Will Stengel

Will Stengel serves as President and CEO of Genuine Parts Company (GPC), the parent of NAPA Auto Parts — one of the most recognized brands in American automotive aftermarket. Founded in 1928, GPC has grown into the largest automotive replacement parts distributor in North America and a leading industrial parts distributor through its Motion Industries subsidiary. NAPA operates over 6,000 auto parts stores across North America (a mix of company-owned and independent affiliates), serving both professional repair shops (the commercial business, which is higher-margin and growing faster) and do-it-yourself consumers. The automotive aftermarket benefits from a powerful secular tailwind: the average age of vehicles on US roads has reached 12.6 years, a record high. Older vehicles require more maintenance and repair, driving replacement parts demand regardless of new vehicle sales trends. Additionally, the growing complexity of modern vehicles (sensors, electronics, advanced materials) increases the average repair bill. Motion Industries is the industrial distribution segment, providing bearings, power transmission, fluid power, automation, and other industrial parts to manufacturing and processing facilities. This business is more cyclical, tied to industrial production. Key stock drivers include automotive aftermarket demand (driven by vehicle age, miles driven, and weather events that damage vehicles), commercial vs. DIY sales mix, Motion Industries industrial demand, pricing power, acquisition pipeline (GPC has been an active acquirer in both automotive and industrial distribution), competitive dynamics against O'Reilly, AutoZone, and Advance Auto Parts, and the eventual impact of EVs (which have fewer mechanical parts) on aftermarket demand.