Why Genuine Parts Raced 23% Higher in 2022
Shares of Genuine Parts (NYSE: GPC) gained 23.8% in 2022, according to data from S&P Global Market Intelligence, as the auto industry continued to suffer from the global semiconductor shortage and supply chain issues.
As both new and used vehicles were harder to find, which caused prices to soar to record levels, consumers committed to keeping their existing vehicles on the road longer, driving demand for aftermarket auto parts.
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Source Fool.com
