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This statistic highlights Genuine Parts Co’s Revenue by Segment, split between Automotive and Industrial part group, reported on a quarterly basis from Q1 2016 onwards.
The company’s business is bifurcated majorly in two segments. The company’s automotive parts segment distributes replacements parts for substantially all motor vehicles makers and models in service in the U.S., which also includes imported vehicles, hybrid and EVs (Electric vehicles), trucks, SUVs, buses, motorcycles, farm vehicles, and recreational vehicles. In addition to it, the company is also into distributing replacements parts for small engines, marine equipment, and heavy-duty equipment.
In Q3 2021, the total revenue from both the segments, i.e., the automotive part group and the industrial part group stood at $4.81 billion. To compare with the previous quarter of the same year, the company made a growth of 0.42% on a quarter-on-quarter basis as compared to Q2 2021, where the company earned $4.79 billion in revenue in total. Observing the Q3 2021 with the same duration of the previous year, i.e., Q3 2020, the company made a growth of nearly 10% on a year-on-year basis, as compared to $4.37 billion in Q3 2020.
Genuine Parts Co’s total revenue is bifurcated into the following segments:
|Revenue by Segment||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
(All figures in billions, except percentages)
This group performs the activity of distributing accessory items in various major areas including Europe, Australia, and North America. The automotive parts group offers complete inventory along with marketing, cataloging, training, and other programs in each of these regions to stand out from its competitors in the automotive aftermarket. To become supreme in its category and distinguish itself from the competitors in the automotive aftermarket, this group also includes select investments in e-commerce or digital businesses across its operations.
In Q3 2021, this segment reflected $3.20 billion in revenue. It constituted 66.53% of the total revenue earned by the company in Q3 2021. Maintaining consistency every quarter, in Q2 2021, this segment collected $3.20 billion in revenue. Hence no change was reported on a quarterly basis, from Q2 2021 to Q3 2021. In Q3 2020, the company earned $2.96 billion revenue from this segment. From Q3 2020 to Q3 2021, the company reported a growth of 8.11% on a year-on-year basis.
The industrial parts group operates in North America through the company’s wholly-owned subsidiary “Motion Industries Inc” and in Australasia through “Motion Asia pacific”.The company also serves the area of Canada and the Mexican market. Motion distributes replacements parts and related supplies of industrial use such as bearings, industrial automation, robotics, hose, electrical power transmission products, etc.
In Q3 2021, this segment generated $1.61 billion in revenue. Contributing lesser than the automotive parts group, this segment constituted 33.47% of the total revenue earned by the company in Q3 2021. In Q2 2021, this segment collected $1.59 billion in revenue. From Q2 2021 to Q3 2021, this segment possessed a growth of 1.26% on a quarterly basis. In Q3 2020, the company earned $1.41 billion revenue from this segment. From Q3 2020 to Q3 2021, the company reported a growth of 14.18% on a year-on-year basis.
The genuine parts company is engaged in the business of distribution as a service organization. The company was founded in the year 1928 in Atlanta, Georgia by Carlyle Fraser. The company distributes various Automotive replacement parts and Industrial replacement parts along with electrical material. Having a presence in North America, Europe, and Australasia, the company operates from approximately 10,000 locations. The mission of the company includes being an employer and supplier of choice, and excellent corporate citizen. The company’s common share goes under the ticker “GPC” and is listed on the New York Stock Exchange.
The company’s inventory also includes items of accessory for such vehicles and equipment along with supply items used by a huge customer base in the automotive aftermarket, such as service stations, fleet operators, repair shops, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns and individuals who are into performing their own maintenance and parts installation. The industrial parts group provides its customers with supply chain efficiencies through its On-site solutions. This service also includes inventory management, asset tracking and repair, VMI (vendor-managed inventory), as well as RFID (radio frequency identification) asset management of the customer’s inventory.
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