Genuine Parts Company Reports Record 2013 Sales
February 19, 2014—Genuine Parts Company (GPC), a distributor of automotive replacement parts in the U.S., Canada, Mexico and Australasia, hit record sales and earnings for the year ending on Dec. 31, the company announced Tuesday.
Sales in 2013 reached $14.1 billion, an 8 percent increase over the previous year. Net income for the year was $685 million, an increase of 6 percent over 2012’s numbers.
"We are pleased to report that 2013 was another year of record sales and earnings for Genuine Parts Company,” said Tom Gallagher, chairman and CEO of the company. “Our overall results reflect the good job that was done by the GPC Team in 2013, despite the challenging market conditions that were experienced by our non-automotive business segments.”
The company's revenue growth in 2013 was driven by an 18.5 percent automotive sales increase, offset by a combined 1 percent sales decrease for non-automotive businesses, according to a press release.