North Chicago, Illinois; Auto-Wares Group of Companies Jarod Wright, Manistee, Michigan; Auto-Wares Group of Companies Joseph Rakowski, Southampton, Pennsylvania; Eastern Automotive Katelynn Baker, Lowville, New York; Hahn Automotive William Baxter, Honeoye Falls, New York; Hahn Automotive Lindzy Dolder, Lizton, Indiana; Hahn Automotive Frankie Giocastro, Oceanport, New Jersey; Hahn Automotive Matthew Keplar, Norfolk, Virginia; Hahn Automotive Alexandra Skidmore, Starrucca, Pennsylvania; Hahn Automotive Sean Vazquez, Granada, Colorado; Jobbers Automotive Madison Long, Greenfield, Iowa; Merrill Co. Brock Tiernan, Woodward, Iowa; Merrill Co. Zackery Beshears, Greenwood, Arkansas; Parts Warehouse Inc. William Crews, Maumelle, Arkansas, Parts Warehouse Inc. Madeline Ezell, Hopkinsville, Kentucky, Parts Warehouse Inc.  Maddox Lapp, Many, Louisiana; Parts Warehouse Inc. David Reed, Dover, Arkansas; Parts Warehouse Inc. “2024 was yet another outstanding year, with a pool of highly qualified and competitive applicants for these scholarships. It brings our team so much excitement to see students thrive and pursue a higher education. The Alliance team looks forward to supporting the University of the Aftermarket Foundation every year with their scholarship program,” said Laurel Lopez, marketing & events coordinator for Aftermarket Auto Parts Alliance, Inc, program headquarters for Auto Value and Bumper to Bumper. “Congratulations to all our Auto Value and Bumper to Bumper Scholarship Recipients! We are proud and excited to see what the future holds for you.”
      All affiliated Auto Value and Bumper to Bumper candidates completed a comprehensive application that included essay prompts, short answers, letters of recommendation, transcripts, and more. An industry panel of judges reviewed and ranked the applicants based on their merits following established guidelines along with oversight and administration from the University of the Aftermarket Foundation. Candidates were also required to verify they were employees or children of employees at an Auto Value, Bumper to Bumper, or Confidence Plus location. 

      Since the Alliance scholarship program was developed in 2001, it has awarded almost $600,000 in scholarships to deserving students. The annual program encourages continuing education within the membership and supports the next workforce generation in achieving their educational goals.
      The post
      link hidden, please login to view appeared first on link hidden, please login to view.
      link hidden, please login to view
    • GreenGears Auto Limited
      Digital Retailing in the Auto Parts and Automobile Market: A Paradigm Shift
      By GreenGears Auto Limited
      The automotive industry is undergoing a seismic transformation driven by technological advancements and changing consumer behavior. One of the most significant shifts is the rapid adoption of digital retailing in both the auto parts and automobile markets. This revolution is changing the way consumers research, shop for, and purchase vehicles and auto parts, presenting both challenges and opportunities for businesses in the industry.
      This comprehensive article explores the multifaceted landscape of digital retailing in the automotive sector, encompassing the auto parts and automobile markets. We'll delve into the factors driving this trend, the various technologies and strategies involved, the benefits and challenges it presents, and the future outlook for digital retailing in the automotive world.
      The Rise of Digital Retailing in the Automotive Industry
      The automotive industry, traditionally reliant on brick-and-mortar dealerships and physical stores, is experiencing a paradigm shift with the increasing prevalence of digital retailing. Several factors have contributed to this transformation:
      Changing Consumer Behavior: Today's consumers are more digitally savvy and connected than ever before. They expect convenience, transparency, and personalized experiences when shopping for any product or service, including cars and auto parts.
      Technological Advancements: The rapid development of technologies like e-commerce platforms, mobile apps, virtual reality (VR), and augmented reality (AR) has enabled businesses to create immersive and interactive digital shopping experiences.
      The COVID-19 Pandemic: The pandemic accelerated the adoption of digital retailing as consumers sought contactless and safe ways to shop for cars and auto parts.
      Increased Competition: The automotive industry is becoming increasingly competitive, with new players entering the market and disrupting traditional business models. Digital retailing offers a way for businesses to differentiate themselves and provide a superior customer experience.
