Advance Vehicle Areas Introduces Superfan ‘Ed Vance,’ Supplying Rising Auto Fanatics a New Voice In Escalating Class

RALEIGH, N.C.–(Small business WIRE)–Progress Car Sections (NYSE: AAP), a leading automotive aftermarket components supplier, now launched its No. 1 supporter “Ed Vance,” revolutionizing the category by symbolizing the voice of an rising section of car enthusiasts – people learning to Do it yourself and craving a husband or wife on their journey.

In Ed Vance, Progress is giving an reliable, relatable, entertaining and classification-unique bilingual voice to embody, characterize and connect with these modern DIYers, dwelling together with them in their Do it yourself journey. And his name just takes place to be like the manufacturer … Ed Vance loves Progress.

Forty % of motorists who maintain their possess cars are in between 16 and 34 many years previous. Expanding need for extra seamless and approachable auto treatment options, coupled with heightened interest from these younger, a lot more socially connected auto fans, allows Progress to be the category’s initially-mover in merging customers’ desire to be represented and discover as they “do” with a new trusted confidante – Ed Vance.

“Ed’s identify recognition will draw quick link to the Advance brand name and serve as a automobile to communicate the fantastic rewards Progress features,” stated Jason McDonell, executive vice president of merchandising, promoting and eCommerce at Progress Automobile Parts. “Ed is capable to tell short stories that turn into authentic and true and link with a new era of car or truck fans who have emerged all through the pandemic. We leaned into this in producing Ed as ‘every person’s human being,’ inspiring these motorists to try one thing new in caring for their automobile though accelerating our commitment to construct own connections with them.”

In a retail group mostly seen as a “sea of sameness,” Ed Vance additional differentiates Progress as the have to have for motor vehicle upkeep raises parallel to the ordinary age of cars in the U.S. achieving 12 several years. Progress advancements a environment in movement via treatment and velocity – a deliberate verb that signifies the brand’s motivation to evolving to meet up with motorists’ desires.

Ed and Advance’s “Do It Together” motion is threaded through all areas of the new campaign, a relationship-to start with strategy guiding all marketing initiatives and putting the shopper journey front and heart. Ed Vance is bilingual, launched as “Eduardo Vance” to Hispanic audiences in all internet marketing. His persona 1st debuts on Instagram and Twitter (@EdVance4Advance), adopted by 30-, 15- and 6-next places in equally English and Spanish positioned in media and on platforms appropriate to the modern DIYer, including Roku, Spotify, Pandora, Twitch and a lot more.

Progress also not too long ago debuted a new custom topic and sonic logo in two languages. “This is How We Advance” and “Avanza Con Advance” travel brand name recognition and affinity for Progress whilst furnishing a memorable, hummable tune for DIYers.

The arrival of Ed Vance arrives as Progress celebrates its 90th “Advanceiversary” this summer months by curating consumers’ most memorable times on the street

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Advance Auto Parts Stock: Old Vehicles Require Continued Maintenance (NYSE:AAP)

deepblue4you/E+ via Getty Images

Advance Auto Parts, Inc. (NYSE:AAP) is a leading automotive aftermarket parts provider in North America. The types of products sold by the company include parts & batteries, accessories and chemicals, and engine-related maintenance products, such as air filters and transmission fluid. Their customers include both professionals and DIYers. As of December 31, 2021, sales to professionals accounted for nearly 60% of total net sales.

As an aftermarket parts supplier, AAP benefits from providing automotive solutions to older vehicles that need more continuous repairs & maintenance. In the current market environment, AAP is poised to benefit from widespread affordability constraints of purchasing a vehicle.

In May 2022, the average new-vehicle transaction price is expected to reach nearly +$45K, which would be up 16% from 2021. Prices for used cars offer no better alternative, with prices up nearly 30% from January 2021. As such, there is a greater likelihood of individuals holding onto their cars for as long as they can. In fact, the average age of vehicles on U.S. roadways reached a record high of 12.2 years in 2021. For AAP, this means increased demand for brakes and brake pads, batteries, tires, and other accessories.

AAP also benefits as total vehicle miles traveled increases. In 2019, total miles driven reached 3.26T, before plummeting to 2.83T during the height of the COVID-19 pandemic. The data has since improved and is now at or near 2019 levels. With increased travel comes greater maintenance requirements.

