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Advance Auto Parts SWOT & PESTLE Analysis

ID : 52920653| May 2021| 21 pages

COMPANY PROFILE -Advance Auto Parts

Business Sector :Automotive Aftermarket

Operating Geography :United States, North America, Global

About Advance Auto Parts :

Advance Auto Parts Inc. is an American Supplier of automotive aftermarket parts. It is headquartered in Releigh, North Carolina. It serves 1,250 independently owned Carquest branded stores across United States and Canada and also in Mexico, the Bahamas, Turks and Caicos and British Virgin Islands. It offers its services to both professional installer and do-it-yourself (DIY) customers. As of early 2021, the company leverages the talent of 70,000 employees. Arthur Taubman purchased the Advance Stores from Pep Boys in April 1932 and in 1998 the company acquired the remaining operations of Western Auto, an auto parts and general store retailer. Later in 2001, Auto Advance Parts acquired the Carport Auto Parts, and after completion of this merger Advance Auto Parts became a publicly traded company. The company's stores and branches provide a broad selection of brand name, original equipment manufacturer (OEM) and private label automotive replacement parts, accessories, batteries and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy-duty trucks. Post 2020, the company has planned some initiatives which includes rolling out additional tools and technology for professional customers, continuing the roll out of dynamic assortment, launching a new DIY advertising campaign and the company is also planning to launch DieHard® batteries to customers across North America. In February 2021 Advance Auto Parts and Team Penske have unveiled a special activation centred around Ryan Blaney's No. 12 Ford Mustang in the NASCAR Cup Series. During the 2021 season, Advance will use its associate sponsorship of Ryan Blaney's No. 12 Ford to promote NASCAR-sanctioned local short tracks that are part of the NASCAR Advance Auto Parts Weekly Series throughout the United States and Canada.
Advance Auto Parts' USP lies in it being the country's second-largest manufacturer of automotive replacement parts and accessories. The company's mission statement reads, "It is the Mission of Advance Auto Parts to provide personal vehicle owners and enthusiasts with the vehicle related products and knowledge that fulfil their wants and needs at the right price. Our friendly, knowledgeable and professional staff will help inspire, educate and problem-solve for our customers".

Advance Auto Parts Revenue :


Euro 9,709 million - FY ending 28th December 2019 (y-o-y growth 1.34%)
Euro 9,580 million - FY ending 29th December 2018

Competitive Analysis of Advance Auto Parts

SWOT
PESTLE

The SWOT analysis for Advance Auto Parts is presented below in a matrix followed by the detailed analysis report

StrengthsWeaknesses
1. Strong borrowing availability has led to stable credit ratings
2. Partnered with leading brands and features them at stores
3. Continuous revenue growth over past 4 years
4. Robust supply chain that can ensure speedy delivery
5. Second largest auto parts seller by market capitalization
1. Majorly present only in USA and Canada after 88 years
OpportunitiesThreats
1. Acquisition of DieHard can drive diversification into other automotive categories
2. Strategic partnership with Walmart facilitates Omni-channel presence
1. Introduction of stringent emission norms may disrupt operating costs
2. Ongoing litigation by company security holders may damage reputation
3. Trade war between USA and China inflates costs
4. Reduction in miles driven has deteriorated the spare parts demand
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Advance Auto Parts

Strength

This section is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

1. Acquisition of DieHard can drive diversification into other automotive categories: DieHard is the market leader known for its durability and reliability. AAP’s acquisition of DieHard will help the company to have a point of differentiation in the critical battery segment. This will solve the problem of the DIY customers who used to find it inconvenient to go elsewhere for battery related issues. The company also aims to expand DieHard into marine and recreational vehicles. The previous owner of DieHard, Transformco still holds the rights to produce and market the brand. With a supply agreement with Transformco, the company will mainly be involved in sale and distribution of these batteries. This will lead to efficient and cost-effective use of the brand. Eventually this strategy readies the company for the migration towards electric vehicles.

2. Strategic partnership with Walmart facilitates Omni-channel presence: This partnership is a strategy to increase the Omni-channel presence of the company. First it aims to work towards a specialty store on the Walmart website. Further strategy is to increase the distribution to the DIY customers through 2500 Walmart auto care stores across the country. The facilities that would be offered are same day pickups, home delivery and pre installation of parts. This will eventually help the company to reduce the infrastructure cost involved in expansion of stores. The company can benefit from the synergy involved in using its network of automotive aftermarket parts vendors to distribute to a larger customer base through Walmart. Walmart will gain from the experience of the company in automotive aftermarket parts sector. Eventually the company can use this partnership to venture beyond USA and Canada region.

Threats

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Major Competitors :

Major Brands :

  • AAP
  • Carquest
  • Worldpac
  • DieHard
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?

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References used in Advance Auto Parts SWOT & PESTLE Analysis Report

1. ANNUAL REPORT-For the fiscal year ended December 28, 2019 - https://my.advancepro.com/service/resource/1586892948000/Advance_Auto_Parts_2019_10K_PDF
2. THE ADVANCE AUTO PARTS STORY - https://corp.advanceautoparts.com/our-story/default.aspx#brands
3. INVESTOR RELATIONS - https://ir.advanceautoparts.com/investors/overview/default.aspx
4. Advance Auto Parts Announces Purchase of the DieHard Brand from Transformco - https://www.bloomberg.com/press-releases/2019-12-23/advance-auto-parts-announces-purchase-of-the-diehard-brand-from-transformco
5. Taiwan Exports Surge at Fastest Pace Since 2010 on Chip Demand - https://www.bloomberg.com/news/articles/2021-05-07/taiwan-exports-surge-at-fastest-pace-since-2010-on-chip-demand?srnd=new-economy-forum
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Advance Auto Parts SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2021). Advance Auto Parts SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/advance-auto-parts/ [Accessed 16 Sep, 2021].

In-text: (SWOT & PESTLE.com, 2021)

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Advance Auto Parts SWOT and PESTLE Analysis has been conducted by Mohit Harishchandra Deshmukh and reviewed by senior analysts from Barakaat Consulting.

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Advance Auto Parts SWOT & PESTLE Analysis
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