      Digital Retailing in the Auto Parts Market
      The auto parts market has witnessed a significant surge in digital retailing in recent years. Consumers are increasingly turning to online platforms to research, compare prices, and purchase auto parts. This trend is fueled by several factors:
      Convenience: Online shopping offers unparalleled convenience, allowing consumers to browse and purchase parts from the comfort of their homes or on the go. Wider Selection: Online retailers typically offer a much wider selection of parts than brick-and-mortar stores, providing access to a vast inventory of both new and used parts. Price Transparency: Online platforms make it easy to compare prices from different sellers, ensuring consumers get the best deals. Detailed Information: Online listings often include detailed product descriptions, specifications, images, and customer reviews, helping consumers make informed decisions. Key Digital Retailing Strategies in the Auto Parts Market
      E-commerce Platforms: Auto parts retailers are leveraging e-commerce platforms like Shopify, Magento, and WooCommerce to create online stores where customers can browse and purchase parts. Mobile Apps: Mobile apps provide a convenient way for customers to shop for parts on their smartphones or tablets. Inventory Management Systems: Robust inventory management systems ensure accurate product availability information and efficient order fulfillment. Search Engine Optimization (SEO) and Pay-Per-Click (PPC) Advertising: These digital marketing strategies help auto parts retailers attract more traffic to their online stores and increase sales. Social Media Marketing: Social media platforms provide a valuable channel for engaging with customers, building brand awareness, and promoting products. Customer Relationship Management (CRM) Systems: CRM systems help businesses manage customer interactions and provide personalized experiences. Challenges and Opportunities in Auto Parts Digital Retailing
      Competition: The online auto parts market is highly competitive, with numerous players vying for customers' attention. Retailers need to differentiate themselves through superior product selection, pricing, customer service, and user experience. Logistics and Fulfillment: Efficient logistics and fulfillment are critical for success in online auto parts retailing. Businesses need to ensure timely delivery and hassle-free returns to maintain customer satisfaction. Trust and Authenticity: Building trust and ensuring the authenticity of used parts is crucial in the online marketplace. GreenGears Auto Limited addresses this by providing detailed product descriptions, images, and certifications, along with a robust warranty program. Digital Retailing in the Automobile Market
      The automobile market is also undergoing a digital transformation, with consumers increasingly relying on online platforms for their car-buying journey. This trend is particularly evident in the used car market, where online platforms like Carvana and Vroom have gained significant popularity.
      Key Digital Retailing Strategies in the Automobile Market
      Virtual Showrooms: Virtual showrooms allow customers to explore vehicles in 3D, view interior and exterior details, and even take virtual test drives. Online Financing and Trade-Ins: Digital platforms offer streamlined financing and trade-in options, simplifying the car-buying process. Home Delivery: Many online car retailers offer home delivery, allowing customers to purchase a car without ever visiting a dealership. Benefits of Digital Retailing in the Automobile Market
      Convenience: Online car buying eliminates the need for time-consuming dealership visits, offering a more convenient and efficient experience. Transparency: Online platforms provide access to detailed vehicle information, pricing, and reviews, empowering consumers to make informed decisions. Competitive Pricing: Online retailers often offer lower prices due to reduced overhead costs. Wider Selection: Online platforms offer a wider selection of vehicles than traditional dealerships, making it easier to find the perfect car. Challenges and Opportunities in Automobile Digital Retailing
      Trust and Transparency: Building trust is essential in the online car-buying process. Retailers need to provide transparent information about vehicles, pricing, and warranties. Test Drives: While virtual test drives are becoming more sophisticated, many consumers still prefer to physically test drive a car before purchasing it. Customer Service: Providing excellent customer service is crucial for online car retailers to build loyalty and overcome any hesitation about buying a car online. The Future of Digital Retailing in the Automotive Industry
      The future of digital retailing in the automotive industry is bright. As technology continues to advance and consumer behavior evolves, we can expect even greater adoption of digital channels for both auto parts and automobile purchases.
