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SMP Releases 2023 Corporate Sustainability Report
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By Counterman
link hidden, please login to viewannounced the release of a new mobile app, described by the company as a “complete overhaul designed to embrace the AI tools of the future.” Features like year/make/model lookup and application lookup, remain on the app, but the company said that information will be available with an updated interface that’s smoother, more stable, and more intuitive. The company launched its first mobile apps for auto parts catalog lookup over 15 years ago. Since then, ShowMeTheParts made consistent tweaks and updates to its original mobile app technology. Saying that incremental updates are no longer enough to stay ahead of the curve, the company released a new app, built on what it calls a “cutting-edge technology platform.”
ShowMeTheParts adds that the updated app is about more than just aesthetics. The company said the new app meets stringent requirements regarding user privacy, data security and overall app performance.
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By NAPA
ATLANTA, Oct. 1, 2024 /
link hidden, please login to view/ -- Genuine Parts Company (NYSE: GPC), a leading global service provider of automotive and industrial replacement parts and value-added solutions, plans to release third quarter financial results on October 22, 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 72988#, two hours after completion of the conference call. About Genuine Parts Company
Established in 1928, Genuine Parts Company is a leading global service provider of automotive and industrial replacement parts and value-added solutions. 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
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By Counterman
New research by the Specialty Equipment Market Association (SEMA) is shedding light on the latest trends and developments in vehicle lifecycles and providing new insights for those who provide parts for accessorizing and modifying the more than 289 million vehicles in the US.
Findings in the new
link hidden, please login to view include: Vehicles are staying on the road longer, a continuing trend. The average U.S. vehicle age is now at 12.6 years, its highest number in over a decade. Passenger cars are now an average of 14 years old (up from 13.6), while light trucks rose slightly to 11.9, from 11.8. Used-car market ticks downward but remains historically high. The average listing price of a used vehicle in the U.S. is $25,251, as of July 2024. Car values have fallen faster than that of light trucks, with the sharpest decrease in overall vehicle value found in EVs (-11%). Stabilization of new vehicle prices offset by continued climb of interest rates. The average new vehicle price sits at $48,644, down slightly from the year prior, and halting a dramatic climb that began in the beginning of 2021. However, interest rates for new and used vehicles continue to hound buyers, remaining significantly higher than those offered in 2021-2022, regardless of loan-term length. Automakers are producing fewer entry-level vehicles. While new vehicle inventory in 2024 has reached a three-and-a-half-year high, small cars and other entry-level vehicles (those priced below $20,000) make up just 0.7% of the market, compared with 7% five years ago. This lack of affordability has a profound impact on younger people, who are historically more price-sensitive than older drivers. Two decades of increasingly dependable vehicles. Since 2003, vehicles have exhibited fewer problems, highlighting a growing reliability that is a boon to consumers. However, recent years have yielded an increase in vehicle issues tied to new technology-based automotive features, including driving assistance and infotainment systems — a trend that could impact future dependability. The nation’s fleet of vehicles is growing. The past year saw the net addition of 3 million more vehicles to the roads, with crossovers (72.7 million) closing the gap with passenger cars (89.2 million) as the dominant segment of the entire fleet. However, compared to 10 years ago, vehicle registrations skew more heavily toward light trucks than cars. The specialty-equipment aftermarket continues to grow — and is expected to keep growing. Specialty equipment retail sales in 2023 surpassed $52.3 billion and are forecasted to grow to more than $57 billion by 2026. The research also reveals trends across four categories of vehicles (Classic, Aged, Core and Modern), highlighting age, popularity, usage and consumer spending habits. For accessorizing, pickups and muscle cars are the top choice for enthusiasts. Meanwhile, vehicles in the Aged category are driving spending for performance products, as a way to refresh their older vehicle. Aftermarket product spending for Modern and Core vehicles was primarily (59% and 54%) on accessory and appearance products, while 43% of spending on Classic vehicles was for performance products.
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