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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 Dorman Products
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ATLANTA, Oct. 19, 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 results for the third quarter ended September 30, 2023. "Our third quarter performance was highlighted by double digit earnings growth, driven by benefits from the mix and geographic diversity of our businesses as well continued progress on our strategic initiatives," said Paul Donahue, Chairman and Chief Executive Officer. "Through our One GPC approach, we are simplifying our business while driving productivity and efficiency across our operations. We would like to thank our teams around the world for their continued dedication to serving our customers and delivering solid quarterly results."
Third Quarter 2023 Results
Sales were $5.8 billion, a 2.6% increase compared to $5.7 billion in the same period of the prior year. The growth in sales is attributable to a 0.5% increase in comparable sales, a 1.7% benefit from acquisitions and a 0.4% net favorable impact of foreign currency and other. The third quarter of 2023 had one less selling day in the U.S. compared to the third quarter of 2022, which negatively impacted third quarter sales growth by approximately 1.2%.
Net income was $351 million, an increase of 12.4% compared to net income of $312 million in the prior year. Diluted EPS was $2.49, an increase of 13.2% compared to $2.20 in the prior year period.
Net income of $351 million compares to adjusted net income of $317 million for the same three-month period of the prior year, an increase of 10.7%. On a per share diluted basis, net income was $2.49, an increase of 11.7% compared to adjusted diluted earnings per share of $2.23 last year. Refer to the reconciliation of GAAP net income to adjusted net income and GAAP diluted earnings per share and adjusted diluted earnings per share for more information.
Third Quarter 2023 Segment Highlights
Automotive Parts Group ("Automotive")
Global Automotive sales were $3.6 billion, up 3.9% from the same period in 2022, with a 0.6% increase in comparable sales, 2.4% benefit from acquisitions and a net 0.9% favorable impact of foreign currency and other. Segment profit of $322 million increased 4.1%, with segment profit margin of 8.9%, flat compared to last year. The third quarter of 2023 had one less selling day in the U.S. compared to the third quarter of 2022, which negatively impacted third quarter Global Automotive sales growth by approximately 1.0%.
Industrial Parts Group ("Industrial")
Industrial sales were $2.2 billion, up 0.6% from the same period in 2022, reflecting a 0.3% increase in comparable sales and a 0.6% benefit from acquisitions, slightly offset by a 0.3% unfavorable impact of foreign currency. Segment profit of $283 million increased 16.6%, with segment profit margin of 12.9% up 180 basis points from the same period of the prior year. The third quarter of 2023 had one less selling day in the U.S. compared to the third quarter of 2022, which negatively impacted third quarter Industrial sales growth by approximately 1.6%.
"While our Industrial and international Automotive businesses performed well during the third quarter, the results for our U.S. Automotive business were below our expectations and negatively impacted by one less selling day," said Will Stengel, President and Chief Operating Officer. "Our third quarter results reflect continued improvement in segment margins, driven by strong team operating discipline despite the slower growth environment."
Nine Months 2023 Results
Sales for the nine months ended September 30, 2023 were $17.5 billion, up 5.6% from the same period in 2022. Net income for the nine months was $1.0 billion, or $7.08 per diluted share, an increase of 8.4% compared to $6.53 per diluted share in 2022. Net income of $1.0 billion, or $7.08 per diluted share, compares to adjusted net income of $896 million, or adjusted diluted earnings per share of $6.29, in 2022, an increase of 12.6%.
Balance Sheet, Cash Flow and Capital Allocation
The company generated cash flow from operations of $1.1 billion for the first nine months of 2023. We used $473 million in cash for investing activities, including $350 million for capital expenditures and $211 million for acquisitions, net of $80 million in proceeds from the sale of our remaining investment in S.P. Richards and other investments. We also used $599 million in cash for financing activities, including $393 million for quarterly dividends paid to shareholders and $172 million for stock repurchases. Free cash flow was $733 million for the first nine months of 2023. Refer to the reconciliation of GAAP net cash provided by operating activities to free cash flow for more information.
The company ended the quarter with $2.2 billion in total liquidity, consisting of $1.5 billion availability on the revolving credit facility and $655 million in cash and cash equivalents.
The company is updating full-year 2023 guidance previously provided in its earnings release on July 20, 2023. The company considered its recent business trends and financial results, current growth plans, strategic initiatives, global economic outlook, geopolitical conflicts and the potential impact on results in updating its guidance, which is outlined in the table below.
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