      Emerging Trends:
      Artificial Intelligence (AI) and Machine Learning: AI and machine learning will play an increasingly important role in personalizing the digital shopping experience, providing recommendations, and automating various aspects of the sales process. Augmented Reality (AR) and Virtual Reality (VR): AR and VR technologies will further enhance the online shopping experience by allowing customers to visualize parts and vehicles in their own environment. Blockchain: Blockchain technology can be used to create secure and transparent transactions, enhancing trust and confidence in the online marketplace. Conclusion
      Digital retailing is transforming the auto parts and automobile markets, offering consumers greater convenience, transparency, and choice. While challenges remain, the opportunities for businesses that embrace digital technologies are immense.
      GreenGears Auto Limited (
      link hidden, please login to view) exemplifies the successful implementation of digital retailing in the used auto parts market. By offering a user-friendly online platform, a vast selection of quality-tested parts, and exceptional customer service, GreenGears Auto Limited has established itself as a leader in the industry. As the automotive industry continues its digital evolution, businesses that adapt and innovate will be well-positioned to thrive in the years to come.
    • GreenGears Auto Limited
      Why Buying Used Toyota Parts is a Smart Choice: A Comprehensive Guide
      By GreenGears Auto Limited
      In the world of automotive repairs and maintenance, a critical decision car owners face is whether to opt for new or used parts. While new parts offer the allure of pristine condition, used parts present a compelling alternative, especially when it comes to a reliable brand like Toyota. This comprehensive guide delves into the numerous benefits of choosing used Toyota parts, focusing specifically on subframes, transfer cases, and ABS pumps. Furthermore, it highlights GreenGears Auto Limited (
      link hidden, please login to view) as the premier destination for sourcing high-quality used Toyota parts. The Economic Advantage: Cost Savings
      The most compelling reason to consider used Toyota parts is their significant cost advantage compared to their brand-new counterparts. New parts, especially for complex components like subframes, transfer cases, and ABS pumps, can be exorbitantly expensive. For budget-conscious car owners or those with older vehicles, the cost of new parts can often be prohibitive.
      Used parts, on the other hand, offer substantial savings without compromising on quality or performance. At GreenGears Auto Limited, you'll find a wide selection of used Toyota parts meticulously inspected and priced competitively. This allows you to significantly reduce repair costs and keep your Toyota running smoothly without breaking the bank.
      Table 1: Cost Comparison of New vs. Used Toyota Parts
      Part New Price (USD) Used Price (USD) Savings Subframe 1500-2500 200-1000 50-75% Transfer Case 2000-3500 400-1500 40-60% ABS Pump 800-1200 100-500 40-60% Note: Prices may vary depending on the specific model and year of your Toyota vehicle.
      As the table illustrates, the cost savings from choosing used parts can be substantial, ranging from 40% to 75%. This makes used parts an attractive option for those looking to save money on repairs and maintenance.
      Environmental Responsibility: Reducing Waste and Carbon Footprint
      In an era of growing environmental awareness, choosing used parts is a responsible choice. The production of new automotive components requires significant energy and resources, contributing to pollution and greenhouse gas emissions. Opting for used parts helps to reduce the demand for new manufacturing and promotes a more sustainable approach to car repairs.
      By choosing GreenGears Auto Limited, you actively participate in the circular economy, extending the lifespan of valuable resources and minimizing waste. Reusing and repurposing existing parts help to conserve raw materials, reduce energy consumption, and decrease the carbon footprint associated with the automotive industry.
      OEM Quality and Reliability: The Toyota Legacy
      Toyota has earned a reputation for producing durable and long-lasting vehicles. This longevity is a testament to the quality and reliability of their parts, even when used. Unlike aftermarket alternatives, which may compromise on quality to offer lower prices, used Toyota parts retain their original equipment manufacturer (OEM) standards.
      GreenGears Auto Limited understands the importance of quality and reliability. All their used Toyota parts undergo rigorous testing and inspection to ensure they meet the highest standards. This commitment to quality gives you peace of mind knowing that your vehicle is equipped with genuine Toyota components that are built to last.
      Wide Selection and Availability: Catering to All Toyota Models
      Whether you own a popular Corolla, a rugged Tacoma, or a classic Land Cruiser, GreenGears Auto Limited boasts an extensive inventory of used Toyota parts to cater to various models and years. Their online catalog makes it easy to search for the specific part you need, and their knowledgeable staff is always ready to assist you in finding the right fit for your vehicle.
