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CARFAX Report For US & CA @ 10 USD Each
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By Counterman
Genuine Parts Co. (GPC) reported second-quarter sales of $5.9 billion, up 5.6% compared to second-quarter 2022.
GPC reported a 4.9% increase in comparable sales. A 1.8% benefit from acquisitions contributed to the quarterly results, the company noted.
Net income jumped 10% to $344 million. On a per-share diluted basis, net income was $2.44, an increase of nearly 11% compared to adjusted diluted earnings per share of $2.20 last year.
“We are pleased to report another solid quarter, which includes record sales and double-digit adjusted earnings growth,” said Paul Donahue, chairman and CEO. “Our second-quarter performance, once again, highlights the value and benefit of our global Automotive and Industrial business mix and geographic diversity, which we believe are competitive advantages that differentiate GPC in the marketplace.”
Sales for the Automotive Parts Group, which includes NAPA Auto Parts, increased 5.4% to $3.7 billion. The results include a 4.3% increase in comparable sales and a 2.6% benefit from acquisitions, according to the company.
“Global Automotive sales continue to benefit from our global diversification, as our businesses outside the U.S. posted mid-single-digit to double-digit growth in local currency in the second quarter,” said Will Stengel, president and chief operating officer.
“Our Industrial sales growth was broad based, with all product categories and major industries served growing from the prior year, allowing the Industrial team to post its 12th consecutive quarter of margin expansion. The global GPC team delivered a solid second quarter and our teams remain focused on the consistent execution of our strategic initiatives. We believe our investments in our people, customer solutions, technology, supply chain and emerging technology will continue to enhance our capabilities and leadership positions.”
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By Counterman
More than 2.5 million vehicles that have been tagged with “Do Not Drive” or “Park Outside” safety recalls remain unrepaired as of May 1, CARFAX data shows. Ten states have more than 70,000 of these vehicles driving on their roads, with California leading the way.
California: 245,000 Texas: 242,000 Florida: 237,000 New York: 118,000 Pennsylvania: 106,000 Ohio: 101,000 Georgia: 96,000 Illinois: 92,000 North Carolina: 85,000 Arizona: 71,000 “Despite efforts by state and federal governments – and the auto industry itself – too many consumers are driving in vehicles that have been deemed too dangerous to drive, or that shouldn’t be parked in or near a home for fear of a fire,” said Faisal Hasan, general manager for Data at CARFAX. “Officials and communities need to break through consumer recall notice fatigue and drive home the message: We can save lives today by getting these recalls fixed.”
“Do Not Drive” and “Park Outside” notifications are recalls issued by automakers and federal safety officials. A “Do Not Drive” recall advises drivers not to operate their vehicles because a serious safety issue could lead to an accident or physical harm. A “Park Outside” recall is issued for vehicles with a high risk of causing a fire, and owners are advised to park these vehicles outside of garages and parking structures, and away from buildings. These recalls are rarely issued.
There are about 200 separate models from various automakers, over multiple model years, for which “Do Not Drive” or “Park Outside” safety recalls have been issued.
link hidden, please login to view. Consumers can check – for free – to see if their car has any open recall at
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