Auto Part Sales on the Rise

In response to the climbing unemployment rates, many motorists have begun to fix their cars more often than buying new ones. Drivers understand that new parts and services are more economically sensible than purchasing new cars.

This has created an increase in sales for auto-parts sellers. Shares of major auto-parts sellers such as Advance Auto Parts, AutoZone and O'Reilly Automotive are near 52-week highs.

As a result of car owners continuing to fix their cars instead of buying new ones, the average age for all cars and trucks in the U.S. is 10.2 years in the latest R.L. Polk survey, up 21% in the past 14 years. Auto-parts dealers have adapted to this trend by stocking more basic repair items, such as alternators, starters and brakes. The items have replaced the more flashy accessories.