Fast growing GSF Car Parts has reported 20% year-on-year revenue growth, significantly outperforming the wider aftermarket car parts sector.
According to data from Factor Sales, the aftermarket car parts sector has experienced robust 6.5% year-on-year growth throughout 2024, with eight out of nine months surpassing the previous year’s performance.
The sectoral expansion reflects consumer behaviour, as more people are opting to maintain and repair their existing vehicles due to economic pressures.
GSF Car Parts’s success has been driven by significant investments, including the addition of 15 new branches, expanding its product range, speeding up parts delivery, and improving the ease of returns for customers. The business now has 200 stores and thousands of employees
In response to the latest results, GSF Car Parts has recommitted to fully opening a new 500,000-sq-ft national distribution centre and adding more new branches in 2025.
Sukhpal Ahluwalia, executive chairman of GSF Car Parts, said: “The car parts market is booming right now, and we are well-positioned to take advantage of the continuing expansion of the market.
“This knock-out data gives us the full confidence that our plan is bearing fruit – and that we’re truly supercharged as a business. As a result, we are now recommitting to adding many new stores over the next 12 months, with our network study even indicating an opportunity to open another 40 branches from here on.”
Having founded Euro Car Parts in 1978, Sukhpal scaled ECP from a single car accessories store in London into the largest car parts distributor and retailer in the UK, with 260 branches nationwide and annual sales of over £1.2 billion.
Steve Horne, CEO of GSF Car Parts, added: “It’s great to see our garage customers are growing. We know that the industry usually operates on a counter-cyclical basis, showing growth and resilience in the face of tight economic headwinds.
“But while it might be difficult to find an aftermarket company struggling in this environment, we are still packing a harder punch than most.
“There is sometimes a misconception that the afterparts market rises and falls with the general automotive segment. That’s not how the market works, and you can see that in this latest data. The market is resilient, and it’s not as if you could ever blame bad performance on a wider automotive slowdown.”
GSF Car Parts was acquired by private equity firm Epiris and the Ahluwalia family in October 2023.