With inventory for new autos limited and prices for new and used automobiles skyrocketing, demand for auto parts has risen steadily coming out of the pandemic, resulting in strong sales performance among three of the four major auto parts retailers of Auto Zone, O'Reilly, and Napa.
Brandon Svec, national director of U.S. retail analytics at CoStar Group, tells GlobeSt.com that the auto parts segment has been an outperformer for a few years running thanks to the aging fleet of light vehicles across America, the average of which recently reached an all-time high.
"With sales rising, each of these three has meaningfully contributed to the rise in demand for brick-and-mortar retail space seen over the past three years," Svec said.
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