      Even for rare or discontinued models, GreenGears Auto Limited can often source hard-to-find parts, ensuring that you can keep your Toyota running smoothly, regardless of its age or model.
      Supporting Local Businesses: Community and Sustainability
      Choosing GreenGears Auto Limited means supporting a local business that is dedicated to providing exceptional service and contributing to the community. By sourcing used parts from them, you contribute to the local economy and foster sustainable practices within the automotive industry.
      GreenGears Auto Limited takes pride in its commitment to customer satisfaction and environmental responsibility. Their passion for providing quality used parts at affordable prices makes them a trusted partner for all your Toyota repair and maintenance needs.
      The Specific Benefits of Used Subframes, Transfer Cases, and ABS Pumps
      Now let's delve deeper into the specific advantages of choosing used subframes, transfer cases, and ABS pumps from GreenGears Auto Limited.
      Subframes
      Cost Savings: New subframes can be incredibly expensive, often costing thousands of dollars. Used subframes from GreenGears Auto Limited offer significant savings, allowing you to repair your vehicle's structural integrity without breaking the bank. OEM Quality: Toyota subframes are designed and manufactured to exacting standards, ensuring durability and longevity. Even used subframes retain their structural integrity and can provide years of reliable service. Availability: GreenGears Auto Limited maintains a wide selection of used subframes for various Toyota models, making it easy to find the right fit for your vehicle. Environmental Impact: Choosing a used subframe helps to reduce the demand for new manufacturing and the associated environmental impact. Transfer Cases
      Cost-Effectiveness: New transfer cases can be a major expense, especially for four-wheel-drive or all-wheel-drive vehicles. Used transfer cases from GreenGears Auto Limited offer a cost-effective alternative, allowing you to restore your vehicle's off-road capabilities without a hefty price tag. Reliability: Toyota transfer cases are known for their robustness and reliability. Even used transfer cases, when properly inspected and tested, can provide years of dependable service. Performance: A used transfer case from GreenGears Auto Limited can restore your vehicle's original performance, ensuring smooth power distribution to all wheels. Reduced Environmental Impact: Choosing a used transfer case helps to conserve resources and reduce waste. ABS Pumps
      Affordability: New ABS pumps can be costly, but used ABS pumps from GreenGears Auto Limited offer a budget-friendly solution to restore your vehicle's braking system. Safety: A functioning ABS pump is crucial for safe braking, especially in emergency situations. Used ABS pumps from GreenGears Auto Limited are thoroughly tested to ensure they meet safety standards. Availability: GreenGears Auto Limited offers a wide selection of used ABS pumps for various Toyota models, ensuring you can find the right part for your vehicle. Eco-Friendliness: Choosing a used ABS pump helps to reduce the environmental impact associated with manufacturing new parts. GreenGears Auto Limited: Your One-Stop Shop for Used Toyota Parts
      GreenGears Auto Limited (
      link hidden, please login to view) is your trusted source for high-quality used Toyota parts. Our commitment to quality, affordability, and sustainability sets them apart. Extensive Inventory: GreenGears Auto Limited boasts a vast inventory of used Toyota parts, including subframes, transfer cases, ABS pumps, and much more. Our online catalog makes it easy to find the specific part you need. Rigorous Testing: All used parts undergo thorough inspection and testing to ensure their functionality and reliability. Expert Knowledge: The knowledgeable staff at GreenGears Auto Limited can assist you in finding the right part for your Toyota model and year. Fast Shipping: GreenGears Auto Limited offers free, fast and reliable shipping, ensuring you get your parts quickly. Customer Satisfaction: We prioritize customer satisfaction and offer excellent customer service. Conclusion
      Choosing used Toyota parts from GreenGears Auto Limited offers a multitude of benefits. You can save money, reduce your environmental impact, and ensure your vehicle's reliability and performance. Whether you need a subframe, transfer case, ABS pump, or any other Toyota part, GreenGears Auto Limited is your go-to source.
