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u.s. auto parts sellers skid after report on amazon\'s entry

by:ShenHao     2020-06-16
(Reuters)-Shares of U. S.
Auto parts retailers fell sharply on Monday after Amazon released its report. com Inc (AMZN. O)
Has set an eye on $50 billion. it-yourself after-
Auto parts market
Autozone Co. , Ltd (AZO. N)
Exposure to the retail auto parts market is relatively large, and the company\'s share price has fallen by 5.
$ 1% to $730.
99, the largest percentage loss in the past year.
Advance Auto Parts Co. , Ltd (AAP. N)fell 4.
$ 2% to $164.
27, O\'Reilly Motor Company (ORLY. O)
It fell 4% to $263.
13 and real Accessories Co. , Ltd (GPC. N)lost 3.
$ 7% to $96.
Amazon has signed supply contracts with some of the largest parts manufacturers, including the federal government.
FDML, Huimen holding company.
The New York Post quoted sources as saying on Sunday that Dolman products, Robert Bosch, and caldo industries. (nyp. st/2k8Ibhq)
The New York Post report suggests that Amazon not only pays more to suppliers, but also offers customers a lower price than bricks --and-
Similar mortar rivalsfor-
According to ScotCiccarelli, an RBC Capital Market analyst, it\'s like a product.
Nick Mitchell, North Coast research analyst, estimates that 75% of Autozone\'s sales come from retail auto partsit-
Amazon\'s target market.
Low market share-
Sales portfolio of O\'Reilly, low-50%
Mitchell said 40% for advanced automotive parts and 15% for real parts.
Amazon, the world\'s largest online merchant, is known for subverting traditional physical stores. and-
Mortar business.
The company is expected to surpass Macy\'s (M. N)
Be number one. 1 U. S.
According to a report released by Cowen & Co in 2017, clothing retailers in October.
However, analysts downplayed any direct impact of Amazon\'s addition on auto parts retailers.
\"If Amazon promises. . .
They will definitely get some share.
\"In terms of the damage they will cause, I don\'t think it will happen soon,\" Mitchell told Reuters . \".
The scope of Amazon will be relatively limited, says Ciccarelli, as most retail customers may not have the information and skills they need to easily order parts on their own.
For Amazon, entering the auto parts market is seen as the next step in developing its auto business, and Amazon Auto is an online platform for users to study cars, auto parts and accessories, which was launched in 2016. “Longer-
This pushed the car during the semester. . .
Brian Novak, an analyst at Morgan Stanley, wrote in a report: \"This also lays the foundation for Amazon to potentially develop into a larger market for new and used car purchases . \".
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