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O’Reilly Automotive, Inc. Reports Second Quarter 2023 Results


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    • By Counterman
      link hidden, please login to view (SMP) announced it has reached a definitive agreement to acquire AX V Nissens III APS (Nissens), a European manufacturer and distributor of aftermarket engine cooling and air conditioning products with a growing array of vehicle control technologies. The transaction values Nissens at approximately $388 million and is expected to be completed in the second half of 2024. “We are delighted to announce this acquisition, which will make our combined business the aftermarket leader in North America and Europe in thermal management products,” said Eric Sills, Standard Motor Products’ chairman and CEO. “It will also expand SMP’s portfolio of powertrain-neutral product categories. We plan to continue operating Nissens as a stand-alone unit, while leveraging the combined strength of the two companies to realize both cost and revenue synergies.”
      In a news release announcing the acquisition, Sills added, “We believe the combination with
      link hidden, please login to viewis a powerful one. Both companies have a similar go-to-market strategy of supplying full-line professional grade product offerings, and enjoy complementary product portfolios. Meanwhile, the two companies largely operate in different geographic markets. As such, we believe that we are stronger together, capitalizing on synergies in both markets and strengthening our position in each. Together, we can accelerate growth through cross-selling our product offerings, realize cost reduction through combined resources, and achieve enhanced operational excellence though collaboration and best practices.” “We are very excited to have SMP as our new owner”, said Klavs Pedersen, Nissens’ chief executive officer. “We have been following SMP’s activities in the US, and we see a lot of similarities in the way SMP and Nissens operate in their respective focus regions. I have personally known the SMP management team for several years, and I believe there is a very strong cultural fit that will support and accelerate the positive development of both companies. We look forward to becoming part of the SMP family.”
      The transaction is subject to certain closing conditions, including receipt of applicable antitrust and other regulatory approvals.
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    • By shelitaauto
      URL: 
      link hidden, please login to view Source: Gasgoo
      In the second quarter, 
      link hidden, please login to view’s electric vehicle sales in the United States again surpassed General Motors, ranking second in the U.S. electric vehicle market sales, and is on track to close the gap with Tesla.
      Ford Mustang Mach-E; Image source: Ford
       
