As I mentioned during our call last quarter, our hard parts business, led by a rotating electrical 50 plus year flagship category, continues to generate solid performance. The non-discretionary nature of our products, alternators and starters, for example, cannot be deferred. If non-discretionary products are broken, your car cannot be driven, which is particularly relevant in the current environment. According to industry reports, the average age of US light vehicles has risen to 12.8 years, an increase of two months for the second consecutive year. Research indicates that vehicle registrations in 2024 surpassed 16 million for the first time since 2019, exceeding scrappage rates. In addition, the number of vehicles on the road climbed to 289 million, remaining a favorable tailwind. We expect increased replacement opportunities for the life of vehicles, particularly with consumers holding onto their cars for longer.

Jun 9, 2025 / CEO / receipt, needs a key / Selwyn Jaffe, CEO | earnings call 2025-06-09 | transcript 5f2e14a4-32e1-424e-99ce-34f30a77e80f | chars 4514-5443 | segment 4