GSF Car Parts revenue growth exceeding market average
GSF Car Parts has announced annual revenue growth of over 20%, which more than three times the national sector average of 6.5%.
This market growth proves that customers are holding on to their cars for longer, partly because of the continued cost-of-living crisis.
GSF Car Parts’ growth has been driven by significant investment into 15 new branches across the network this year, while also boosting product range, availability and delivery times.
Sukhpal Ahluwalia, executive chairman at GSF Car Parts, said: “The car parts market is booming right now, and we are well-positioned to take advantage of the continuing expansion of the market.
“In difficult economic times, the aftermarket industry plays a key role in supporting hard-pressed consumers who are looking for the most cost-effective way to maintain their existing vehicles. We will continue to work hard to be there for these motorists.
“This knock-out data gives us the full confidence that our plan is bearing fruit — and that we’re truly supercharged as a business. As a result, we are now recommitting to adding many new stores over the next 12 months, with our network study even indicating an opportunity to open another 40 branches from here on.”
GSF Car Parts growth
Steve Horne, CEO of GSF Car Parts, added: “It’s great to see our garage customers are growing. We know that the industry usually operates on a counter-cyclical basis, showing growth and resilience in the face of tight economic headwinds.
“But while it might be difficult to find an aftermarket company struggling in this environment, we are still packing a harder punch than most. We are very proud of our ability to deliver over 20% year-on-year growth, and this is a result of our wider team’s efforts and hard work.
“There is sometimes a misconception that the afterparts market rises and falls with the general automotive segment. That’s not how the market works, and you can see that in this latest data. The market is resilient, and it’s not as if you could ever blame bad performance on a wider automotive slowdown.
“We will not be slowing down. With our new National Distribution Centre coming online in the next month or so, we will be able to increase the availability and speed of delivery to even more of our important independent garage customers — and continue our streak as the best and most efficient player across the industry.”