U.S. Federal Highway Administration, Moving 12-Month Total Vehicle Miles Traveled [M12MTVUSM227NFWA], retrieved from FRED, Federal Reserve Bank of St. Louis;, May 28, 2022.

U.S. Federal Highway Administration, Moving 12-Month Total Vehicle Miles Traveled [M12MTVUSM227NFWA], retrieved from FRED, Federal Reserve Bank of St. Louis

With the wind at their back from an aging vehicle fleet and total miles driven, one would not expect AAP to be underperforming the broader market. Yet, AAP is down nearly 20% YTD, which is worse than the S&P’s 13% decline over the same period. For investors seeking an under-the-radar play in the automotive sector, AAP is one name worth extra attention.

Earnings Review and Other Reportable Events

In the first quarter ended April 23, 2022, AAP reported total net sales of +$3.4B, which was up 1.3% from the same period last year, but +$20M short of estimates.

Through the first ten weeks of the year, AAP had a strong start, with YTD comparable store sales up mid-single digits. The final six weeks, however, came under pressure from flagging DIY sales, resulting in mid-single digit declines in comparable sales.

Weighing on the DIY comparisons were the impacts of economic stimulus payments in the prior year and a slower start in the current period, especially in the northern regions, due to colder and wetter weather patterns.

Despite weakness in DIY, overall comparable store sales were up 0.6% from the prior year and 25.3% on a two-year basis. The increase represented the 8th consecutive quarter of comparable store sales growth. Likewise, both adjusted operating income and adjusted EPS grew for the 8th straight quarter.

Gross profit margins came in at 44.6%, which was

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Zacks Industry Outlook Highlights O’Reilly Automotive, AutoZone, CarMax and Advance Auto Parts

For Immediate Release

Chicago, IL – March 7, 2022 – Today, Zacks Equity Research discusses O’Reilly Automotive ORLY, AutoZone AZO, CarMax KMX and Advance Auto Parts AAP.

Industry: Auto Retail Parts


Growing demand for complex-technology embedded cars is providing impetus to the Zacks Automotive- Retail and Wholesale- Parts industry. The introduction of high-tech vehicles has led consumers to take more professional help, opening up more opportunities for the industry. While chip famine may cause near-term obstacles, the overall prospects of the industry participants, including O’Reilly AutomotiveAutoZone CarMax and Advance Auto Parts, hold promise thanks to rapid digitization, aging vehicles and the soaring popularity of electric vehicles.

Industry Overview

The automotive sector’s performance depends on its retail and wholesale network. Through dealership and retail chains, companies in the Zacks Auto Retail and Wholesale industry carry out several tasks. These include the sale of new and used vehicles, light trucks as well as auto parts, execution of repair and maintenance services, along with the arrangement of vehicle financing.

The industry, being consumer cyclical, is dependent on business cycles and economic conditions. Consumers and businesses spend more on big-ticket items when they have higher disposable income. On the contrary, when income is tight, discretionary expenses are the first to be slashed.

Importantly, the coronavirus pandemic has brought considerable changes in the operating environment, with the industry laying more emphasis on e-commerce retailing, and the trend is here to stay.

3 Key Themes

Tech Advancement Creating Opportunities: The industry is undergoing a radical change with evolving customer expectations and technological innovation acting as game changers. An increase in the number of new, complicated and high-tech vehicles has compelled consumers to opt for more professional assistance instead of opting for DIY (“Do It Yourself”).

Widespread usage of technology and rapid digitization are resulting in a fundamental restructuring of the automotive market and auto parts suppliers need to develop a detailed roadmap to make the most of the opportunities in a changing market scenario.

Increasing Longevity of Vehicles Serving as a Catalyst: The increasing average age of vehicles is driving the demand for auto parts. Per IHS Markit, the average age of U.S. vehicles hit a record of 12.1 years in 2021. The aging vehicles are a boon to the retail and wholesale auto parts industry. In a bid to ensure the long-term functioning of the aging vehicle population, customers are making investments to replace faulty vehicle parts and components, thereby boosting sales of retail and wholesale parts.