      Visit our website at
      link hidden, please login to view today to explore our extensive inventory and experience the advantages of choosing used Toyota parts. Remember: By opting for used parts, you're not only making a smart financial decision but also contributing to a more sustainable future for our planet.
    • GreenGears Auto Limited
      Auto Trends in the US: A Shifting Landscape
      By GreenGears Auto Limited
      The U.S. auto market, a bellwether of the economy, is undergoing significant shifts, driven by several emerging auto trends. From the ongoing chip shortage to the rising popularity of electric vehicles (EVs), and the dominance of SUVs and trucks, these trends are shaping the future of the automotive industry and influencing consumer choices. This article takes a deep dive into these developments, highlighting key facts, figures, and market dynamics.
      Chip Shortage and Inventory Woes
      One of the most significant auto trends in recent years has been the global semiconductor chip shortage, which has severely disrupted the automotive supply chain. This shortage has led to reduced production and limited inventory at dealerships, pushing up prices for both new and used cars.
      According to Cox Automotive, new-vehicle inventory in the U.S. was at just 1.7 million units in early 2023, significantly lower than pre-pandemic levels. As of August 2024, total inventory stood at 2.91 million units, translating to roughly 68 days of supply. While this represents an improvement, the situation remains challenging, affecting consumers' ability to find and purchase vehicles at affordable prices.
      Rise of Electric Vehicles (EVs)
      The growing adoption of electric vehicles is another major auto trend transforming the U.S. market. With increasing concerns about climate change and advancements in EV technology, consumers are more frequently considering electric options.
      In 2023, EV sales in the U.S. surged by 65%, reaching nearly 800,000 units. The momentum behind this trend is expected to accelerate, with projections suggesting that EVs could account for over 50% of new car sales in the U.S. by 2030. Automakers like Tesla, Ford, and General Motors are ramping up EV production to meet the anticipated demand. Additionally, the federal government has set ambitious targets to reduce carbon emissions, offering financial incentives to further boost EV sales.
      Shift Towards SUVs and Trucks
      The preference for larger vehicles like SUVs and trucks continues to dominate the U.S. auto market, with light trucks and SUVs accounting for around 80% of all vehicles sold in recent years. In August 2024, sales of light trucks were up 8.9% year-over-year, reaching 1,115,544 units. This trend is driven by consumer demand for vehicles that offer practicality, versatility, perceived safety, and improved fuel efficiency.
      E-Commerce and Digital Retailing
      The way consumers buy cars is also evolving. The pandemic accelerated the shift towards e-commerce and digital retailing, as online car-buying platforms and virtual showrooms offered a convenient and safe alternative to traditional dealerships. While the majority of car purchases still happen in person, online sales are steadily growing, and industry experts predict that digital retailing will play an increasingly important role in future auto sales.
      Subscription Services
      Car subscription services represent another emerging trend disrupting the traditional vehicle ownership model. These services offer consumers the flexibility to access a variety of vehicles for a monthly fee, without the long-term commitment of ownership or leasing. Although still in its early stages, this model has the potential to reshape the way people think about accessing and using cars in the future.
      Technological and Regulatory Trends
      Beyond market trends, technological advancements and regulatory shifts are influencing the auto industry. Autonomous driving, connected vehicles, and advancements in battery technology are reshaping consumer expectations. Additionally, the federal government’s push for 50% EV sales by 2030 and stricter emissions regulations are accelerating the industry's pivot toward electric mobility.
      Key Facts and Figures
      Category Fact/Figure Year New Vehicle Inventory 1.7 million units Early 2023   2.91 million units (68 days of supply) August 2024 EV Sales Growth 65% increase 2023 Total EV Sales Nearly 800,000 units 2023 Projected EV Market Share Over 50% of new car sales By 2030 SUVs/Trucks Sales Share 80% of total vehicle sales Recent years Light Truck Sales Growth 8.9% year-over-year growth, 1,115,544 units sold August 2024 Average New Car Monthly Payment $700 Late 2022 Used Car Sales 40.6 million units 2021 Projected Autonomous Vehicle Market Over $60 billion By 2030 Public EV Charging Stations 46,000 stations 2021 Average EV Range 234 miles per charge 2022 Subscription Service Growth Emerging, disrupting traditional ownership Ongoing The Road Ahead: Navigating a Shifting Landscape
      The U.S. auto market is in a state of flux, with several auto trends shaping its future. The semiconductor chip shortage continues to impact production, inventory, and prices, while the rise of electric vehicles and the preference for SUVs and trucks are influencing consumer purchasing behavior. Meanwhile, the growing popularity of e-commerce, digital retailing, and subscription services is transforming how cars are bought and accessed.