      In the second quarter of this year, Ford sold 23,957 electric vehicles in the United States, a 61% increase from the same period last year, when total electric vehicle sales were 14,843. Meanwhile, Ford’s sales of hybrid vehicles rose 55 percent year over year. However, sales of internal combustion engine cars were down 5 per cent year on year.
      Ford saw double-digit sales growth for several of its electric vehicles. Sales of the Ford F-150 Lightning rose 76.9% to 7,902 units. While new competitors such as the Tesla Cybertruck and the Chevrolet Silverado EV RST have all hit the U.S. market, the Ford F-150 Lightning remained the best-selling electric truck in the U.S. in the first half of the year, with 15,654 units sold.
      Second-quarter sales of the Ford Mustang Mach-E were up 46.5% year-over-year to 12,645 units. In the first half of this year, 22,234 units of the Mustang Mach-E were delivered, the best performance ever. Sales of Ford’s E-Transit electric van continued to climb in the second quarter, rising 95.5 percent to 3,410 units from a year earlier.
      In the first half of 2024, Ford sold a total of 44,189 electric vehicles in the U.S. market, up 72% from 25,709 in the same period last year.
      Ford CEO Jim Farley said the automaker is shifting to smaller, more affordable electric vehicles to close the gap with Tesla and fend off competitors like BYD worldwide. Referring to Americans’ love affair with “larger vehicles,” Farley said smaller electric vehicles are “very important to driving the decarbonisation of American society and the development of electric vehicles.”
      Ford’s surge in electric vehicle sales in the US market is enough for it to continue to overtake General Motors. In the United States, GM delivered 21,930 electric vehicles in the second quarter, compared with 38,355 in the first half of 2024.
      GM is also ramping up production by introducing new models, with electric models such as the Chevrolet Blazer, Equinox and Silverado coming to the U.S. market. While Tesla did not give specific sales figures by region, its second-quarter electric vehicle sales worldwide exceeded expectations, delivering 443,956 electric vehicles and remaining №1 in the U.S. market.
      As competition in the U.S. electric vehicle market intensifies, other competitors, including Hyundai and Kia, also set new EV sales records in the second quarter. Hyundai Motor, for example, set a new sales record with its IONIQ 5 model, which sold 18,728 units in the first half of the year. Meanwhile, sales of Kia’s first three-row electric SUV, the EV9, are also climbing.
    • By NAPA
      ATLANTA, July 2, 2024 /
      link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global distributor of automotive and industrial replacement parts, plans to release second quarter financial results on July 23, 2024. Following the release, management will host a conference call at 8:30 a.m. ET. The public may access the webcast and supplemental earnings materials on the  link hidden, please login to view. The call is also available by dialing 1-800-836-8184. A replay of the call will be available on the company's website or toll-free at 1-888-660-6345, ID 93997#, two hours after completion of the conference call. About Genuine Parts Company
      Established in 1928, Genuine Parts Company is a leading global service organization specializing in the distribution of automotive and industrial replacement parts. Our Automotive Parts Group operates across the U.S., Canada, Mexico, Australasia, France, the U.K., Ireland, Germany, Poland, the Netherlands, Belgium, Spain and Portugal, while our Industrial Parts Group serves customers in the U.S., Canada, Mexico and Australasia. We keep the world moving with a vast network of over 10,700 locations spanning 17 countries supported by more than 60,000 teammates. Learn more at  link hidden, please login to view.
      SOURCE Genuine Parts Company
      For further information: Investor contact: Timothy Walsh, (678) 934-5349, Senior Director - Investor Relations | Media contact: Heather Ross, (678) 934-5220, Vice President - Strategic Communications
      link hidden, please login to view
    • By OReilly Auto Parts
      SPRINGFIELD, Mo., July 01, 2024 (GLOBE NEWSWIRE) -- O’Reilly Automotive, Inc. (the “Company” or “O’Reilly”) (Nasdaq: ORLY), a leading retailer in the automotive aftermarket industry, announces the release date for its second quarter 2024 results as Wednesday, July 24, 2024, with a conference call to follow on Thursday, July 25, 2024.

      link hidden, please login to view
    • By Counterman
      The automotive aftermarket often celebrates its long and historic legacy—manufacturers that engineer solutions, distribution channels that crisscross the country, parts stores and repair shops that keep America moving. Today, the aftermarket is paving the foundation of a new legacy—dreaming up innovation in new and existing powertrains, leveraging digitally driven solutions and forging stronger relationships. This year’s Road to AAPEX traverses the crossroads where history meets ingenuity to drive the industry down the road toward its future legacy.
      Babcox Media’s Joe Keene, an ASE-certified technician, navigates the automotive aftermarket landscape, starting at the Crawford Museum in Cleveland, Ohio. A location rich in automotive history, the Crawford Museum displays a parallel path between early automotive designs and modern vehicles that shows off the continuous advancements that have shaped the industry.
      Meanwhile, David Sickels, Babcox Media editor, will delve into the aftermarket and the significant contributions of independent companies within the supply chain. He’ll travel the country to chart the history of the aftermarket, the key players, and the processes involved in manufacturing automotive parts.  He will interview key figures in the industry and examine the processes that bring aftermarket parts from conception to market, providing valuable insights into the operational aspects and historical development of the aftermarket sector.
      Then there’s Babcox Media’s Scott Shriber, automotive aftermarket guru, who will focus on the logistics and distribution chains that deliver parts to local technicians and repair shops. He’ll explore the history of parts distribution, tracing its growth and evolution into the complex system it is today while providing a detailed look at how distribution networks have adapted to meet increasing demand and technological advancements, ensuring parts are delivered efficiently and reliably.
      Of course, it all ends where the rubber meets the road—the hard-working automotive repairs shops that put the parts and solutions to work to get customer vehicles back on the road. Joe Keene will take us on a tour of the automotive aftermarket front line to talk with shop owners and technicians about how they’re innovating within their own businesses to keep America moving.
      Watch the video for a deeper understanding of the industry’s dynamics and the factors that drive its continuous evolution. Be sure to stay tuned for more episodes of Road to AAPEX.
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