Advance Auto Parts, Inc. (NYSE: AAP)

Advance Auto Parts, Inc. (NYSE: AAP) is one of the leading aftermarket automotive parts providers. The company has over 4,700 stores throughout North America and sales to professionals make up roughly 60% of the company’s revenue.

On May 23, the company released its Q1 results that showed revenue increasing 1.3% year over year to $3.4 billion.

Advance Auto Parts also reported its eighth straight quarter of comparable store sales growth. And the future potential for the company looks bright for one specific reason:

The average age of vehicles on North American roadways is now a record 12.2 years old. With drivers looking to avoid the new car market – and instead aiming to keep their existing vehicles on the road longer – automotive parts will continue to be in high demand.

That bodes extremely well for the future of Advance Auto Parts and the company’s 4,700 stores.