Thrifty auto owners providing a boost to retailers

Keeping your older car in good shape can eliminate a lot of things, namely large repair bills and new car loan payments.

 

But drivers holding on to their cars longer is proving beneficial for auto retailers such as AutoZone.

The chain has average a 19 percent annual earnings growth over the last five years, according to Investors.com.




 

The site points out that despite a crowded market of similar shops, business seems to be good all around.

 

Advance Auto Parts has grown sales and earnings over the last decade, while Pep Boys has posted positive gains in 2010 and 2011 after closing  five straight years with a loss.

 

Check out the full article here.

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