Chip Shortage Acting as a Spoiler: Shortage of semiconductor supply is hampering the balance between demand and supply and is adversely impacting vehicle production. Several auto companies have been forced to make production cuts, and the situation doesn’t appear to ease out till at least mid-2022. This is limiting the demand for retail and wholesale auto parts.

Also, rising commodity costs, a tough labor market and logistical challenges are acting as headwinds. Consequently, near-term revenues and earnings of industry

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Advance Car Parts’ Lauren Beaulieu

For the January 2022 AMN/Counterman include story, we spoke with a amount of distribution, retail and association leaders who shared their outlooks and insights for the aftermarket in 2022. We ask them a handful of pleasurable “lightning round” inquiries as effectively that you won’t want to pass up.

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In Section 1 of our Marketplace Insights sequence, we listen to from Lauren Beaulieu, VP, Specialist Marketing and advertising, Progress, Carquest and Worldpac.

Our industry’s technical competencies gap (and tech scarcity) has been labeled as a big obstacle. But, there are some fantastic lengthy-expression possibilities for younger persons in the automotive aftermarket right now, specifically in the region of rising technological know-how, which is likely to have to have that “next-level” tech. How can we better set our sector in the spotlight, and get young learners enthusiastic about automotive?

1st, this is an enjoyable field! Technicians are receiving to perform with advanced car units each and every day and the technology is continuously evolving. From our standpoint as a supplier, we consider it is our obligation to deliver qualified consumers with the latest instruments and means to stay ahead of the curve on these emerging systems. For illustration, our Supplier and Instruction Expo (STX) led by Worldpac that is using spot in Orlando this March will feature numerous coaching classes on EVs and ADAS, as nicely as opportunities to understand much more about the parts and equipment required to help restore of these vehicles. These classes are amongst a lot more than 250 technological and management-centered courses led by prime OE instructors and major trainers from Worldpac Teaching Institute and Carquest Complex Institute. 

We have prioritized connecting with other people throughout the marketplace who share our enthusiasm for educating aspiring experts on professions in the aftermarket. We’re proud of our prolonged-phrase partnership with TechForce Foundation, a nonprofit that champions pupils and youthful older people by way of education and into aftermarket occupations. On top of that, we are delivering scholarships to Advance workforce members and quite a few hundred pupils from community complex colleges to go to STX. These folks are excited about the field and seeking to broaden their know-how, and we are delighted to current them with an prospect to discover from best instructors.

Does your firm currently participate in any packages to support battle the tech-shortage issue? If so, tell us about it.

Considering the fact that 2016, we have been a sturdy advocate of TechForce. One particular plan we’re particularly involved in is their peer network, introduced this past year. We’re supplying MotoVisuals’ databases of repair animations so pupils and other users can attain useful perception into the applications professionals use to talk vehicle repairs to consumers. We are also launching a TechNet work opportunities portal, which will connect our companion retailers to proficient experts across the nation who are looking for perform. And, in 2021, we introduced a $200,000 determination to Wake Technical Neighborhood University to acquire a recruitment initiative

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What is actually in advance for the vehicle field in 2022?

From shortages of crucial semiconductor chips to shutdowns at key assembly plants, as effectively as skyrocketing automobile prices and vacant dealerships, 2021 was a year to bear in mind for vehicle companies and consumers alike. But there had been also a surge in profits of electric powered automobiles and an growing shift from sedans to SUVs and pickup vehicles.

So what is ahead for 2022? By some accounts, it could be extra of the exact, as shortages proceed to go away dealers battling for stock and individuals struggling with at any time increased costs. But buyers will also uncover a ton far more solutions if they’re searching for electric powered cars.

Here are the storylines we count on will dominate this year:

Ongoing item shortages

As Covid-19 struck, automakers slashed creation and parts orders. But when income commenced to rebound, they found they could not get all the semiconductors they wanted, major to significant manufacturing cuts. The market shed around $210 billion in revenue in 2021, in accordance to AlixPartners, a company management consultancy. While chip provides are loosening up, they’re much from back again to normal, and output slice be hurt properly into 2022. Even worse, the field faces other shortages impacting solutions like tires and interior plastics and seat foams.

