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Advance Auto Parts Corporate Office

Advance Auto Parts was founded in 1932 by Arthur Taubman purchased two Advance Auto stores from Pep Boys. One was located in Roanoke and the second in Lynchburg, Virginia. The company began acquiring other automotive parts stores, including Western Auto in 1998 and Carport Auto Parts in 2001. The company’s largest acquisition to date is CarQuest, which was purchased in 2013 for $2.3 billion.

Advance Auto Parts is the largest retailer of automotive parts in the U.S. The company has more than 3,800 stores in the U.S. and more than 55,000 employees. In 2014, the company began a loyalty program called SpeedPerks, in which customers receive discounts off purchases. Purchases of more than $30 earn coupons of between $5 and $20 off future purchases.

Advance Auto Parts is publicly traded on the New York Stock Exchange under the ticker symbol: AAP.

 

Advance Auto Parts

Advance Auto Parts was founded in 1932 by Arthur Taubman purchased two Advance Auto stores from Pep Boys. One was located in Roanoke and the second in Lynchburg, Virginia. The company began acquiring other automotive parts stores, including Western Auto in 1998 and Carport Auto Parts in 2001. The company’s largest acquisition to date is CarQuest, which was purchased in 2013 for $2.3 billion.

Advance Auto Parts is the largest retailer of automotive parts in the U.S. The company has more than 3,800 stores in the U.S. and more than 55,000 employees. In 2014, the company began a loyalty program called SpeedPerks, in which customers receive discounts off purchases. Purchases of more than $30 earn coupons of between $5 and $20 off future purchases.

Advance Auto Parts is publicly traded on the New York Stock Exchange under the ticker symbol: AAP.

History

 

Advance Auto Parts Corporate Office

Advanced Auto Parts began when Arthur Taubman and one of his brothers began selling auto parts and household goods out of stores called Taubman’s. This business prospered until the Great Depression, when it was hit hard and eventually failed.

In 1932, Taubman bought a struggling three-store chain of auto parts stores called Advance Stores. He pawned his wife’s wedding ring for the down payment.

The federal government at that time was funding huge public works projects such as paving roads to give people jobs. This encouraged people to drive more and, along with the fact that people were holding on to their cars longer because of the poor economy, is reflected in the early success of Advance and other auto parts retailers.

After World War II Advance began to expand their product line to include batteries, tires, and seat covers at service bays that became part of the stores.

In 1978 the company changed its name from Advance Stores to Advance Auto and began to take steps to become a high-volume retailer.

In 1985 Advance Auto reached 100 stores.

In 1998 Advance acquired Western Auto from Sears, Roebuck & Co., therefore adding 598 stores to the company.

Today Advance Auto Parts is the largest automotive retailer in the United States with 4,912 stores, 68,000 employees, and $10.11 billion in revenue in 2020.

After experiencing customer retention problems in 2019, the company has returned to strong earnings in 2021. 

The company maintains a corporate office in Raleigh, North Carolina.

Advance Auto Parts

Advanced Auto Parts began when Arthur Taubman and one of his brothers began selling auto parts and household goods out of stores called Taubman’s. This business prospered until the Great Depression, when it was hit hard and eventually failed.

In 1932, Taubman bought a struggling three-store chain of auto parts stores called Advance Stores. He pawned his wife’s wedding ring for the down payment.

History

The federal government at that time was funding huge public works projects such as paving roads to give people jobs. This encouraged people to drive more and, along with the fact that people were holding on to their cars longer because of the poor economy, is reflected in the early success of Advance and other auto parts retailers.

After World War II Advance began to expand their product line to include batteries, tires, and seat covers at service bays that became part of the stores.

In 1978 the company changed its name from Advance Stores to Advance Auto and began to take steps to become a high-volume retailer.

In 1985 Advance Auto reached 100 stores.

In 1998 Advance acquired Western Auto from Sears, Roebuck & Co., therefore adding 598 stores to the company.

Today Advance Auto Parts is the largest automotive retailer in the United States with 4,912 stores, 68,000 employees, and $10.11 billion in revenue in 2020.

After experiencing customer retention problems in 2019, the company has returned to strong earnings in 2021. 

The company maintains a corporate office in Raleigh, North Carolina.