      As these auto trends continue to evolve, the automotive industry must innovate and adapt to meet shifting consumer expectations. From automakers to dealerships and used car businesses like GreenGears Auto Limited, staying ahead of these trends will be crucial for thriving in the years to come. The road ahead will be defined by technological advancements, regulatory pressures, and changing consumer preferences, offering both challenges and opportunities for the U.S. auto industry.
       
      www.GreenGearsAuto.com
    • Brake & Suspension Clearance Event
    • GreenGears Auto Limited
      Unlocking Savings and Sustainability: Used Toyota Parts from GreenGears Auto Limited
      By GreenGears Auto Limited
      n the world of automotive repairs and maintenance, the choice between new and used parts can often be a dilemma for vehicle owners. While new parts offer the allure of pristine condition, used parts present a compelling alternative, especially when it comes to a reliable brand like Toyota. GreenGears Auto Limited, a leading provider of used auto parts, specializes in offering a wide selection of quality-tested Toyota components that combine affordability, sustainability, and performance.
      The Benefits of Choosing Used Toyota Parts
      1. Cost-Effectiveness:
      The most apparent advantage of used Toyota parts is their significantly lower cost compared to brand-new counterparts. This affordability allows car owners to save substantially on repairs and maintenance, especially for older vehicles or those with high mileage. With GreenGears Auto Limited, you gain access to a vast inventory of used Toyota parts that are meticulously inspected and priced competitively, ensuring you get the best value for your money.
      2. Environmental Friendliness:
      Opting for used parts contributes to a greener planet by reducing the demand for new manufacturing and the associated environmental impact. By choosing GreenGears Auto Limited, you actively participate in the circular economy, promoting resource conservation and minimizing waste. Reusing and repurposing existing parts helps to decrease the carbon footprint of the automotive industry and contributes to a more sustainable future.
      3. OEM Quality and Reliability:
      Toyota is renowned for its durable and long-lasting vehicles, and their parts are no exception. Even used Toyota parts retain their inherent quality and reliability, often outlasting aftermarket alternatives. GreenGears Auto Limited ensures that all their used Toyota parts undergo rigorous testing to guarantee their functionality and performance. This commitment to quality gives you peace of mind knowing that your vehicle is equipped with genuine Toyota components that meet the highest standards.
      4. Wide Selection and Availability:
      Whether you need a replacement engine, transmission, body panel, or any other component, GreenGears Auto Limited boasts an extensive inventory of used Toyota parts to cater to various models and years. Their online catalog and knowledgeable staff make it easy to find the specific part you need, even for rare or discontinued models. This vast selection ensures that you can keep your Toyota running smoothly without compromising on quality or breaking the bank.
      5. Supporting Local Businesses:
      Choosing GreenGears Auto Limited means supporting a local business that is dedicated to providing exceptional service and contributing to the community. By sourcing used parts from them, you contribute to the local economy and foster sustainable practices within the automotive industry. Their commitment to customer satisfaction and environmental responsibility makes them a trusted partner for all your used Toyota part needs.
      GreenGears Auto Limited: Your Trusted Source for Used Toyota Parts
      With a commitment to quality, affordability, and sustainability, GreenGears Auto Limited has established itself as a reliable provider of used Toyota parts. Their extensive inventory, rigorous testing processes, and knowledgeable staff ensure that you receive the best possible parts for your vehicle.
      Whether you're a DIY enthusiast or a professional mechanic, GreenGears Auto Limited offers a convenient and cost-effective solution for all your Toyota repair and maintenance needs. By choosing used parts, you not only save money but also contribute to a greener and more sustainable future.
       
      Visit
      link hidden, please login to view today to explore their wide selection of used Toyota parts and experience the benefits of choosing a reliable and eco-conscious provider.

×
×
  • Create New...