Why Advance Auto Parts Stock Is Rising Today
Shares of the aftermarket automotive products company Advance Auto Parts (NYSE: AAP) were climbing today after a report released this week showed that demand for used vehicles is rising. If Americans continue to hold on to their older vehicles, it could help spur more auto parts sales.Investors may have also been pleased to see that one of the company's rivals, AutoZone, reported solid same-store sales growth in its first quarter yesterday, indicating a strong demand for auto parts.Advance Auto Parts stock is up 5.3% as of 1:33 p.m. ET.Continue reading
Shares of the aftermarket automotive products company Advance Auto Parts (NYSE: AAP) were climbing today after a report released this week showed that demand for used vehicles is rising. If Americans continue to hold on to their older vehicles, it could help spur more auto parts sales.
Investors may have also been pleased to see that one of the company's rivals, AutoZone, reported solid same-store sales growth in its first quarter yesterday, indicating a strong demand for auto parts.
Advance Auto Parts stock is up 5.3% as of 1:33 p.m. ET.
