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As the global semiconductor chip shortage forces companies to delay their new-vehicle production, prices of new cars are on the rise. Given this backdrop, people are either buying used vehicles or repairing their existing vehicles and the aftermarket auto parts industry is witnessing solid demand. According to a Reportlinker.com report, the global automotive aftermarket industry is expected to grow at a 3.6% CAGR to $562 Billion by 2027. Thus, both ORLY and AZO should benefit from the industry tailwinds.
While AZO gained 5.8% over the past three months, ORLY surged 13.3%. In terms of the past six months’ performance, ORLY is a clear winner with 30.3% gains versus AZO’s 29.2% returns. But, which of these stocks is a better pick now? Let’s find out.