All informed, automakers all over the world manufactured about 8 million fewer cars than planned final 12 months simply because of products shortages. Even if manufacturing rebounds, sellers will never be ready to construct back inventories till nicely into 2022, J.D. Electricity analyst Tyson Jominy reported. As a final result, consumers should really count on limited options — while prices will proceed to increase at a document fee. At the finish of 2021, a regular new auto price tag $45,000, up about $8,000 from December 2020, in accordance to marketplace knowledge.

Normalization of on the web automobile acquiring

When the U.S. went into lockdown, the marketplace strike on a novel idea. For the reason that shoppers couldn’t go to sellers, dealers went to them — more than the online. Even soon after the nation opened again up, far more and far more prospects are searching for their autos on the net, and numerous stores plan exam drives and supply new automobiles to buyers’ properties or workplaces. In the meantime, with showroom lots practically bare, typically impulse-pushed motorists have begun purchasing their cars and trucks and waiting around — sometimes for months — to consider delivery.

EVs commence their shift into pole place

They account for a modest fraction of U.S. new motor vehicle income, but demand for battery-electrical automobiles doubled through just the to start with half of 2021. This calendar year could bring the “tipping place,” GM CEO Mary Barra mentioned, with the EV current market exploding. Numerous aspects will play a role, commencing with a myriad of new offerings: Analysts anticipate the variety of lengthy-variety styles will quadruple this calendar year.

The impression of Develop Again Much better

President Joe Biden has put a whole lot

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This Season, Let Advance Auto Parts Help Advance Your Holiday Checklist | Business

RALEIGH, N.C.–(Organization WIRE)–Nov 10, 2021–

No matter whether you’re loading little ones, pets and luggage into your family’s four-wheeled sleigh or revving up your reward offering for the DIYer in your lifestyle, Progress Car Pieces (NYSE: AAP), a foremost automotive aftermarket areas retailer, has what you need to have to check out everything off your to-do listing.

  • Do not enable winter weather conditions ruin your street journey. DieHard® is America’s most reliable automobile battery and is bought at Advance and Carquest Automobile Components commencing at $99.99. In circumstance of rain or snow, swap your aged wiper blades for a set of TRICO Onyx Blades (conserve $8 with obtain).
  • Alter your oil! A Mobil 1 full artificial oil transform bundle commences at $37.99 and contains a no cost RTIC mug.
  • Why would you pack light-weight? Seize a weatherproof Rightline Car Top Bag (starting up at $59.99) and really do not depart just about anything driving. Most effective of all, the bag attaches to cars with or with out a roof rack.
  • Give Fido room. Hold your canines cozy and protected by setting up a WeatherTech Pet Barrier ($109.99).
  • For stocking stuffers, Progress carries a significant assortment of auto decals (starting off at $3.99) and license plate frames (commencing at $12.99). For the DIYer who could use a new set of resources, give ‘em an up grade with 50% off pick TEQ/TEQ Pro Socket Sets (beginning at $11.99).
  • Who doesn’t enjoy a clean up car or truck? AutoCraft all-season rubber floor mats (4-piece established, $30.49) will hold your motor vehicle inside tidy during the calendar year.
  • Keep linked for the duration of your travels by outfitting your journey with a Monster Headrest Tablet/Good Cell phone Mount ($21.99) and a Monster 3-in-1 Auto Charger, Energy Financial institution and Window Hammer ($26.99).

Increase these products and extra to your vacation checklist by visiting Advance’s Holiday Reward Tutorial on Additionally, conserve time with absolutely free in-shop or curbside pickup on most in-inventory goods within just 30 minutes when you buy on line or inside of the Advance application. Lots of markets across the U.S. also have no cost identical day delivery obtainable.

“Great memories are made throughout the holidays, but we also know finding to your destination can often be too much to handle,” reported Jason McDonell, Advance’s govt vice president of merchandising, promoting and eCommerce. “Fortunately, our Progress stores are staffed with automotive industry experts who glimpse forward to assisting every single motorist with care and pace all through the holiday season and further than.”

Ahead of hitting the street, visit your regional Progress for cost-free battery testing. Other absolutely free curbside expert services incorporate battery and wiper blade set up, furthermore test engine gentle scanning. Most retailers open up at 7:30 a.m. in the course of the vacations. All Advance shops will be shut Thanksgiving and Christmas Working day.

All items mentioned over are also readily available at taking part Carquest spots.

About Advance Automobile Sections

Progress Automobile Parts, Inc.

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